What Is Health Equity and 7 Reasons Why it Matters for Your Business

Health equity means that everyone has a fair and just opportunity to be a healthy as possible by removing obstacles to health such as poverty, discrimination, and insuring everyone has access to the resources they need to maintain their health and wellbeing.

Health inequities or disparities are often influenced by factors such as socioeconomic status, geographic location and weather, race and ethnicity, gender and sexual orientation, and even disability.

Why should you care about health equity?

1. Your employee wellbeing: addressing health inequities strives for all employees to have equal access to healthcare, leading to better overall health and job satisfaction.
2. Enhanced productivity: healthier employees are more productive employees. They are less likely to be absent or come to work while sick, improving overall business performance.
3. Cost savings: preventive care, like preventive cancer screenings, and early treatment to reduce long-term healthcare costs, benefit both employee health outcomes and your business’ bottom line.
4. Attracting and retaining talent: businesses that offer equitable health benefits make your business more attractive to prospective employees and help retain current staff.
5. Corporate and social responsibility: A commitment to addressing health inequities aligns with social responsibility goals, as well as enhances overall reputation and brand image.
6. Legal and ethical compliance: Ensuring equitable health coverage is not just a “nice to have,” it’s often a requirement. Ensuring equitable health coverage helps your business comply with legal standards and uphold ethical principles of non-discrimination.
7. Diversity and inclusion: Meeting the diverse health needs of all your employees is a fundamental way you can address health disparities and support diversity and inclusion efforts.

Health inequities affect everyone in some form – your business and your employees are no exception. By understanding and addressing health inequities, your business can foster a healthier, more productive and inclusive workforce.

Economic data helps us measure the consequences of health disparities on employers and places of business. The Why Health Equity Matters fact sheet explores real-world health inequity, economic effects associated with health disparities, potential effects of change, and you can connect your employees to appropriate resources. To view more resources about health equity, you can also visit www.premera.com/healthequity.