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This Little-Known Incentive Can Provide Huge Benefits to Your Workforce

THIS LITTLE-KNOWN INCENTIVE CAN PROVIDE HUGE BENEFITS TO YOUR WORKFORCE
One of the best-kept secrets of many insurance providers is an incentive known as wellness dollars, a program in which the insurance company actually pays the employer to implement wellness programs by allotting a certain percentage of its premiums to be used to cover wellness-related purchases. Studies have shown that medical costs and absenteeism costs decrease as a company’s investment in wellness programs increases, so it’s time to put those wellness dollars to work.

Contact Your Insurance Provider

Before you start looking into the best options for your company, first call your insurance agent or carrier to confirm what your policy covers. Different companies have different allowances for what wellness dollars can be spent on, so you want to make sure you fully understand the terms of your policy.

Talk to Your Team

Once you have determined what your wellness dollars will cover, the next step should be to talk to your employees to see what they are interested in, what their health goals are and what services they would actually use based on the time they have available. Since most insurers have a maximum amount of expenses that will be reimbursed, it is important to make the most out of each dollar available.

Research Wellness Programs

There are a lot of options out there so you can get creative with your choices to best suit the needs of your employees. To accommodate busy schedules and family obligations, look into virtual fitness programs that offer online health and wellness classes (as a bonus, the whole family can take advantage of this). On-site options also work for many people, including yoga, meditation, nutrition workshops or even healthy snack options made available in the break room.

Benefits of Wellness Programs

Once the wellness programs are in place, employees should be highly encouraged to participate. Research has shown that healthier employees are more energized and productive, take fewer sick days and can lower your costs for insurance premiums. Investing in a culture of health and wellness for your employees can create a happier work environment and an overall positive image of the company. Contact Webb Insurance at 847-235-6001 or [email protected] for more information on this important policy feature.

 

For further information or if you have specific questions, please complete the form below and we will get back to you soon

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Referenced article here

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