HOME » NEWS » ARTICLES » He put his money where his mouth is… and it is working.
He put his money where his mouth is… and it is working.
Andy Malinoski August 14, 2006 — 1,669 views
He reads everything. He devours facts and figures. He runs ROIs on his expenditures. He is immersed in his local health care community.
When it comes to health care, he has put his money where his mouth is.
He doesn’t complain about his employees not changing their behavior – he pays them to.
He provides $1,000 per year in a Flexible Spending Account just for participation in a health screen and a serious effort at improving their health.
Keep in mind, there is an on site nurse at the plant - every day.
Make sure you understand, he holds healthy lunch and learns.
Oh, and next year he is offering individualized health coaching.
If your reaction right now is one of thinking about the expense of this program instead of the benefits to his productivity, future health care savings and retention of his employees – you are going to get run over by Health Care Mack Truck in the next year or so.
He has shown time and time again that his investment in his employees health, paired with a financial incentive to participate, has put him on the cutting edge of providing health benefits to his employees.
Next year (January 2007), he is going to provide a Health Reimbursement Arrangement (HRA) in addition to all of the above so that his employees can accumulate dollars in their accounts for future health care expenses.
This manager has shifted his costs to a defined contribution from a defined benefit, provided the financial incentive for behavior change and understanding and is doing the right thing for his employees.
I’m honored he has decided to business with our company and look forward to being a part of the great work he is doing for his company.
Andy Malinoski is Vice President of Marketing and Communications for Vested Health. Joining Vested Health in January 2006, Malinoski is an advocate for consumer-driven plans based on real life experience with health care benefits professionally as an employer and personally as a father of three children. Andy oversees the account management, media relations and educational material development key to providing consumers information about how their health plan works and the benefits available to them through their Vested Health plan.