Sometimes it can be difficult to find room in the budget for incentives. One method that employers started using as an incentive to meet wellness goals is rewarding with paid time off (PTO). Allowing employees to accrue paid time off is a technique that can be beneficial for both the employer and employee. Paid time Read more…
Tag: return on investment
Benefits
Are Wellness Program Incentives Taxable?
The benefits of workplace wellness programs are endless. Not only is it useful for attracting top talent, but healthier employees inevitably lead to “lower medical claims costs, which leads to lower medical premiums, which leads to a better profit margin.” To boost engagement, most employers offer some sort of incentive to employees for participation. However, Read more…
Benefits
Why WageWorks May not Work for You
The number one rule of employee benefits administration is that no program should be one-size fits all. What is a one-size fits all solution? The best example is any basic reimbursement program. Gym reimbursement programs typically require employees to submit receipts for gym memberships, and then reimburse them through their wages. But this option doesn’t Read more…
Benefits
The PHIT Act: A Bill that Could Improve Employee Health
One tenant of healthcare wisdom is that healthcare should focus on preventative care, versus treating people for illness later. Another bill championing this approach is the PHIT Act, or the Personal Health Investment Today Act. The PHIT act is supported by both Democrats and Republicans, and would create a pre-tax benefit account for people. This account Read more…
Fitness Trackers
How to Run Your First Company Fitness Challenge
Employers are frequently turning to wellness programs to decrease healthcare costs, in particular, fitness challenges. Fitness challenges encourage employees to track their physical activity and get to know their co-workers. However, to run these program employers sometimes subsidize or provide fitness trackers. This approach, however, typically results in low engagement and a low return on Read more…
