A proprietary program that delivers wellness results, provides earned employee benefits and creates employer tax savings all at no-net cost to employees or employers.
We offer an interactive wellness program which combines the benefits of a limited medical wellness plan that covers wellness services and activities, along with an indemnity plan that rewards employees for participating. This participation allows employees to receive "flex credits" which pay for the qualified ancillary benefits of their choice. This means no net cost to your company and no change to your employee's paycheck.
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Earned benefits and services of their choice with no change to take-home pay as long as they meet quarterly activity commitments. Benefits include:
The Wellness Program ("Program") is your company sponsored, ERISA qualified group health and wellness plan. This means that the premiums are paid for on a pre-‐tax basis, as it relates to the Limited Medical and Wellness Plan, and on a post-‐tax basis for the Indemnity Plan.
Flex credits are, in short, employer dollars that are provided to individuals to spend on qualified benefits. Based on employee participation in the wellness program, employees will receive an allotment of flex credits to purchase ancillary benefits. The allocation of flex credits to be spent on ancillary benefits is made at the time of enrollment.
Employees voluntarily elect to participate in the Program and affirm that that they have major medical coverage. Upon such election, employee will complete a health risk assessment at the time of enrollment, after which employees are required to participate in at least one wellness activity per quarter in order to remain compliant with the wellness program. For purposes of the indemnity plan, employees will need to file a claim by either having a consultation with a healthcare professional or physician, or utilize such other benefits as provided under the indemnity plan. Some of the covered services under the indemnity plan will be automatically communicated to Inspired or the employer for purposes of claims, so there may not be any action required on employee part for purposes of submitting a claim.
Less than 1% of employees do not comply, so you shouldn’t worry too much about this. However, the employee will not receive an allocation of flex credits. As such, and given this is pursuant to Section 125, if employee does not earn an allocation of flex credits, then any qualified ancillary premium amount will be deducted from their pay- which would mean the paycheck is less. The same is true on the Indemnity plan.
You have a couple options you can add additional products to your offering OR you can stop your program and let your employees have similar plans who will now benefit from these plans without any change to their take home pay.
Your employee may see additional line items on their paycheck, which may include the following: 1) limited medical and wellness plan, which is a pre-‐tax deduction, 2) indemnity plan, which is a post-‐tax deduction, 3) indemnity claim payment, which is a post-‐tax line item on your paystub, and 4) line item deductions for the additional insurance products purchased with the use of flex credits, as applicable.
No, these plans are not part of the inspired wellness program offering therefore will not be affected.