Incentives For Retirees In Good Shape
If you’re looking to spend your retirement in good shape and health, there are a number of federal health plans that provide you incentives for remaining in good shape both before & after your retirement.
These incentives may be either cash or normal credit, which can be utilized for medical expenses. They may also be used for meeting insurance-related expenses like coinsurance, copayments, or deductibles.
In order to derive maximum benefits from these programs, we recommend that you start early. You can receive sizeable rewards if you maintain your health properly and improve your annual health screening performance.
Here is a brief overview of several Federal Employee Benefits Program plans, which provide wellness incentives to their recipients.
Blue Cross Blue Shield Standard and Basic Options
What you have to do
• Undergo a complete health assessment
• Complete 3 online health goals in areas like emotional health, stress, exercise, weight management, and nutrition.
Your Rewards and How They Can Be Used
• You get $50 once you finish the health assessment
• You are eligible for another $120 if you complete specific goals
• Your rewards can be redeemed with the help of wellness cards for paying qualified medical health expenses
What You Must Know
• All these goals need to be finished by the end of the year
• You have to be above 18 years of age.
• You should either be the contract holder or their spouse for earning these rewards.
GEHA HDHP, Standard and High
What you have to do
• Register yourself at GEHA’s HealthBalance wellness portal to start earning reward points for achieving your health goals
Your Rewards and How They Can Be Used
• A $75 prepaid Mastercard after you finish your annual health assessment
• A $75 reward after you finish your annual biometric screening
• Activities and health classes like tracking fitness, smoking cessation, stress management, and weight management offer $100 worth of reward points
• The qualified medical expenses also include medical costs & health-related expenses
What You Must Know
• 2 family members aged 18 or above can collectively earn around $250 in health reward points, which can be used for paying off medical expenses.
GEHA Elevate and Elevate Plus
What you have to do
• $100 for completing a regular health survey
• $150 for keeping your 1st-trimester prenatal appointment
• $100 for completing your annual physical
• $50 for completing a doctor visit online via MDLIVE
• $150 for completing an online rally coaching program
• $50 for getting a flu shot administered
• $250 for enrolling in a weight management program
• $50 for cervical cancer checkup
• $250 for enrolling in a smoking cessation program
• $50 for a breast cancer checkup
• $10 a month for meeting step goal
• $50 for getting a colorectal cancer checkup
Your Rewards and How They Can Be Used
• Your A/C balance is rolled over from one year to the next. Each person can earn $500 every year or $1000 for 2 eligible members in the family. The maximum balance allowed is $2500 or $5000 respectively.
• These funds may be utilized for paying medical expenses like vision, dental, medical, and vision expenses.
What You Must Know
• Transactions are verified automatically. However, you’ll have to submit other receipts for verifying that you made the transaction for an eligible medical service or expense
• Your card can be utilized at healthcare providers to pay for eligible medical services and at pharmacies and stores that utilize an IIAS checkout system, which verifies whether items are qualified medical expenses or not.
NALC Value and Consumer-Driven Options
What you have to do
• Finish a regular health assessment
Your Rewards and How They Can Be Used
• You will be eligible for a dental program at discounted rates. All premiums for the calendar year’s remaining period will be paid off.
What You Must Know
• While these plans provide immense wellness benefits, no cash rewards are included in this plan.
MHBP Standard and Value Options
What you have to do
• Finish a comprehensive health assessment & biometric screening test. You should also take prescribed actions for earning rewards.
Your Rewards and How They Can Be Used
• A credit of $75 for the Standard Option or $50 for the Value Option into your wellness fund.
What You Must Know
• In case you’ve never registered before, you have to start an account for every family member above 18.
• The Consumer Option provides an incentive program for diabetics as well. It offers a credit of $75 towards your deductible for the calendar year.
DID YOU KNOW that The Benefit Coordinator offers Federal Employee Disability Insurance?
