With open enrollment at Hollis Cobb just completed, the company leadership has made the decision to absorb all of this year’s health insurance premium increase for employees by paying to lower the cost on the most popular insurance plans. This means the employees participating in the company’s group insurance plans will not have to pay more out of pocket than last year in order to keep their same health insurance coverage.
The company’s generosity in electing to absorb the additional costs is based on their dedication to encouraging the staff to maintain regular wellness check-ups and stay as healthy as possible in today’s busy, fast-paced work environment. It is important to the leadership that the company provides the entire Hollis Cobb team the opportunity to obtain health insurance coverage for prevention and quick treatment of any health issues.
To further encourage a healthy lifestyle among employees, Hollis Cobb gives partial premium rebates to employees who get annual wellness checks. The company makes this easy and convenient for the employees by bringing a Physician’s Assistant onsite four times a year to perform wellness checks for employees who choose to participate. Flu shots are also provided onsite for employees who want to receive them.
Hollis Cobb employees are encouraged to take part in the company’s insurance carrier sponsored Go365 program. Employees can earn points and be rewarded gift cards for maintaining various regular health check-ups, getting flu shots, measuring and recording the steps they walk each day, taking part in workouts and nutrition classes and other activities that promote total wellness. In addition, Hollis Cobb runs contests, and employees who reach silver, gold or platinum status within the Go365 program are eligible to receive half or a full month’s insurance premium back in the form of a bonus.
The Go365 program has a convenient app that can be downloaded to a Smart Phone making it easy for employees to keep up with their efforts to live a healthier lifestyle. This year, although health insurance premiums increased, Hollis Cobb did get a significant discount based on employee participation in the Go365 program. The company is a Go365 success story for our insurance carrier, Humana. More participation in the program next year could mean a greater discount in company health insurance premiums.
According to the Kaiser Family Foundation, average insurance premiums in the U.S. have increased 4% – 5% over the last year while average wages have increased 2% to 3.5%. Additionally, according to Kaiser, the average health insurance premium for family coverage in the U.S. has increased 22% over the last five years and 54% over the last decade. For some U.S. families the difference in wage increase compared to insurance premium increase is enough to cause them to drop their coverage.
Hollis Cobb is committed to providing the opportunity for affordable health insurance coverage to all staff, hence the decision to absorb this year’s premium increase. A healthy staff is a top priority at Hollis Cobb, and the company leadership does all they can to provide opportunities for the staff to make choices that promote personal and family health and wellness.