In its “Focus on Employment/HR/Benefits” section, the latest issue of Mainebiz takes a look at how the rising cost of providing health insurance has forced many companies to look to their employees to take a more active role in managing their financial and physical health.
In the article, human resource consultant Karen Dobbyn of KMA explains that “Many companies have had to take a really hard look at whether they can afford to offer coverage for dependents, and if they do, whether they pass the whole cost on to employees.”
As for the financial planning arena, Josh Chase, a certified financial planner with Lebel & Harriman LLC, says that “A lot of employers are recognizing that their employees might have outside financial struggles that do impact the workplace. They recognize that by increasing the financial wellness of their employees, it increases productivity and decreases absenteeism.”
While large employers have been offering wellness programs to help employees get healthy and stay healthy, which can reduce insurance premium costs as well as lower utilization, smaller companies are beginning to see the cost effectiveness and practicality of such efforts.
To read the full article, “’Wellness’ comes in many forms and companies are expanding the array of health care and financial benefits” by Jennifer Allen, visit Mainebiz at www.mainebiz.biz/article/20150629/CURRENTEDITION/306249993.