Let’s talk about wellness dollars! These valuable funds are often underutilized but hold immense benefits for employees.
By partnering with insurance company consultants, HR leaders can unlock the full potential of wellness dollars and allocate them toward approved expenses, including funding impactful wellness programs.
What are wellness dollars?
Wellness dollars are insurance funds used by employers for health and wellness initiatives. Research shows that investing in employee health and wellness increases happiness, creativity, productivity, and retention, while reducing costs, boosting profits, and enhancing morale.
How do wellness dollars work?
Typically, an employer contracts with an insurance company to receive wellness dollars. These funds can be used to subsidize or fully cover the cost of health and wellness programs. The goal is to motivate employees to make healthier choices, resulting in improved well-being, increased productivity, and reduced insurance claims.
The benefits of using wellness dollars
1. Empowering employees in a cost-effective way
Wellness programs not only improve your employees’ health but also generate a significant return on investment. It’s a win-win situation that boosts well-being and productivity!
2. Enhancing the health and wellness of employees
Companies with wellness programs report less burnout, lower stress levels, improved engagement, and reduced risk of injury among employees.
3. Elevating your benefits packages
By offering more comprehensive benefits, you gain a hiring edge and stand out among competitors.
4. Boosting engagement — and your bottom line
Happier employees are more productive employees. Research suggests that corporate wellness programs can increase productivity by a full day per month per employees.
How to leverage wellness dollars
To make the most of your wellness budget, collaborate with your insurance company consultant. They offer insights on eligible expenses and help customize a program that suits your employees’ needs. Additionally, they can aid in monitoring progress and evaluating the success of your wellness efforts. By leveraging their expertise, you can efficiently allocate funds for maximum impact and ensure employee engagement.
Avoid wasting your wellness funds – utilize them before they expire. If you have leftover funds and aren’t ready to start a new program, consider pre-paying for your upcoming plan to kick off the new benefit year effectively.
Aaptiv: an all-in-one employee fitness and well-being solution
Aaptiv’s all-in-one fitness solution addresses the two biggest barriers to participation: lack of interest and time. With 10,000 on-demand and AI-powered workout plans tailored to employees’ interests, fitness levels, and schedules, Aaptiv makes it easy for everyone to find a routine that fits their lifestyle.
Additionally, Aaptiv provides access to one of the largest gym networks in the country, including 20,000 local and national brands, as well as boutique studios— available exclusively as an employer/health plan benefit, with multiple membership options to fit any wellness budget.
Aaptiv’s insights enable HR leaders to monitor employee engagement, measure program effectiveness, and make informed decisions about future health initiatives. It creates a culture of wellness, provides a strong return on investment, and maximizes the potential of corporate wellness funds.
How to start using wellness dollars with Aaptiv
- Request a 30-min demo with an Aaptiv team member to learn about our program options.
- Receive a tailored proposal to fit perfectly into your budget.
- Start the implementation of your new wellness program!
Schedule a Demo
For brokers looking to support clients, you can share our comprehensive 2024 Wellness Dollars Guide. Download it here.
