Flu Shots Can Save Employers Time, Money: Study

August 23, 2002 (PLANSPONSOR.com) - Companies can easily steer clear of the $400 per employee cost in lost work and medical expenses they usually have to bear from flu-ridden workers by giving flu shots to as many employees as possible, a new study said.

The study for the Annals of Internal Medicine found that the $10.41 cost per shot was well worth the expense for employers, the Los Angeles Daily News reported. After all, according to the study, the employee who snags the flu bug misses nearly three work days, each day accounting for $142.10 in lost wages.

Many companies opt for vaccination days, when employees can receive a flu shot for a nominal fee. But for those companies that haven’t extended their arms for a flu shot, officials said it’s time to realize the benefits.

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Each year, the flu affects 10% to 20% of the US population with flu season stretching between December and February. Federal officials recommend that the first round of shots go to elderly people, pregnant women in their second and third trimesters, and those with chronic illnesses.

Most pharmacies and doctors’ offices offer vaccinations. The cost tends to vary, with vaccines ranging between $5 and $20. But in almost all scenarios, vaccination proved to have a higher net benefit than non-vaccination, the study said.

But it’s not only adults who can benefit from the flu vaccine. Children should also receive vaccinations.

The costs associated with Tylenol and other drugs to keep aches under control can add up. For that reason, a flu vaccine can eliminate an extra trip to the drug store, the Daily News story said.

Jobless Claims Dip Slightly

August 22, 2002 (PLANSPONSOR.com) - Even the jobless claims numbers appeared to wilt in last week's heat, slipping slightly to 389,000, a drop of 2,000 from the week before.

The US Department of Labor noted that the four-week moving average for claims, designed to smooth out weekly fluctuations, rose by 5,750 to 388,250.

However, the count held below the 400,000 mark for the 10th week in a row, the longest such stretch since the recession began in March of last year.

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Wall Street economists had forecast new claims to fall to 386,000 from the original measure of 388,000 in the week of August 10, according to Reuters.

In an indication of a slowly improving labor market, the number of unemployed workers continuing to draw jobless benefits totaled 3.52 million for the week ending August 10, down slightly from the previous week. This figure had hit a high of 3.83 million in May.

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