To tackle rising health insurance costs, employers are expected to offer more highly-incentivized wellness programs
Via Philippe Marchal, Celine Sportisse, Lionel Reichardt / le Pharmageek
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Many companies already offer incentivized programs such as antismoking campaigns and free fitness rooms. But with employer insurance costs rising, including a projected 5.8% this year, according to Towers Watson, corporate wellness services revenues are expected to grow in parallel—by an annualized rate of 8.8% over five years, to $11.3 billion by 2019, according to IBISWorld.
Companies “have a very large vested interest to make sure you’re healthy,” - All of this may mean more fitness trackers at work, the tracking of employee activity data, the building of yoga studios in offices and the hiring of in-house doctors to run office health clinics, said Malay Gandhi, managing director of health-focused venture-capital firm Rock Health. - “It’s an advantage to make employees as productive as possible,”