Learn how plans partner with First Dollar to offer first-class rewards programs.
Health rewards programs encourage desired member behavior by giving a financial incentive to achieve health goals. For example, one health rewards program could provide a member with $30 in general funds for receiving their annual flu shot, and another could distribute $30 for healthy groceries if a member attends their yearly checkup.
A first-rate rewards program has two primary benefits:
Health rewards programs are a rare win-win situation! Unfortunately, most existing solutions have failed to deliver on this promise.
Most health rewards programs are built on a poor foundation of antiquated payments and benefits tech, hindering administrators' ability to design innovative benefits and members' ability to access them. Here are some causes and symptoms that we see today.
When built correctly, we believe in the promise of rewards programs. That’s why we’ve built our Health Rewards with fintech solutions to solve the problems of legacy solutions.
“The Health Rewards benefit adds to First Dollar’s legacy of helping people pay for and maintain healthy lives, and enables enterprise customers to differentiate themselves in a crowded market where they can customize the benefit to meet specific customer needs, not network limitations.”- Orion Severhill, Senior Product Manager at First Dollar.
Let's look at how First Dollar Health Rewards is built to help plans and their members.
We built our Health Rewards benefit on an open-loop card network where the payment network is not limited to a handful of retail merchants. Supporting more than 42,000 merchants, from grocery stores to independent pharmacies, the open-loop network is broader and more accessible to members in both urban and rural communities. And because there is no direct integration requirement, your rewards program and member experience are stable from contractual changes other vendors must maintain.
First Dollar’s Health Rewards unlocks admins' ability to make insight-driven decisions by giving direct access to retail data. Our API-first platform offers full transaction reporting and dashboards so admins can leverage retail data to personalize the member experience.
Our Health Rewards solution offers plans and their members an embeddable, complete solution. First Dollar's Health Rewards is:
These abilities create the possibility of a truly seamless experience for members (one card, one benefit) and the ability for plans to design innovative benefits.
The promise of health rewards programs is one that helps plans save on health care costs and helps members be happier and healthier. That's why we're so excited to share our Health Rewards with the world!