The Department of the Treasury and the Internal Revenue Service released new guidance that is “designed to expand the use of income annuities in 401(k) plans.”
Aetna announced the launch of the Aetna Fitness Reimbursement Program.
According to a release, the program allows Aetna members to get money back for a range of activities that can help them lead healthier lives, including:
-Gym membership fees and group exercise classes
-Fitness equipment purchases
-Weight management and nutrition counseling services
The program was jointly designed with GlobalFit, a provider of physical activity programs for businesses around the world. Aetna noted it is the only national health insurer to work with GlobalFit on a reimbursement program of this magnitude. The program will begin on January 1, 2013 and is currently being offered to Aetna's employer customers in National Accounts, Middle Markets and Public & Labor. Members will only be eligible for the program if their employer chooses to implement the Aetna Fitness Reimbursement Program.
"We know it is hard to stay healthy. The Aetna Fitness Reimbursement Program makes it easier for members to do the things that can help them be as healthy as possible," said Susan Kosman, R.N., Aetna's chief nursing officer. "Providing members with money back through this program helps address the financial challenge that people often face when they are trying to improve their health."
The Aetna Fitness Reimbursement Program enables members to choose the approach to getting and staying healthy that best fits their lifestyle. Members will be reimbursed for different health and fitness purchases through the program and members can also save more money through a separate Aetna Fitness discount program. For more than a decade, Aetna members have benefited from savings on gym memberships and name-brand at-home fitness and nutrition products through GlobalFit's Gym Network.
To help simplify this program for employers, the companies said that GlobalFit will handle all of the administrative tasks associated with reimbursing participants.
"Offering this program is a tangible way that employers can show their employees that they are committed to their well-being," Kosman said. "As part of a comprehensive wellness strategy, this program can help employers lower their health care costs and create a more productive and engaged workforce."
"GlobalFit creates every program with the employee at the center, and Aetna shares this value. Together we have designed a program that gives employees what they want - a streamlined user experience and to be recognized and rewarded for a more active lifestyle. The Aetna Fitness Reimbursement Program further demonstrates the passionate commitment both companies have to creating a healthier world one employee at a time," said Matthew Laffer, GlobalFit's Vice President of Strategic Partnerships.
The Aetna Fitness Reimbursement Program is part of Aetna's overall wellness strategy for employers.
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