CVS Caremark: Redefining a Large Employer’s Health & Welfare Strategy | Business Roundtable

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  • As a pharmacy innovation company, CVS Caremark is dedicated to putting people on the path to better health. The company believes that the health care innovations it develops for the benefit of its customers and clients can also be leveraged to help its employees live healthier and happier lives. 
  • CVS Caremark sees firsthand how the prevalence of chronic conditions is reaching epidemic proportions. According to research from the RAND Corporation, cited by the company, 1 in 2 Americans are living with at least one chronic condition. Further, data from Hewitt Associates cites eight risks and behaviors that drive 15 chronic conditions which account for 80 percent of total costs for all chronic illnesses worldwide. If employers address at least three of these behaviors effectively they can help improve the health and wellbeing of their employees.
  • With the data on chronic conditions in mind, CVS Caremark reinvented its Colleague Health Care Strategy with a focus on providing choice through a universal platform and requiring personal accountability. 
  • In 2010, CVS Caremark launched its points-based incentive program, WellRewards, to encourage healthy behavior amongst its employees. Additionally, that same year, the company also established a $180 incentive for employees who complete its Wellness Review health care questionnaire.
  • In 2013 and heading into 2014, CVS Caremark now encourages employees to complete both a health screening and its Wellness Review in order to avoid a $600 increase in premiums. In addition, employees can complete quarterly challenges and activities to earn an additional $200 in Values in Action points.
  • In the first year, 60 percent of CVS Caremark employees completed a Wellness Review. By 2013, 90 percent of CVS Caremark employees had a health screening and completed a Wellness Review.