Achieving Health Equity: The Role of WageWorks in Bridging the Gap
With the rising cost of healthcare, unequal distribution of resources, and systemic racism, achieving health equity has become more important than ever. All individuals should have the opportunity to attain their highest level of health, regardless of race, gender, income, or social status. While there are many factors that contribute to health disparities, access to affordable healthcare is a crucial component. This is where WageWorks comes in – playing a significant role in bridging the gap, thereby contributing to the vision of achieving health equity for all.
What is WageWorks?
WageWorks is a benefits company that offers a variety of programs, including Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), and commuter benefits. These programs allow employees to set aside pre-tax income to pay for eligible healthcare expenses and other qualifying expenses, such as transportation costs.
The Benefits of WageWorks
The benefits of WageWorks are many and varied. One of the most significant benefits is that it provides greater access to affordable healthcare for employees. For example, an employee with a chronic medical condition whose treatments are not fully covered by their insurance plan may use their HSA or FSA to pay for the out-of-pocket medical expenses. They can also use their commuter benefits program to pay for transportation expenses, such as parking fees or public transit fares. This type of flexibility and financial support can help to alleviate the stress, anxiety, and financial burden that employees may incur while trying to manage their healthcare costs.
Bridging the Gap
WageWorks plays an essential part in bridging the gap when it comes to health equity. It does this by allowing employees to use pre-tax dollars to pay for healthcare-related expenses, making it easier and more affordable. Access to affordable healthcare is a fundamental human right, and WageWorks ensures that employees have that opportunity.
Moreover, WageWorks focuses on prevention and wellness, which can help prevent chronic diseases and reduce health risk factors. By providing resources and support to encourage healthier lifestyle choices, WageWorks helps to promote engagement and healthy habits.
Examples of Success
One example of WageWorks’ success is a program they implemented to help employees manage their diabetes. The program provided educational resources and support to help employees manage their condition, which led to a significant reduction in missed workdays and healthcare costs. Another example is a program that offered a mental health wellness program to employees. The program provided resources and support for employees dealing with mental health issues, which ultimately led to improved mental health outcomes and a reduction in healthcare costs.
Conclusion
WageWorks plays an instrumental role in achieving health equity by providing access to affordable healthcare and promoting wellness. Its programs and resources help to bridge the gap in healthcare disparities while also supporting healthy living. By prioritizing employee healthcare needs and providing resources and support that focus on prevention and health risk reduction, WageWorks is making a significant contribution to bridging the gap and improving health equity for all.
