Benefits May 22, 2018

Employees Say Employer Wellness Programs Are Helping

Fifty-three percent of people with access to wellness programs said the initiatives have made a positive impact on their health, which can save both employees and employers money.

Reported by

More than half of employees with access to workplace wellness programs say the programs have made a positive impact on their health, including 62% who say the initiatives translated to improved productivity and 30% who report help detecting a disease, according to findings from UnitedHealthcare’s annual “Wellness Check Up Survey.”

Fifty-three percent of people with access to wellness programs said the initiatives have made a positive impact on their health. Of these, 88% said they were motivated to pay more attention to their health; 67% said they lost weight; and 56% reported fewer sick days.

For more stories like this, sign up for the PLANSPONSOR NEWSDash daily newsletter.

Among employees without access to wellness programs, 73% say they would be interested in such initiatives if offered, including 42% who are “very interested.” Nearly 85% of Baby Boomers—defined as people between 54 and 72 years old—want wellness programs, more so than any other age group.

Just 29% of all respondents said they are willing to devote an hour or more each day on health-related activities, such as consistent exercise, researching healthy recipes or engaging in wellness coaching. Among employees with access to a wellness program, 31% said they are willing to devote that amount of time each day to their health, compared to 26% without access to a wellness program.

Nearly three-quarters (74%) of employees claim they meet government recommendations for physical activity, defined as at least 2 hours and 30 minutes per week of moderate-intensity aerobic activity and two days or more per week with moderate- or high-intensity muscle-strengthening activities. However, UnitedHealthcare notes, the Centers for Disease Control & Prevention reports that just 20% of Americans meet those recommended guidelines.

“This year’s results underscore the importance of workplace wellness programs, which can encourage well-being, prevent disease before it starts and, as a result, help lower medical costs,” says Rebecca Madsen, UnitedHealthcare chief consumer officer. “By investing in wellness programs, employers are in a unique position to drive engagement and create healthier, happier and more productive workforces.”

The UnitedHealthcare “Wellness Check Up Survey” was conducted April 5-8 and April 12-15, 2018, using ORC International’s Telephone CARAVAN omnibus among a landline and cell phone probability sample of 630 adults ages 18 and older and employed full time in the continental United States. Complete survey results are here.
Products May 22, 2018

dailyVest’s Plan Health Tool Gets an Update

Projected retirement income can now be viewed at both the plan and participant level.

Reported by

dailyVest’s PlanAnalytics plan health dashboard will now utilize retirement readiness data from GuidedChoice, an independent digital investment advisory firm.

This will provide plan sponsors, administrators, consultants and advisers with an optimized way to evaluate data, garner insights and pinpoint areas for improvement within defined contribution (DC) plans.

Get more!  Sign up for PLANSPONSOR newsletters.

Projected retirement income can now be viewed at both the plan and participant level—providing the ability to analyze retirement readiness by demographics such as age, salary, contribution rate, or geography. This helps plan sponsors and administrators achieve a more thorough picture of key successes and issues, identify participants that might be falling behind, provide data-driven advice and ultimately make better plan design decisions. Retirement readiness metrics can be tracked over time and be securely accessed by plan consultants and advisers.

The firms note that outcome-oriented data is becoming even more important to plan sponsors as they are charged with understanding where participants stand relative to their individual retirement goals and then developing strategies to help improve that standing.

“In order to have a valid projection for a defined contribution account, the projection must include the viability of the marketplace. That’s accomplished through the simulated projection data that GuidedChoice provides.” says Sherrie Grabot, founder and CEO at GuidedChoice. “And providing the right information in the right format is the key.”

The platform and retirement readiness metrics will start rolling out to plan sponsors, administrators, consultants and advisers in July.

«