The word “health” probably calls to mind nutritious foods and exercise, but a person’s overall well-being is so much more than a balanced diet and regular physical activity. Mental, emotional, and financial factors are deeply connected to physical health. For organizations running an employee benefits program, neglecting even one of these areas can lead to poorer health outcomes and higher costs.  

Consider depression, which affects nearly one-fifth of U.S. adults. Though depression is a mental health condition, research has shown that it leads to increased risks of developing chronic conditions, such as diabetes or heart disease, both of which are associated with long-term health complications and costly medical treatments. Diabetes alone costs the healthcare system $413 billion annually, according to the American Diabetes Association.  

It is impossible to address the entirety of a person’s health without acknowledging the influence of physical, mental, emotional and financial factors. Designing an employee benefits program that captures all of these areas may seem complicated, but employers who deploy a holistic, person-centered strategy can improve employee health and reduce the onset of high-cost conditions.  

The financial impact is significant, but it isn’t the only benefit of taking a holistic approach to benefits. Healthier workforces frequently boast lower rates of absenteeism and higher levels of employee engagement.  

One study from Harvard Business Review found a large, positive correlation between employee well-being and performance across all types of industries. Research suggests that a meaningful increase in employee well-being results in an average productivity increase of roughly 10%.  

When employees feel supported by their organization, they are more likely to stay engaged. A benefits package that meets employees’ various health needs is an excellent recruitment and retention tool, helping your organization attract top talent and boosting employee morale.  

No matter the size of your organization, there are many opportunities to design a holistic employee benefits program that helps you stand out among your competitors and keeps your existing workforce satisfied.  

Creating a Holistic Benefits Package  

Behavioral health support: Good mental health is critical to a person’s ability to do their job well. The World Health Organization estimates that 12 billion working days are lost globally every year to depression and anxiety, costing $1 trillion in lost productivity. Providing behavioral health resources, such as digital tools or access to virtual treatment options, can make support more accessible for members.  

Financial wellness: Financial stress can significantly affect an employee’s well-being. Many studies have shown a correlation between financial worries and psychological distress. By offering resources to help employees manage their finances, such as access to financial wellness or retirement planning coaches, your organization can alleviate some of this stress, improving employees’ overall well-being. Working with a money coach can help your employees have a better understanding of their finances, especially as they prepare for retirement.   

Strategic care management: A small number of costly conditions is usually responsible for the majority of an employer’s healthcare costs. Organizations can target these high-cost areas, such as cancer, cardiovascular, and musculoskeletal care, using centers of excellence programs, which provide comprehensive, quality care for a specific procedure or condition. This allows members to gain access to high-quality, cost-effective care, which can help them avoid complications or readmissions.  

Wellness programs: Chronic diseases are the leading cause of illness, disability, and death in the U.S., according to the Centers for Disease Control and Prevention. Developing healthy eating habits, getting regular exercise, and quitting smoking can help reduce the likelihood of developing a chronic condition. Employee wellness programs can encourage individuals to make healthier lifestyle choices through cash rewards or other incentives.  

Access to supplemental benefits: There is no one-size-fits-all approach to benefits. Everyone has different needs, depending on their circumstances and stage of life. Some employees may be looking for family planning benefits, for example, while those nearing the end of their careers may want resources to help them plan for retirement. With supplemental benefits, your organization can give employees an opportunity to fill in gaps in their coverage, helping them protect what matters most.   

While many think of health purely as a physical condition, a person’s whole health is shaped by many social, economic, and emotional factors. Understanding how these elements influence one another is critical to supporting an individual’s total well-being. A holistic approach to employee benefits goes beyond treating a single condition to help employees lead healthier lives overall.   

Employees want to feel supported by their employer, and the majority rate benefits as a very important contributor to job satisfaction. Taking a holistic approach to benefits can help you increase employee loyalty and engagement while also serving as a powerful recruitment tool.  

Our team recognizes the importance of building a person-centered benefits program. Every day, we help clients integrate programs and solutions designed to address the holistic health of their workforce.  

From custom wellness programs to targeted healthcare solutions, we have the tools and resources to help you design a benefits package that supports the complex range of factors that influence your employees’ health and well-being.  

Here are some ways we can support you:  

• Analysis of claims data to identify trends in your health plan and opportunities for cost savings 
• Access to Medicare specialists to support employees approaching retirement or transitioning to Medicare   
• An extensive network of behavioral health partners  
• Care management strategies to help target high-cost drivers on your health plan  
• Access to money coaches who can provide individuals with personalized, one-on-one financial support