As an employer, to try to drive change in medical claims, be sure you are also taking into the effect of the "Social Determinants of Health" (SDOH). These contribute significantly to comorbidity issues, outcomes, and ultimately employee absenteeism.
So, what exactly are these "social determinants of health"?
They include the following:
- Health care access & quality,
- Education access & quality,
- Social & community context,
- Economic stability, and
- Neighborhood & built environment.
They are, in essence, where we are born and raised, where we live and work, and ultimately the environment in which we age.
As an employer, a significant portion of employees' SDOH occurs under your roof. By looking at these factors and providing resources to your employees, you will not only impact the health of your employees but also start controlling medical claim costs.
Your employees obtain regular pay for their service. By having a steady job, employees can afford things like housing and food for their families. The company's insurance plans also cover most employees and are even monitored to be certain they are affordable according to ACA guidelines. Not just the medical coverage but the entire benefits package, including sick pay, leave coverage, vacation time, 401K plans, etc., contribute to an employee's overall well-being, both physical & mental. In addition, companies must also provide workers with compensation coverage, which keeps them safe at work and helps when something occurs on the job. Most employers can say they provide these basics, but how can employers add to these "basic" resources?
Let's look at how Venbrook helps our clients do more.
Fully insured insurance carriers (both small and large groups), as well as self-funded (ASO) plans, include some sort of embedded "wellness" services. You, as an employer, already pay for these benefits at your premium rates.
You might think that your employees would not be interested, but many carriers include incentives for employees to work towards. By informing the employees of these "perks," which are at no cost to them, you are caring for their whole well-being, not to mention you might be saving a catastrophic claim from hitting your plan. As an employer, you can share your own buy-in by participating as well and sharing your story.
There are many other ways to have a positive impact on your employee's health and well-being. To learn more, you can go to the CDC website as well as the National Institutes of Health website or reach out to me, and I can engage you with our Director of Wellness Jennifer Green.
If you'd like to learn more, please contact me at:
Lisa Prentice, CSFS, GBDS, VBS, ABCC
Senior Client Executive
lprentice@venbrook.com
949.698.0818
