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Health care costs and insurance premiums are out of control. It’s yet to be seen if the Affordable Care Act will help to rein in costs, but many employers are now looking to wellness programs to help reduce insurance premiums, worker absenteeism and overall productivity in the workplace.

How Do They Work?

Employers may offer a reward for participation in a wellness program if the reward is not conditioned on an individual’s satisfying a standard relation to a health status factor. An example is that an employer can make a greater contribution to employee’s insurance premiums if they participate in a weekly fitness program, but they may not implement the same policy for all employees who can lose 10 pounds. There is no limit to the value of the reward. Types of rewards include a premium discount, rebate on premium or contribution, waiver of a cost-sharing obligation and other benefits.

What  Are The Options?

In addition to fitness programs, other wellness programs include health insurance education, health screening programs, smoking cessation programs and on-site vaccinations. Employers interested in establishing a wellness program should consult with their benefit managers on a case-by-case basis to construct a program that will bring the greatest savings and health enhancements to their workplace.

Learn More At Our Upcoming Seminar

Kolinsky Wealth Management is teaming up with AxisPointe and Paylocity to host a seminar providing the latest information, updates and strategies relating to the Patient Protection and Affordable Care Act (PPACA). This exclusive seminar, set for Tuesday October 29 at 8:30 a.m. at the Saddle Brook Marriott, is designed for CPAs, CFOs, Accountants and HR professionals and has been approved for 2 CPE credits by the New Jersey Board of Accountancy and New York State Board for Public Accountants. For more information or to request an invitation, please contact Connie Poveromo at or 201-474-4011.

About Jason M. Kolinsky, CFP®

Jason Kolinsky is an Investment Advisor Representative with Kolinsky Wealth Management, LLC, an SEC Registered Investment Advisor, and Life and Health Insurance Producer for Kolinsky Financial Group, Inc. He joined the firm in 2007 and is a Registered Representative with American Portfolios Financial Services, Inc. Member FINRA/SIPC. Kolinsky Wealth Management and American Portfolios Financial Services are not affiliated. Jason obtained his Certified Financial Planner certification in 2012.