Lifestyle Health Plans, Group Health Insurance Plans That Pay You For Good Health
According to the Centers for Disease Control and Prevention, 75% of the US health cost is due to chronic diseases. It’s no wonder that health care costs are skyrocketing and employers are wondering what to do to keep their health plan premiums from rising.
But what if there was a way to better manage the rising cost of healthcare? What if you could control your costs by addressing these health problems and lifestyle issues of your employees and their families?
This is where the Lifestyle Health Plans come in. Through a more preventative health care approach, applying healthy habits and wellness, and taking a proactive commitment to disease management, health care costs can be decreased. It’s about getting employees engaged in improving their health. When this is done it helps lower healthcare costs. Lifestyle Health Plans are designed to encourage healthier living and making positive health changes. Not only do healthier employees file less insurance claims, but less disability claims as well. This leads to lower health insurance premiums. Employees are more productive at work too and tend to be out less for illness.
But what would make someone want to take a more proactive approach to their health?
Can you say incentives? Yes, by incentivizing your employees, the lifestyle plans work to reward healthier living. As the name suggests, Lifestyle Healthy Rewards is an incentive-based wellness program that provides participants the opportunity to lower their out-of-pocket expenses by earning credits for completing certain tasks as well as earning additional cash incentives for managing their health and health risks.
There are 16 Lifestyle Group Health plans to choose from and each plan comes with a Healthy Rewards Wellness Program.
Members can earn WELLNESS Credits each year that your company is enrolled in a Lifestyle Health Plan. Wellness points are rewarded based on the completion of a number of activities such as gym visits, health challenges, participation in preventative health such as wellness visits, dental exams, and vision exams. Participants can even get credit for losing weight! At the end of each plan year, members can convert their wellness points to deductible credits that can be redeemed the subsequent enrollment year.
Members don’t have to wait for year two on a Lifestyle Health Plan to experience your first deductible credit. First year members that complete both the online Health Risk Assessment (HRA) and wellness lab testing within the first 60 days of their plan effective date receive a $500 deductible credit.
In addition, members in the Lifestyle Health Plan can receive Bonus Bucks. That’s cold hard cash. This is the cash incentive part! Any member who completes certain programs like tobacco cessation or personalized coaching programs for health issues such as diabetes and hypertension can earn money.
Other features of the Lifestyle Health Plans include:
National and regional provider networks
Available to employers with 25 to 500 employees
Fully funded Erisa plan designs
Optional Dental and Vision plans available
To learn more, contact me to see how the Lifestyle Health Plan might work for you and your employees. This just might be the thing your company needs to better manage the rising cost of health care and at the same provide a way to help your employees enjoy a healthier life.