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More Companies Using Wellness Incentives -- And Bigger Ones At That

03/06/13

  05:38:09 pm, by MedBen5   , 247 words,  
Categories: News, Wellness, Incentives

More Companies Using Wellness Incentives -- And Bigger Ones At That

Corporate employers expect to spend $521 per employee on worksite wellness incentives in 2013, according to a new survey by Fidelity Investments. That is 13% more than the employee average of $460 reported in 2011, and double the $260 average reported in 2009.

As Employee Benefits News reports, not only are the value of wellness-based incentives increasing, the number of employers who use them to promote better health is going up as well. The survey found that 86% of employees now offer such carrots, an increase from 73% in 2011 and 57% in 2009.

To a much smaller degree (15%), respondents said that they will require employees to complete a health risk assessment or biometric screening to determine health plan eligibility this year. Failure to complete such health activities would result in a reduced benefits package or even a loss of benefits.

At MedBen, we have found that offering incentives can indeed help to drive participation in your wellness plan. That’s why we work with our worksite wellness clients to develop an incentive program appropriate to the needs of your group.

Financial rewards to participate in the program, such as offering lower premiums to members who get annual checkup, have proven effective – but so have non-financial incentives. Sponsoring a team competition, giving recognition through the company newsletter, or sharing member success stories can be equally valuable, so long as management shows a shared wellness commitment.

For additional information about MedBen Worksite Wellness, visit MedBen.com or e-mail Vice President of Sales and Marketing Brian Fargus at bfargus@medben.com.

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