Why Employee Wellness and Education Is Critical to Our Industry

By Sam Boore, Employee Benefits Executive, InterLutions

Health insurance can be a complex field to understand leading to misconceptions, misinformation, and significant overspending. Studies indicate that over half of our employees do not fully understand their health plan, and 26% say this confusion has led to higher medical bills.

Employee benefit expenses are the second highest line-item in a credit union’s budget. Health plan expenses are rising at an unsustainable rate for an industry that prides itself on offering rich and competitive plans to attract and retain top talent.

Credit unions require a fresh and efficient approach to reduce high-cost health claims while enhancing their employees' quality of life. Effective and recurring educational offerings, coupled with a strategic wellness consultation, can help credit unions improve their culture to favor healthier outcomes for their employees, and lower expenses to their annual health plan premiums.

Why Wellness?

Research proves that employers who maintain a robust wellness strategy benefit from the following:

• Improved Employee Health: Robust wellness programs lead to better health outcomes for employees, such as reduced risk of chronic diseases through regular health screenings and preventive care.
• Increased Productivity: Research shows that healthier employees are more productive. Wellness programs that focus on physical and mental health can reduce absenteeism while improving productivity.
• Cost Savings: Effective wellness programs can reduce healthcare costs for employers by promoting healthier lifestyles and preventing costly medical conditions, ultimately reducing annual health plan premium increases.
• Positive Workplace Culture: A focus on wellness can contribute to a positive workplace culture, where employees feel supported and motivated to maintain a healthy work-life balance.
• Attraction and Retention of Talent: Offering comprehensive wellness programs can make an employer more attractive to potential hires and help retain existing employees.
• Data-Driven Decisions: Collecting and analyzing wellness-related data allows employers to tailor programs to meet the specific needs of their workforce, ensuring maximum effectiveness.

Why Education?

Recent data shows that employers who deliver effective and recurring education about their health plan options to employees benefit from the following:

• Utilization of Benefits: Educated employees are more likely to utilize their health insurance benefits fully, including preventive care services, which can lead to better health outcomes and lower overall healthcare costs.
• Avoiding Penalties: Helps employees comply with enrollment deadlines and avoid gaps in coverage.
• Understanding Networks: Educates employees on in-network vs. out-of-network providers to reduce claims costs and out-of-pocket medical expenses.
• Navigating Claims and Billing: Reduces confusion and disputes by understanding how claims are processed and what is covered.
• Health Savings Accounts and Flexible Spending Accounts: Helps employees save pre-tax dollars for medical expenses.
• Employee Satisfaction: Providing education about health insurance plans can increase employee satisfaction and engagement, as they feel more confident and supported in their healthcare choices.
• Accessing Mental Health and Wellness Benefits: Many plans embed mental health resources, which employees may overlook without proper education.

What Can Be Done?

A thoughtful approach to employee benefits combines traditional insurance offerings with wellness support – two essential elements that are often treated separately but are deeply interconnected. By promoting both physical and mental well-being and helping employees better understand how to navigate their benefits, credit unions can foster a healthier, more informed, and more engaged workforce.

At InterLutions, we aim to be a resource for your entire credit union – not just in securing benefits, but in helping employees make sense of them. Our team partners with you to provide clear, ongoing education so your employees can confidently use their benefits, make informed healthcare decisions, and feel supported every step of the way.

We also assist credit unions in building wellness committees and developing customized wellness initiatives that align with their team’s needs. These efforts can lead to reduced absenteeism, improved morale, and more thoughtful use of healthcare resources.

Our role is to support your credit union with tools, knowledge, and guidance – not just at enrollment, but throughout the year – so your team feels equipped and empowered. If you are looking to make your employee benefits strategy more engaging, sustainable, and effective, we are here to help.

Connect with InterLutions today to learn how we can make a difference for your team!