News Release
20600 Chagrin Blvd. Suite 450
Cleveland, OH 44122
Contact: Lisa Holland-877-747-1113
lisaholland@simplicityhealthplans.com
www.thestayfitplan.com
FOR IMMEDIATE RELEASE—FINAL
February 28, 2014
Gilbane, Inc. Launches Health Index Calculator™
To Help Employees Achieve Financial Wellness
The StayFit™ Plan is Gilbane’s strategic wellness partner and trusted advisor
CLEVELAND, OHIO; February 28, 2014 – According to David Tyrie, Head of Retirement and Personal Wealth Solutions at the Bank of America Merrill Lynch (BAML), “leading-edge” employers are looking at their benefits offerings in a more holistic way and are considering more comprehensive financial education and solutions that may help their employees achieve financial wellness and become more productive on the job.
In fact, in a recent BAML report, 81% of employers believe that it is their responsibility to help employees achieve financial wellness. Employers hoping to address financial wellness at the worksite are unlikely to succeed unless they have an effective method of measuring the population’s financial risk in place.
The following client case study introduces the Health Index Calculator™, a patent-pending physical and financial risk assessment tool developed by Simplicity Health Plans. The Health Index Calculator is an innovative solution designed to help employers assess and measure the physical and financial risks of their workforce so they can make informed decisions about their benefit programs and service offerings.
Gilbane, Inc. is one of the largest privately held, family-owned real estate development and construction firms in the industry with over 4,000 covered lives and business unit offices in multiple U.S. locations and international cities. As one of America’s safest builders, protecting the health and safety of Gilbane employees is a top priority. As such, the Gilbane senior leadership is committed to cultivating a healthy and wealthy workforce. The myHealth Wellness Program incorporates a family philosophy and the “Gilbane Cares” approach. An integral part of the overall Gilbane business strategy, myHealth is integrated into the Gilbane employee benefit program and company business policies.
The Gilbane workplace wellness program has been in place for more than 5 years and continues to evolve. The program has had a positive impact on the physical health of the Gilbane employees and their families, effectively managing healthcare costs for this large self-funded organization. Gilbane also recognizes that financial wellness may be another opportunity to improve workforce productivity and continue to reduce healthcare costs.
Research has shown that individual financial stress leads to poor health, which in turn leads to increased healthcare spend and depletion of financial resources. In most cases, individuals do not understand how
much money is spent on unhealthy habits and how poor health negatively impacts their ability to accumulate personal wealth.
The challenge for Gilbane was to determine how to measure financial risk among its workforce so they could help educate employees about the implications that personal health risks have on financial wellness. Gilbane was excited to find the Health Index Calculator from The StayFit Plan a division of Simplicity Health Plans. The Health Index Calculator allowed Gilbane to measure the population’s financial wellness risk. In fact, in November 2013, Gilbane decided to replace their traditional Health Risk Assessment with The Health Index Calculator because the tool is able to assess BOTH physical health and financial risk of the workforce.
Similar to a traditional HRA, the online Health Index Calculator helps participants identify health and wealth risks and is then able to forecast the financial impact of poor health habits and the potential future savings of improved health habits. The tool easily integrated all of Gilbane’s wellness, financial and EAP services which allow participants immediate access to behavior change and financial service programs that could help them begin their journey to improved health and financial security.
Gilbane implemented the Health Index Calculator in June of 2013. Preliminary employee participation exceeded expectations and continues to increase with additional communications and education. In 2014, Gilbane will offer an incentive for participation. Additional outcomes reveal the following:
 87% of participants reported improved knowledge and awareness about the connection between health and wealth.
 74% of participants reported that the HIC showed them how incremental health changes can improve their ability to accumulate personal wealth.
 80% of participants reported that they plan on changing their health habits in the next three (3) to six (6) months based on the information they learned from the HIC.
 70% of participants reported that the Health Index Calculator was easy to use.
Gilbane is provided with an aggregate report that provides a financial and physical risk snapshot of the population. This information assists Gilbane with incorporating additional services through benefit design, financial services, financial education and other wellness programs that may help their employees achieve overall wellbeing.
“We feel that this unique and innovative approach will catch on very quickly and gain the attention of employers seeking to address financial wellness in the workplace” said Larissa Chevalier, Human Resources Director.
About The StayFit™ Plan a division of Simplicity Health Plans
The StayFit Plan is a national health and wellness company that uses Simplicity Health Plans superior proprietary technology platform and patent pending products to impact the health and wealth of employee populations. As a strategic partner and trusted wellness advisor, we create a comprehensive wellness program that focuses on the key health and wealth factors that drive 75% of illness and claims
cost. To learn more contact Lisa Holland at (216-367-3092) or email at stayfitinfo@simplicityhealthplans.com
About Gilbane Inc.
Gilbane Inc., based in Providence, Rhode Island, is one of the largest privately held family-owned real estate development and construction firms in the industry. Proudly family-owned and operated since 1873, Gilbane’s rich history combines with their extensive knowledge of today’s ever-changing demands, allowing them to deliver the best facility solutions for their clients. Gilbane is a three-time member of the FORTUNE100 Best Companies to Work For” list for 2009, 2010, and 2011.Gilbane Inc. comprises two operating companies: Gilbane Building Company and Gilbane Development Company. To learn more visit www.gilbaneco.com
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