Categories

Most recent posts

  XML Feeds

Search

« Task Force Raises Recommended Mammography Age; MedBen Continues with Current RecommendationsPresident Obama Vetoes Bill to Repeal ACA »

Employers More Invested in Wellness Incentives

01/11/16

  10:44:00 pm, by MedBen5   , 346 words,  
Categories: News, Wellness, Incentives

Employers More Invested in Wellness Incentives

blood pressure

"In it to win it"... it's a phrase frequently uttered by everyone from pro athletes to reality show contestants. And increasingly, the same philosophy applies to employers that offer wellness programs as well.

According to BenefitsPro, a recent survey of human resources professionals found that from 2010 to 2015, the median financial incentive for participation in certain health programs nearly tripled, from $150 to $400. The largest incentives are tied to getting annual wellness exams and screenings and tracking physical activity, both of which paid plan members a median of $100 – typically through reductions in premiums and contributions to member health accounts.

More employers tie incentives to participation (47%) than health outcomes (34%), while 18% use a combined criteria. As for how employers measure the success of their wellness program, 35% base it solely on member participation (down from 55% in 2010) and 17% consider "employees’ attitudes toward health and recognition of the importance of healthy living."

It's probably not a coincidence that wellness incentives have risen since the 2010 passing of the Affordable Care Act, which allows employers to offer bigger rewards. But it's obviously important to use the incentives wisely, to realize the maximum return on investment, in terms of employee satisfaction in addition to long-term monetary savings.

Through its WellLiving offering, MedBen has extensive experience in helping clients design wellness programs that provide support through financial rewards. We can help your business develop an incentive program appropriate to plan member needs – complemented by actionable reporting that not only demonstrates the overall progress of your program, but shows in pure dollars-and-cents whether or not the plan is benefiting you financially as well.

Moreover, our incentive recommendations are backed by a knowledgeable Compliance team that can advise on the legalities of the incentives, and offer guidance on ways to ensure that such incentives are equitable for everyone.

A strategic and educated approach to incentives can elevate a wellness program from a simple "perk" to a force for real and lasting change. To learn more abour how MedBen WellLiving can benefit both employee health and the bottom line, contact Vice President of Sales & Marketing Brian Fargus at bfargus@medben.com.

No feedback yet