Tips for Improving Employee Wellness Programs

MediKeeper suggests using available data to better personalize programs, using social interaction to encourage wellness program participation and making virtual programs available to reach more of the workforce.

Seventy-one percent of employers see a positive impact on company health benefit costs from wellness programs, the Transamerica Center for Health Studies found.

MediKeeper, a provider of population health management tools, says continual advances in wellness technology mean that plan sponsors need to stay on top of the trends and adjust frequently in order to remain relevant in an increasingly competitive workplace environment. It has reported four trends to improve on health wellness programs.

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The firm recommends using intelligent personalization. Adding business intelligence/data mining capabilities delivers the ability to take data captured within the portal, manipulate it, segment it, and merge with other sets of data to perform complex associations all within each population groups’ administration portal. Generating reports targeted specifically to the information that plan sponsors are seeking, as well as layering various reports including biometrics, incentives, health risk assessments and challenges, will help them see what is working and what is not. MediKeeper says plan sponsors can use these results to inform and better customize the intelligent personalization side of your wellness program, and send messages to targeted groups from the reports, making them actionable instead of just informative.

Along the same lines, MediKeeper suggests using these high-tech smart analytics to get a better understanding of how effective wellness programs have been, and to highlight the areas that may need improvement in the future.

Online social interaction is becoming an increasingly important part of wellness platforms as well, according to MediKeeper. Through social recognition, which can include posting, sharing, commenting and other virtual interactions, employees can help motivate each other to reach their goals. Social recognition gives people a built-in cheering section and offers them the ability to provide support for their fellow co-workers through words of encouragement, gifts, and virtual high fives.

In addition, MediKeeper says, managers can promote their employees’ achievements by offering praise in an online public forum, or even further boost morale by handing out incentive points that can be redeemed for tangible rewards. “Ultimately, the more people feel appreciated and recognized for their efforts, the more likely they are to continually engage with a wellness program and portal,” the firm says.

Finally, MediKeeper says, the importance of a digital strategy and a virtual wellness program continues to grow. Since employees may work variable hours or work in several locations around the world, it simply doesn’t make sense to solely rely on lunch time health seminars that may not be accessible to much of the workforce. Instead of providing physical classes, consider hosting virtual programs that can be viewed at any time or any place. By making the wellness program available online, plan sponsors are able to reach a broader audience and make more of an impact within the entire working population.

“In order to maximize participation, make sure that your program is accessible via computer, phone, tablet and even a mobile app. The more convenient it is to use, the higher the participation will be, which is—or should be—one of the primary goals of your wellness program,” MediKeeper says.

MediKeeper’s white paper, “Four Emerging Employee Wellness Trends for 2019,” may be downloaded from here.

Many Retirees Outspend Planned Budget

However, a survey finds retirees with a guaranteed income stream from a pension or annuity are able to spend more.

Thirty-nine percent of retirees are spending more than they had expected, according to the “Global Atlantic Retirement Spending Study: Perception vs. Reality.” Forty-nine percent of pre-retirees believe planning for retirement is more difficult for them than it was for their parents.

The typical non-retired U.S. consumer older than 40 spends an average of $2,993 a month, and retirees spend 32% less ($2,008), according to Global Atlantic Financial Group. The areas where retirees are spending less are entertainment (29% less), dining out (24% less), traveling (18% less) and housing (23% less on mortgage payments and 22% less on rent).

When a retiree has a pension, they spend 39% more than those without a pension ($2,379 vs. $1,709), and 20.5% less than pre-retirees. Retirees with an annuity spend 37% more than retirees without an annuity ($2,545 vs. $1,850) and 17.6% less than pre-retirees. The areas where the retirees with a pension or an annuity spend more are on rent, dining out and recreation.

“Many Americans adjust their lifestyles and cut spending once they see how quickly costs add up in retirement,” says Paula Nelson, president, retirement, at Global Atlantic Financial Group. “Our study indicates that while those with pensions and annuities still often make changes as they age, there isn’t as much of a need to drastically adjust their spending. This doesn’t surprise us, as guaranteed income beyond Social Security can help retirees maintain the lifestyles that they are accustomed to, even after they stop working.”

Asked to rate the importance of income to pay for basic living expenses in retirement on a 10-point scale, 56% of non-retirees give it a 9. Sixty-six percent think they are on track to generate enough income to meet basic needs in retirement.

Global Atlantic Financial Group asked retirees what their top three financial regrets are. They said not saving enough (36%), relying too much on Social Security (20%) and not paying down debt before retiring (12%).

Forty-two percent of those with an annuity have financial regrets, compared to 58% of those without an annuity, and 43% of those with a pension have financial regrets, compared to 65% of those without a pension.

Global Atlantic Financial Group’s findings are based on a Echo Research survey of 4,223 people age 40 and older, conducted in September.

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