Generally speaking, a bona fide wellness program must offer some type of discount or limited reward. There are many different types of rewards which can be given in a bona fide wellness program. They include a rebate of the premium, a discount on the price of the premium, a partial waiver of things such as co-pays and deductibles, and many more. As you can imagine, all bona fide wellness program s are different so these rewards will change based on the details of your program.
But although these rewards seem quite generous, there are some stipulations in place that govern bona fide wellness program s. For instance, rewards given must come in below a predetermined percentage of the employee only health plan costs. The regulations are based on certain percentages; mainly 10, 15, and 20.
Additionally, a bona fide wellness program must be in place to promote overall good health as well as disease prevention. For instance, some bona fide wellness programs may offer a reduced premium to participants who achieve a certain goal such as low cholesterol. These savings go a long way toward employees doing whatever it takes to reach the goals set forth by the bona fide wellness programs. And in turn, this leads to more healthy employees all around.
The rewards set forth in bona fide wellness programs must be available to all employees who are in similar situations. If it is not feasible for a participant to reach a particular standard, an alternative must be put into place. This does not need to be done upon establishing a bona fide wellness program. Instead, alternatives can be developed along the way.
As you can see, there are many benefits that go along with establishing a bona fide wellness program . For companies, this is a great way to give employees something to strive for. After all, when employees know that they are going to be rewarded they are much more likely to work as hard as they can to stay in good health.
Overall, bona fide wellness programs are taking off, and learning the details is not as hard as you may think. You should check into whether or not your employer offers a bona fide wellness program. Although you would probably know about a bona fide wellness program if available, you may have passed it by without recognition.
Source: http://www.ArticlePros.com/author.php?John Payton
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