New Benefits Offering Helps Employers Engage and Motivate their Employees to Select High-Value Health Care
SAN FRANCISCO — July 10, 2013 — Castlight Health today announced Castlight Rewards, a new offering that helps people engage in smart health care management. A new addition to Castlight’s health care management suite, Castlight Rewards allows employers to direct employees to better quality, affordable care by offering an incentive for choosing the highest value providers and services.
A study by Fidelity Investments and the National Business Group on Health found that incentive-based programs are on the rise across organizations of all sizes, with employers planning to double their spending on incentive programs in 2013. Employers can seamlessly integrate Castlight Rewards with their existing benefits programs, and provide incentives for employees to make health care decisions based on both cost and quality.
“Delivering health care transparency is a key first step in creating an engaged and informed health care consumer, but for some employees, having the information at hand isn’t enough —they need more obvious incentives to take charge of their care,” said Naomi Allen, Vice President of Products, Castlight Health. “With Castlight Rewards, we’re giving employers yet another impactful way to motivate their employees to more closely engage in their care, in order to make more informed decisions that will lead to better outcomes.”
Housed within Castlight Health’s health care transparency suite, the Rewards offering clearly designates health care options the employer has deemed to be high value. After seeing Rewards providers for specific services, employees then accrue points that can be redeemed for rewards in the “currency” of the employer’s choice. Rewards may be any variety of incentives – for example, payroll contributions, gift cards, or raffle tickets. Encouraging visits to high-value providers is just the beginning. Employers can also issue points for participating in health and wellness programs, choosing an on-site clinic, or transitioning to a more cost-effective benefits package.
“The objective of Kraft’s benefits program is to have a true partnership with our employees and families that drives optimal health, maximum productivity and sustainable health care cost management,” said Kathy McAlpine, Senior Director, Benefits at Kraft Foods. “We’re committed to providing our employees with affordable and accessible health care. Castlight Health is an important part of that partnership because it allows employees to choose the most cost effective and best quality care. With Castlight Rewards, we get a win-win for all – employees have an easy way to be rewarded for making good choices, and Kraft can feel confident that our employees are getting the best, most cost-efficient care.”
For additional information on Castlight Rewards, please visit http://www.castlighthealth.com/solutions/rewards
About Castlight Health
Castlight Health enables employers, their employees, and health plans to take control of health care costs and improve care. Named #1 on The Wall Street Journal’s list of “The Top 50 Venture-Backed Companies” for 2011 and one of Dow Jones’ 50 Most Investment-Worthy Technology Start-Ups, Castlight Health helps the country’s self-insured employers and health plans empower consumers to shop for health care. Castlight Health is headquartered in San Francisco and backed by prominent investors including Allen & Company, Cleveland Clinic, Maverick Capital, Morgan Stanley Investment Management, Oak Investment Partners, Redmile Group, T. Rowe Price, U.S. Venture Partners, Venrock, Wellcome Trust and two unnamed mutual funds. For more information, please visit our web site at http://www.castlighthealth.com or call (415) 829-1400.
Blanc & Otus for Castlight Health