There’s something about a great benefits package that attracts people towards a company. That is something that Navy & Sage Benefits helps create for our clients. We understand that different people require different things and that’s where an inclusive benefits package comes into play.
Wellness accounts are a huge component of packages nowadays. It allows employees to spend money on things that matter to them.
In this article, we’ll chat through different categories being added by insurance carriers and some examples.
What is a wellness account?
A wellness account is a taxable account that allows employees to manage their own physical and mental health. Employees are reimbursed for certain wellness expenses up to a certain amount every year that is set by the employer.
Five new categories.
| Eco-responsible solutions Eco responsibility has become very important to people. This category helps meet the needs of those who are prioritizing protecting the environment. Some examples of this category include ways and items that help reduce ecological footprints. This includes solar and wind energy products, washable and reusable personal hygiene products and composting material. Indigenous health services The second new category is Indigenous health services. This includes traditional Indigenous healers and elders, traditional medicines and supplies for Indigenous ceremonies and rituals including sweat lodges, healing circles, smudging kits, etc. Alternative medicines If you have employees who question if alternative medicines are included within their benefits package, now you can say yes! This is for people who would like to choose therapeutic practices such as ayurvedic medicine, hypnotherapy, electromagnetic therapy, reiki and tai-chi. Parenting, fertility, adoption and surrogacy Parents and those who wish to be parents make up a large majority of the workforce. Because of that, insurance lenders are now including categories that serve these individuals. This can include fertility drugs and treatments, doula services, prenatal classes, baby safety equipment and even family coaching. Safety initiatives The final new category is surrounding safety initiatives. These offerings will help your employees feel safer in their home and in their workplace. These products and services include home security systems, cameras, remote monitoring, fraud prevention and credit monitoring systems. |
What other categories are there?
After reading about these new categories, you may be curious to what other wellness categories there are. Each carrier has different options, but here are some that are popular within companies and employees:
- Fitness and sports services and equipment
- Health-related expenses and programs
- Personal and professional development
- Home office and technology
- Work-life balance
- Professional services
- Insurance premiums
- Transportation
- Leisure and lifestyle
Reach out to start your wellness account.
Now that you have an understanding of wellness accounts and the categories within them, reach out to Navy & Sage Benefits to create your company’s own account. We can work together to create a customized version that works for you and your employees.
Contact us through our website or give us a call today. We look forward to helping your employees become the best versions of themselves through wellness.
