As a business owner, you may have heard of workplace wellness programs. Workplace wellness has increasingly become a popular topic among employers, and wellness programs can help get employees excited about making healthier lifestyle choices. How do these wellness programs work, and what are their benefits for a small business?
Continue reading to learn about workplace wellness programs and why your business might consider them.
A workplace wellness program is an initiative designed to encourage the health and fitness of employees, and is generally offered by either an employer or a health insurance plan. Workplace wellness programs usually provide participation incentives for employees, such as premium discounts, gym memberships, and cash rewards.
Generally, there are two types of workplace wellness programs: participatory and health-contingent.
The ACA created new financial incentives for employers to offer wellness programs in order to promote healthier workplaces. According to the U.S. Department of Labor, the maximum reward to employers who use a health-contingent workplace wellness program plan is usually limited to 30 percent of the cost of employee-only health coverage (or 50 percent for wellness programs designed to reduce or prevent tobacco usage).
Many options are available for small businesses interested in workplace wellness programs. Examples of workplace wellness programs include:
These activities can motivate employees to make better long-term health decisions related to fitness and nutrition through short-term incentives, rewards, and recognition. Employers may also view these programs as investments in potentially improving workplace productivity and collaboration.
There are several great reasons for business owners to offer workplace wellness programs. In addition to the financial incentives mentioned above, wellness programs can help companies promote a healthier working environment for their employees.
Before your company begins a wellness program, you should discuss the topic with your employees to find out their degree of interest in participating in the program’s activities. Regardless of whether your business decides to start a workplace wellness program, prioritizing the health and well-being of your employees is always an important consideration for the success of any small business.
While not all small business health insurance plans offer discounts for workplace wellness programs, such initiatives are popular enough in the modern workplace that they may be worthy of your time and consideration, and are another benefit that employers should absolutely consider offering to their employees.
eHealth can help you find the right health insurance plan for your small business, including group plans with workplace wellness programs. Visit eHealth today or speak with one of our licensed health insurance agents to learn how you can quickly find and compare quotes for group health coverage from the best selection of small business health insurance plans available online.
This article is for general information and may not be updated after publication. Consult your own tax, accounting, or legal advisor instead of relying on this article as tax, accounting, or legal advice.