Tis the season for open enrollment, the time of year when eligible employees have the option to join their company-sponsored health insurance plan and enroll in health insurance benefits. With healthcare costs on the rise, this time of year can be cause for stress and concern, but it doesn’t have to be! A wellness program is an excellent way to help keep healthcare costs in check and improve the health and well-being of your employees. And best of all, you don’t have to break the bank when implementing one! Read on for some ways to get more (with less!) from your wellness program.
1) Just Take the First Step!
Starting a wellness program doesn’t have to be complicated. There are many ways to make health and wellness a priority at your company, school, or organization, but you don’t have to tackle them all at once. Take the first step by focusing on one aspect of wellness at a time. Many of our customers initially use Movable’s group activity program as their first step into wellness by helping their team understand their activity levels and where they can be more active during the day. Focus on engaging your team, setting and reaching achievable goals, and keeping things fun! Later, take a stab at nutrition, stress, or financial wellness. One step at a time, you’ll be making an important impact on your employees’ well-being.
2) Use Wellness Funds
Many insurers support their clients’ wellness initiatives by providing wellness dollars. These funds are an allowance for companies to spend on wellness-related projects, from a physical activity program to treadmill desks for your team. Movable is an approved expense with most insurers, so if you’re looking to address rising healthcare costs, inquire with your insurer if you’re eligible for wellness funds. Your new program could pay for itself!
3) Incentivize with Discounts on Healthcare
Rewards are important “carrots” to entice employees to participate in a wellness program, and some of the most motivating incentives are discounts on health insurance premiums or health savings accounts (HSA) contributions. In fact, a study by the Society for Human Resource Management (SHRM) found that “organizations that found a positive ROI on their wellness dollars more often used incentives such as insurance premium reductions.” If you are seeking a return on your wellness investment, offering discounts on healthcare spends give you great bang for your buck — you’ll be incentivizing your team to prioritize their health while simultaneously reducing claims and curbing premium increases. Win win!
As you approach open enrollment, take the first step in tackling healthcare costs with Movable – we’re here to help you inspire movement while keeping wellness simple and engaging, so that you can get the MOST of our your wellness program!