Ever heard of Wellness Dollars?
Basically they are available funds, held in reserve, that health insurance companies offer as a part of some plans for reimbursing investments in your company’s wellness programs.
They may cover several perks you choose to offer your employees, ranging from chair massage to gym memberships; wearable devices to mindfulness workshops; yoga classes to Zumba workouts. Wellness Dollars allow and encourage experimentation with new programs and investments in your employee’s wellness initiatives.
Employers may choose an insurance plan that provides Wellness Dollars as an incentive to encourage employees to be healthier. Essentially, the more healthy people they have on their payroll, the lower the healthcare expenditures – leading to better profit margins. In short, Wellness Dollars are a win-win-win for insurance companies, employers, and employees alike.
So how do Wellness Dollars work, and how do you go about utilizing them?
- Contact your health insurance carrier and find out if Wellness Dollars are a part of your plan’s coverage.
- Find out what is eligible to be covered by Wellness Dollars as there may be some guidelines or restrictions on the sort of expenses that can be reimbursed.
- Explore your options by researching local partners and programs that both incentivize employees to remain happy, healthy, and engaged in the workplace, and are appealing to employees!
Still have questions? We have additional information on our Corporate Wellness Billing page, or you can contact us. Healing Hands is happy to work with your company’s insurance carrier to tailor our programs to your Wellness Dollars.