Vanguard Offers Workers $1K Bonus For Vaccination – InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Life Insurance
    • Annuity News
    • Health/Employee Benefits
    • Property and Casualty
    • Advisor News
    • Washington Wire
    • Regulation News
    • Sponsored Content
    • Webinars
    • Monthly Focus
  • INN Exclusives
  • NewsWires
  • Magazine
  • Free Newsletters
Sign in or register to be an INNsider.
  • INN Exclusives
  • NewsWires
  • Magazine
  • Free Newsletters
  • Insider
  • About
  • Advertise
  • Editorial Staff
  • Contact
  • Newsletters

Get Social

  • Facebook
  • Twitter
  • LinkedIn
Advisor News
Newswires RSS Get our newsletter
Order Prints
August 5, 2021 Newswires No comments
Share
Share
Tweet
Email

Vanguard Offers Workers $1K Bonus For Vaccination

Philadelphia Inquirer (PA)

Aug. 5—Some bosses are hoping that cold, hard cash may convince holdouts to get a COVID-19 vaccine.

On Wednesday, Vanguard became the latest American employer to offer a $1,000 bonus to employees who get vaccinated.

Coronavirus Coverage

PANDEMIC TIPS

"We are offering a vaccine incentive for crew who provide COVID-19 vaccination proof. The incentive recognizes crew who have taken the time to protect themselves, each other, and our communities by being vaccinated," said spokesman Charles Kurtz. Employees will have until Oct. 1 to get vaccinated.

The Malvern-based investment giant follows companies such as Kroger, Walmart and JBS and cities in New York, Louisiana and California, which offered bonuses, prizes and even scholarships to vaccine recipients.

And there's research to back up using economics to nudge behavior.

Delta variant's outdoor transmission is still unclear. Here's how Philly experts are thinking about COVID-19 risk.

Wharton and Penn's Behavior Change for Good (BCFG) initiative this year released findings from two research studies aimed at increasing vaccine adoption.

In one study with Walmart, Wharton and Penn tested which reminder messages encouraged Walmart's 700,000 pharmacy patients to come in and get a flu vaccine.

The researchers found that simple text message reminders that a flu shot was "waiting" or "reserved" boosted vaccine rates by up to 11%. The "waiting for you" messages were sent to patients 72 hours and 24 hours before their vaccine appointment.

In another study with two health systems (Penn Medicine and Geisinger), Wharton researchers also found text messages that a flu shot was "waiting" or "reserved" proved effective.

The results can be adapted to encourage COVID-19 vaccinations, according to Wharton professor Katy Milkman, author of the new book How to Change.

"While the vaccines are different, we face the same behavioral challenges in encouraging uptake of the flu and COVID-19 vaccinations. Rather than convincing the skeptics, we focused on encouraging people who want the vaccine to actually receive it," said Milkman, BCFG co-director and lead author on both studies, in a statement.

These are the Philadelphia restaurants that require proof of vaccination

Among those sitting on the fence is Peter Gold, Philadelphia-based vice chair of the Global Interdependence Center. "Yes, incentives do work. But these should be coupled with other COVID-related benefits," Gold said. He said he believes in benefits such as free testing, free transportation to vaccination and testing sites, contact tracing programs, and check-ups months after vaccinations.

Other companies are now putting workers' jobs on the line.

The nation's largest nursing home operator told workers this week that COVID-19 vaccinations are compulsory if they want to keep their jobs. Genesis Healthcare, headquartered in Kennett Square, gives employees until Aug. 23 to get their first shot.

"To succeed against the delta variant is going to require much higher vaccination rates," said chief medical officer Richard Feifer. "Our tactics in the fight have to change."

The mandate at Genesis Healthcare, which has 70,000 employees at nearly 400 nursing homes and senior communities, is similar to by New Jersey Gov. Phil Murphy's announcement that all workers in elder-care and nursing-home settings must be vaccinated by Sept. 7.

It's legal for companies to mandate vaccines, with three caveats, said Amy Traub, chair of the BakerHostetler law firm's labor and employment practice.

The first is a medical exemption, say, an allergy or contraindication to components of the vaccine; second, religious beliefs or observances; and third, city or state law regarding pregnancy or other related medical conditions.

Nationally, 16% of companies are now mandating COVID-19 vaccines for current employees, up from 15% in February; 14% of employers mandate vaccines for new hires only, according to a July survey by the Blank Rome law firm.

___

(c)2021 The Philadelphia Inquirer

Visit The Philadelphia Inquirer at www.inquirer.com

Distributed by Tribune Content Agency, LLC.

Older

Calif. Gov. Newsom, U.S. Agriculture Secretary Vilsack and Forest Service Chief Moore Discuss State-Federal Efforts to Build Wildfire Resilience

Newer

Ky. Gov. Beshear Announces Multiagency Recovery Center to Support Nicholas County Residents Affected by Historic Flooding

Advisor News

  • What Rising Prices Could Mean For Your Clients’ Retirement Plans
  • 38% Of Investors Pulled Money From Stock Market In The Past Year
  • Financial Focus: Retirement Money Management
  • Americans Spread Their Money Across More Firms, Survey Finds
  • Now Is A Good Time To Buy This Inflation Savings Bond
More Advisor News

Annuity News

  • LibertyMark Freedom Fixed Indexed Annuities Launch
  • Nationwide Adds BNP Paribas Global H-Factor Index To FIA
  • Transamerica Launches Structured Index Advantage Annuity
  • Recommending FIAs: Start With The Client’s Objective
  • NC Man Wins First $5 Million Prize In Scratch-Off Game
Sponsor
More Annuity News

Health/Employee Benefits News

  • AHIP’s Policy Roadmap Aimed At Increasing Health Care Access, Affordability
  • Don’t Fall For Joe Namath’s Ads
  • Health Insurance Can Now Help Some Californians Find Housing
  • $2.7B Settlement In CalPERS Long-Term Care Insurance Lawsuit Is Canceled
  • Virginia Poised To Review Eligibility Of 2 Million In Medicaid ‘Safe Haven’
More Health/Employee Benefits News

Life Insurance

  • The 5 Secrets To Retaining Financial Sales Professionals
  • Life Insurance Activity Continues Dip In April But Still Stronger Than 2021, MIB Reports
  • Transamerica Adds Execs To Annuity And Life Insurance Team
  • Northwestern Mutual Invests $5M In Black-Led Financial Institutions
  • Protective Life Closes On AUL Acquisition
More Life Insurance

- Presented By -

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

FEATURED OFFERS

Get Linked INN to your industry Connect with INN on LinkedIn to be first on all the news and insights that matter to your industry.

Press ReleasesAll press releases

  • OneAmerica Commits $1 Million Toward Financial Literacy
  • Transamerica Structured Index Advantage Annuity Offers Investors More Certainty with Upside Growth and Downside Protection
  • Senior Market Sales Creates First-of-Its-Kind Lead Acquisition Platform
  • Growing financial services firm Kuvare opens Des Moines office in East Village, continuing expansion in Iowa
  • BetterLife Selects iPipeline® to Digitally Transform Its Business & Better Serve Future Generations
Add your Press Release >

Topics

  • Life Insurance
  • Annuity News
  • Health/Employee Benefits
  • Property and Casualty
  • Advisor News
  • Washington Wire
  • Regulation News
  • Sponsored Content
  • Webinars
  • Monthly Focus

Top Sections

  • Life Insurance
  • Annuity News
  • Health/Employee Benefits News
  • Property and Casualty News
  • AdvisorNews
  • Washington Wire
  • Insurance Webinars

Our Company

  • About
  • Editorial Staff
  • Magazine
  • Write for INN
  • Advertise
  • Contact

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2022 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • Sitemap
  • AdvisorNews

Sign in with your INNsider Account

Not registered? Become an INNsider.