Wellness incentive rewards
Is It Necessary to Incent Companies to Initiate Employee Wellness Programs?
Wellness incentive rewards may seem like an effective way to get staff members excited about Company Health and Wellness Program – but is it wise?
This helps and encourages organizations to understand the importance of maintaining a healthy employees, not only for the welfare of its staff members, but as well as the welfare of the company bottom line … then, yes, it could be necessary.
Tax Breaks as Wellness incentive rewards
In 2007, two senators decided to band together to create the “Healthy Workforce Act.” This act is designed to encourage organizations to keep staff members healthy and prevent disease. The senators believed that having a country focused on “well care” versus “sick care” would decrease the overall costs of medical care for everyone. They decided to start with America’s employees.
The legislation, introduced by Iowa Senator Tom Harkin and Oregon Senator Gordon Smith, notes that companies would receive a Wellness incentive reward – a fifty percent tax credit – if they offer to their staff members a Company Health and Wellness Program that meets the following criteria:
1) A health education and awareness component, which could include Health Risk Assessments and Health Screening and Biometric Testings.
2) A behavioral change component – such as counseling, seminars, or self-help materials to empower staff members to lead healthier lifestyles.
3) A supportive environment component – including providing meaningful incentive rewards to participating staff members, such as a reduction in medical premiums or allowing staff members to engage in walking Employee Wellness Plans during the workday.
4) The creation of an staff member engagement committee – which would tailor the Company Health and Wellness Program to the needs of the employees at a particular company.
If this law gets passed, many organizations will be scrambling to offer Employee Wellness Plans in hopes of receiving the Wellness incentive rewards.