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Managing Workforce Health Helps Employers Improve Their Overall Bottom Line

A growing body of evidence suggests that employers’ motivations for improving the overall health of their employees should extend far beyond the need to control the inflation of their medical costs.

Poor workforce health management costs employers an estimated $576 billion a year, only 40% of which is attributable to medical costs, according to the San Francisco-based Integrated Benefits Institute. The remaining 60% of those costs represents lost productivity and wage replacement expenses driven by short- and long-term disability and workers compensation claims resulting from untreated or undertreated chronic conditions.

Read the full report here.

Contact Steven Cosby with questions or to request more information and to schedule a healthcare plan evaluation, savings analysis or group plan solution for your company.

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Improve Employee Productivity Through Better Health

Investing in a healthy workforce can help increase productivity levels of employees, according to recent research from Optum. One study determined that net productivity losses were $158-$1,601 more per year for each person with a health risk or condition. A second study suggested that an employee who engages with a health coach, health advocate, or nurse and makes improvements in health or reductions in health risks, is likely to become more productive.

Read the full report here.

Contact Steven Cosby with questions or to request more information and to schedule a healthcare plan evaluation, savings analysis or group plan solution for your company.

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What You Need to Know About the Small Business Health Care Tax Credit

For tax years 2010 through 2013, the maximum credit is 35 percent of premiums paid for small business employers and 25 percent of premiums paid for small tax-exempt employers such as charities.

For tax years beginning in 2014 or later, there will be changes to the credit:

•The maximum credit will increase to 50 percent of premiums paid for small business employers and 35 percent of premiums paid for small tax-exempt employers.
•To be eligible for the credit, a small employer must pay premiums on behalf of employees enrolled in a qualified health plan offered through a Small Business Health Options Program (SHOP) Marketplace.
•The credit will be available to eligible employers for two consecutive taxable years.

Read the full report here.

Contact Steven Cosby with questions or to request more information and to schedule a healthcare plan evaluation, savings analysis or group plan solution for your company.

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Health Premiums Projected to Rise for Many Small Firms Under Obamacare

A new federal report estimates that 65% of small firms will pay more for employee health insurance as a result of the federal healthcare law while the remaining 35% will see premiums drop.

Those increased healthcare costs will probably be passed on to workers and their families, according to estimates from the Office of the Actuary at the U.S. Centers for Medicare and Medicaid Services.

Read the full report here.

Contact Steven Cosby with questions or to request more information and to schedule a
healthcare plan evaluation, savings analysis or group plan solution for your company.

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