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Health Screening Incentives

manatfinishline32151143.jpgAs the cost of health insurance is on the rise for both employers and employees, you may be wondering how you can cut back on costs to save your bottom line. One incentive health insurance companies are offering is discounts on your group healthcare plan for employees who get a health screening and pass certain health markers.

How it Works

A health screening is a series of tests to assess your health. The tests you have to take will depend on what the insurance company is most concerned with and what they are offering incentives for. Some of the more common tests are height and weight, body fat percentage, body mass index, bone density, cholesterol levels, heart rate, blood pressure, and diabetes screening. Testing can be done through the insurance company or through your primary care physician. Results are only seen by you and your insurance company, who have your medical history anyway. You employer is given a number that tells them how many incentives, discounts, or breaks you qualify for and you and your employer save.

Some of the more common markers insurance companies are looking for are completion of the health screening, that you are a non-smoker/tobacco user, blood pressure below 135/87, a body mass index between 19 and 30, and cholesterol levels of less than 150 mg/dL. These are the common markers now, but as health screening incentives gain popularity, insurance providers will make the markers more stringent to come in line with NIH standards.

Why it Works

Health screenings work to your advantage because insurance providers want healthier people to cover. The healthier the people are they cover the fewer claims they have to pay out and the bigger profit they make. It works for you and your employees because there really are some nice discounts, incentives and breaks offered by insurance providers for those who live a healthy lifestyle. For example, if you are currently paying $350 in insurance premiums every month (average cost of health insurance premiums for a family of four), you can expect at least a 6% increase in the cost of your premium next year, giving you a total of around $370 per month next year. However, your insurance company is giving a $10 incentive for each of the health markers you meet for a total (if you meet all of them) of $50 in incentives off of next year's premiums. If you meet all of the markers, you'll be paying $320 per month in premiums, not only giving you a savings over next years' premiums, but a discount off of this years' too.

Of course, health screenings can only really help you save money if the employees on your group plan are, for the majority, healthy, which means a workplace wellness program should be invested in. Some risk factors that will not be even considered for health insurance discounts are those who are obese, are tobacco users, or that have untreated mental illness.

However, even with the above conditions, some insurance providers will still give you the incentives if you enroll in a program that will help you build a healthy lifestyle. For example, you can get the discount on your insurance even though you smoke if you enroll in a smoking cessation program. The same goes for enrolling in weight loss programs and counseling and treatment for mental illness (i.e. bi-polarity). Health screenings can be one way for you and your employees to save money on health insurance.

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