Issue link: https://read.dmtmag.com/i/231507
[Preparing your company for healthcare reform ] Encourage your company cafeteria to discount healthy meal options, offer fruit and other healthy snacks, and provide lower-calorie options in on-site vending machines. Provide on-site screenings and investigate the use of health risk questionnaires to ensure that employees are aware of their own health issues such as high cholesterol. Offer subsidies for employees participating in smoking cessation and weight loss programs, subject to Health Insurance Portability and Accountability Act (HIPAA) regulations. Sponsor "Biggest Loser" contests to reward healthy lifestyles. Appoint health coaches to help employees better manage chronic diseases such as diabetes. According to PricewaterhouseCoopers, as much as $493 billion of healthcare spending may be attributable to so-called manageable behaviors, including about $200 billion to deal with obesity and weight control and as much as $191 billion to cope with smoking. The benefits of carefully managing costs for both the employer and the employee are clear. A 2011 survey by Towers Watson found strong 30 | Boating Industry | January 2014 P28x30-BI14JAN-HealthCare.indd 30 evidence of a link between highly effective health and productivity programs and better human capital and financial results, including higher workforce productivity and lower rates of work loss. Why is it the employer's concern? Each year, according to GE's internal calculations, employees spend at least 2,000 hours at work, during which they eat about 400 meals or snacks and, if they smoke, consume about 50 packs of cigarettes. So when employers think about helping their workforce to be as healthy as possible, they need to think about more than just discounted gym memberships. They should consider creating a true culture of health. ABOUT THE AUTHORS Jeff Englander, CFA, is a senior vice president and senior research analyst on the GE Capital Industry Research Team. Bruce Van Wagoner is the president of the marine group of GE Capital, Commercial Distribution Finance. The content herein is provided for informational purposes only, and the authors make no representation or warranty as to the accuracy or completeness thereof. Nothing herein shall be deemed to constitute business, financial, legal or similar advice. ADDITIONAL RESOURCES Implementing the ACA is a complex topic. Business leaders should thoroughly research the law and their options before making any decisions. U.S. Department of Labor-Employee Benefits Security Administration (EBSA): http://www.dol.gov/ebsa/healthreform (see ACA Implementation FAQ) Society for Human Resource Management Healthcare Reform Resource Page: http://www.shrm.org/hrdisciplines/benefits/ Articles/Pages/HealthCareReform.aspx U.S. Government Healthcare Reform Website: http://www.healthcare.gov/index.html Employee Benefits Research Institute (EBRI): http://www.ebri.org National Business Group on Health: http://www.businessgrouphealth.org Employee Benefit News: http://ebn.benefitnews.com www.BoatingIndustry.com 12/18/13 10:05 AM