Utilizing Health Insurance Premiums to Motivate Employees

The benefits that employees and companies alike can realize from a corporate wellness program are many, including increased productivity, a happier work environment, fewer sick days, and lower healthcare costs. What companies are rapidly realizing is that the greater the participation in the program, the greater the potential gains. One of the most effective methods of increasing both participation and employee engagement in wellness programs is to offer rewards or incentives to motivate employees.

 

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Participation-Based Incentives

Participation-based incentives are exactly what they sound like: incentives your employees can receive for simply taking part – and remaining active – in your corporate wellness program. This type of incentive is often tied to health-care premiums, with non-participants paying a higher monthly premium than participants, but other types of perks can also be effective. To find out what’s best for your company, consider what would be valuable to your employees, or contact us for help.

 

These incentives are beneficial for meeting objectives based on raising participation rates among current employees and getting newly hired employees to join. As a higher participation rate often means a higher ROI and healthier workforce, these incentives are a central part of many wellness plans. They are particularly relevant for companies with recently launched wellness programs that are trying to build an initial participating group of employees.

 

Outcome-Based Incentives

Outcome-based incentives, which are increasing in popularity with employers, are based on reaching predetermined goals or metrics, such as reaching (or maintaining) a certain BMI, cholesterol level, or weight. These types of incentives are popular for a number of reasons, including the belief that they can be tied to very specific health concerns of both the employer and employee. For instance, a company may be particularly concerned with the effects of obesity on their employees’ health, and can therefore target their employee’s fitness activities by incentivizing a weight-related outcome. Similarly, individual employees can also use these incentives as motivation to meet goals that are personal to them, such as warding off diseases they are hereditarily predisposed to, or reaching a longtime goal with an incentive that’s linked to quitting smoking.

 

Keep in mind that in regard to outcome-based incentives, current HIPAA laws state that employees must be given an alternative way of reaching an incentive if they are medically unable to do so. A validated walking program, such as that offered by Walkingspree, qualifies as the alternative standard for outcome-based incentives. Plus, not only does providing an alternative standard ensure that you comply with the law, but it also ensures that a greater number of your employees are able to take advantage of this opportunity to work towards healthier, happier lives.

 

At Walkingspree, we provide superior corporate wellness solutions centered on the numerous benefits of our corporate walking program. Our customized health and fitness solutions combine advanced monitoring and tracking technology with the built-in-fun of motivating incentives, rewards, and social interactions for programs that result in high engagement, healthier employees, and positive ROI. To learn more about the significant benefits that your company and your employees can realize with our corporate walking program, contact Walkingspree today.

 

2013-01-14T08:48:25+00:00