What’s more coveted than working from home, unlimited paid time off, or child care assistance? Insurance coverage for weight loss drugs. Drugs like Ozempic, Wegovy, and Mounjaro – recently approved by the FDA for weight loss – can cost around $900 per month without insurance. With insurance coverage, the monthly cost drops to around $25.
9amHealth, a diabetes-care firm, surveyed 1,300 Americans in December 2023 about workplace benefits, finding that 21% of the respondents whose employers did not provide this benefit would be “very likely” or “likely” to change jobs if they had insurance coverage for the drugs. Sixty-seven percent (67%) of respondents who were already using a weight loss drug said that insurance coverage was an “extremely important” or “very important” consideration for staying with their current employer.
In an unrelated survey by independent medical-practice management firm Tebra, 10% of remote workers said they would return to the office in exchange for the weight-loss drugs being included in their benefits package. One in 16 responded that they would forfeit vacation days for the benefit.
If employee retention is an important focus for your business, speak with your benefits broker before open enrollment rolls around in 2024 to see if your coverage options match your employees’ desires. Otherwise, you risk folks leaving for better benefits, resulting in an unintended slimmer workforce.
For questions about other employee retention benefits, contact an RKW lawyer.
