3 Efficient Wellness Program Incentives That Work

3 Efficient Wellness Program Incentives That Work

3 Possible Wellness Program Incentives

According to a RAND Health Report, an estimated 84% of employers with workplace wellness programs offer wellness program incentives. The same study referenced a much higher health-screening participation rate (57% more for clinical screenings) for employee wellness programs offering incentives.

Incentive programs can often be tailored to involve cash rewards, gym discounts, and more. Check out three wellness incentive ideas to increase your employee participation and add value to your workplace wellness program. Wellworks For You offers multiple incentive plan options to fit your company’s needs perfectly.

3 Possible Wellness Program Incentives

  1. Wellness Program Incentives.jpgEarn and Redeem

    In the “Earn and Redeem” model of the Wellworks For You incentive management program, the employer chooses a specific reward (such as a gift card or an additional paid vacation day). Once the reward is determined, Wellworks For You develops a point system which takes into account all of the events and various aspects of your company’s specific wellness program.

    As an employee participates in various programs and activities, they are able to reach certain point values, as determined by this customized point system. If they earn a sufficient amount of points, they become eligible to redeem the chosen reward.

  2. Cash Reward Toward HSA, FSA, or HRA

    Another option in wellness program incentives is to establish an annual monetary value to an activity, contest, or health screening that can be contributed to a healthcare account. A fitness challenge, for example, could be worth $15, while attending a health fair event could be worth $20. At the end of the year, the earnings of each individual participant are deposited into his/her HSA, FSA, or HRA account with a tax-favored status.

  3. Mandatory Incentives = Premium Adjustments

    An employer can designate a mandatory number of wellness events in which employees must participate throughout the course of the year. A common number of mandatory events is five, with the HRA or annual preventive exam counting as one of those five. Employees are motivated to take this mandatory number seriously, considering that at the end of the year they will be assessed anywhere between a 5% and 30% premium adjustment for the year that follows if they have failed to take part in the number of events that were designated.

Other popular formats for wellness program incentives include “stepping stones to wellness” and “build from basics.” The former uses prizes and cash assigned for specific events throughout the year to incentivize employees to participate, while the latter takes a more long-term approach to increasing participation.

The wonderful aspect of the wellness incentive programs examples above is that they can be adjusted and customized to fit the individual needs of your company. The wellness program incentives offerings of Wellworks For You are virtually limitless. Contact us today to get started by calling 800-425-4657.