InteliSpend Prepaid Solutions recently announced the January 2011 offering of the new MasterCard® Wellness Prepaid Card. InteliSpend’s vision of the card is to help companies motivate employee participation in corporate wellness programs as recent surveys have shown more workers will take part when an incentive is offered.
Although the definition of “wellness” varies, according to several health and medical websites, physical activity is repeatedly noted as a positive factor contributing to a person’s overall well being. Increased physical activity can reduce the risk of heart disease, diabetes and stroke, as well as combat the growing obesity problem. In the fourth quarter of 2009, Harris Interactive and MasterCard conducted a survey of employee participation in corporate wellness programs. According to the survey, almost 80% of those asked worked at a company offering some form of wellness program. When wellness program incentives were offered, 61 percent of employees chose to participate in the program compared to only 26 percent who worked for non-incenting companies. About half of the employees surveyed stated that they would participate in a wellness program if offered by the employer. According to InteliSpend, their new Wellness Prepaid MasterCard® offers companies a turnkey solution to help maximize participation within corporate wellness programs.
Darryl Hutson, InteliSpend chief executive officer stated:
“As healthcare costs continue to rise, the wellness market is poised for significant future growth. We are pleased to work with MasterCard and bring to market the MasterCard® Wellness Prepaid Card, which is designed to invigorate employee participation in wellness initiatives.”
Ron Hynes, Global Head, Global Prepaid Products Development Solutions, MasterCard Worldwide added:
“Many employers have turned to wellness programs to improve the health and productivity of their employees and their families. We know through our research that providing incentives through a reloadable prepaid card is one of the most effective ways to encourage employees to sign up and stick with these programs. At MasterCard, we are focused on working with leading companies like InteliSpend to enable employers to create sustainable, effective programs that encourage employees to participate and empower them to more easily address their increased out of pocket healthcare expenses.”
InteliSpend’s Vice President of Strategic Partnerships Sheree Stewart also said:
“We view the MasterCard wellness solution as a springboard for the future. Working with MasterCard speaks to our strategy of bringing truly intelligent solutions to our clients and we look forward to future opportunities for growth.”
As we continue to battle the challenges of maintaining good health, employer offered incentives like the InteliSpend wellness card seems to be a step in the right direction. Employees just need to take advantage of it.