SCHAUMBURG, IL, Sept. 7, 2017 /PRNewswire/ - Assurance has recognized Avison Young as a Minimizing Risk, Maximizing Health (MRMH) Award recipient. Avison Young is the world's fastest-growing commercial real estate services firm.
The MRMH Award is open to all Assurance clients that work alongside the Top 50 U.S. insurance brokerage to achieve quantifiable results in minimizing workplace risk and maximizing the health and well-being of employees. Clients must meet certain criteria to qualify, including a large, quantifiable reduction or improvement in a variety of key areas.
In 2014, Avison Young Chair and CEO Mark Rose underwent a transformation by embracing a new lifestyle of healthy eating and regular exercise. He was extremely passionate about his journey to health and wanted to share this passion with employees. One year later, Avison Young introduced a weight-loss and wellness coaching challenge and incentivized employees by tying medical contributions to participation. The subsequent increase in engagement kicked off a larger focus on wellness and Health Savings Account insurance plans (HSA).
"For Avison Young, having a happy, healthy workforce allows us to continue delivering leading-edge, innovative solutions to our clients," comments Rose. "That's a cultural foundation of this company. Be different by being collaborative – and wellness is a major part of that."
Assurance and Avison Young worked together to choose a new wellness vendor, formalize the wellness program and focus on HSA plan participation. Previously, the company offered four medical plans, including two Preferred Provider Organizations (PPOs) with 80% participation and two HSAs with the remaining 20%. Pam Mazza, a Principal of Avison Young and the company's Chief Human Resources Officer, pushed to put more emphasis on the HSA plans.
"It was our intent to drive enrollment into HSAs because, as we all know, by the year 2023 Medicare, in its current form, is going to be unsustainable," says Mazza.
Increasing participation in HSA plans would save money for both employees and the employer. The lower premiums prevent employees from paying for coverage they rarely use, as is often the case with PPOs. Higher deductible limits and a focus on wellness and prevention also help employees become engaged healthcare consumers.
To educate Avison Young's 1,400-plus U.S.-based employees on the upcoming wellness initiatives and benefits of using HSA plans, more than 40 face-to-face meetings were conducted within a 14-day span. Avison Young's determination to bring an even more comprehensive benefits package to employees caused a 52% increase in HSA plan participation, and wellness participation increased 46%. Avison Young's focus on the physiological and financial wellness of employees has led to more than $750,000 in savings.
"The team at Avison Young has done a tremendous job of dedicating time and resources to help get the message across and to get people to engage in wellness programs and this benefits strategy," adds Assurance Principal Paul Bartman. "The MRMH Award is a special award of which they should be very proud. I know we're very proud to be a part of it."
About Avison Young
Avison Young is the world's fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,400 real estate professionals in 80 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial, multi-family and hospitality properties. Visit Avison Young at www.avisonyoung.com.
Assurance is among the largest and most awarded independent insurance brokerages in the U.S. A "Top 50" broker and repeated national "Best Place to Work" winner, Assurance creates value by minimizing risk and maximizing health for 6,000 businesses and individuals across the country. Visit Assurance at www.assuranceagency.com.
SOURCE Avison Young Commercial Real Estate (BC)