More and More Employers Are Offering EAPs

employeeassistanceOver the past 20 years, the number of businesses with employee assistance programs (EAPs) has more than doubled, according to a report from the Society for Human Resource Management (SHRM). Seventy-four percent of businesses offer EAP services. Many have rapidly adopted EAP services to help lower costs. Employees with untreated mental health issues and substance abuse problems can lead to absenteeism, limited productivity, high turnover, and more disability claims — all of which adds costs to employers.

There is a $3 and $10 return on every dollar spent on EAPs, according to data from Employee Assistance Trade Association (EASNA). IBIS World Industry Analyst Sarah Turk said, “As healthcare reform has required many businesses to offer employer-mandated health insurance, many businesses have looked toward cost effective employee benefits, including industry services, thus causing revenue for the Employee Assistance Program Services industry to rise 9.5% in 2014.” During the five years to 2014, industry revenue is expected to rise 5.6% a year to $4.5 billion. “Over the next five years, many EAP providers will focus on bolstering employee utilization rates,” says Turk. A study by Towers Watson reveals that while 85% of employers offer stress management services, only 5% of employees use these services. As a result, EAPS will focus on communicating the availability of services and overcoming employees’ reluctance to seek help for mental health disorders

Last Updated 08/10/2022

Arch Apple Financial Services | Individual & Family Health Plans, Affordable Care California, Group Medical Insurance, California Health Insurance Exchange Marketplace, Medicare Supplements, HMO & PPO Health Care Plans, Long Term Care & Disability Insurance, Life Insurance, Dental Insurance, Vision Insurance, Employee Benefits, Affordable Care Act Assistance, Health Benefits Exchange, Buy Health Insurance, Health Care Reform Plans, Insurance Agency, Westminster, Costa Mesa, Huntington Beach, Fountain Valley, Irvine, Santa Ana, Tustin, Aliso Viejo, Laguna Hills, Laguna Beach, Laguna Woods, Long Beach, Orange, Tustin Foothills, Seal Beach, Anaheim, Newport Beach, Yorba Linda, Placentia, Brea, La Habra, Orange County CA

12312 Pentagon Street - Garden Grove, CA 92841-3327 - Tel: 714.638.0853 - 800.731.2590
Copyright @ 2015 - Website Design and Search Engine Optimization by Blitz Mogul