Search
 

Making Health Pay Off

When it comes to wellness programs, money talks. And now that the the rules governing cash incentives have been clarified, a growing number of companies are making offers few employees can refuse

By Robert Rosenberg | Updated on September 05, 2007

While wellness programs have long been a feature of employer-based healthcare plans, doing the right thing, at least from a health perspective, was not reward enough for those at greatest risk from such behaviors as obesity, smoking and other behaviors. An incentive, such as cash, was clearly needed, but companies held off on cash proposals, until the rules were clear.

Now there may be an explosion of wellness programs, thanks to a joint declaration issued in December 2006 by the Internal Revenue Service, the Department of Labor and the Department of Health and Human Services formalizing the regulations. The IRS, Labor and DHHS said, among other things, that the reward can take the form of a premium discount, a premium rebate or a waiver of all or part of such cost-sharing mechanisms and not exceed 20% of the cost of coverage.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2024 ALM Global, LLC. All Rights Reserved.