Coventry Fund + Wellness Rewards
Coventry Fund + Wellness Rewards is a two-part, multi-year incentive program that engages members in healthy activities. Coventry Fund is simply a "built-in" deductible reimbursement account that we fund at the beginning of each plan year. The fund is used to reimburse a portion of in-network deductible expenses after the member pays his or her up-front deductible. The unused funds roll over and can accumulate up to two times the funding level.
The second part of this innovative plan design is the Wellness Rewards. A complement to Coventry Fund, Wellness Rewards gives members reward dollars for completing the online health risk assessment (HRA) and online digital coaching programs. Since the reward dollars are earned based on healthy behaviors and can be used as soon as the account is credited, members receive a first-dollar benefit to help offset the up-front deductible responsibility. This innovative approach lowers member deductible exposure and provides incentives for healthy choices that can help change behavior.
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Coventry Health Care is a registered trade name of Carelink Health Plans. Inc. (Carelink), a West Virginia HMO. PPO products are underwritten by Coventry Health and Life Insurance Company and administered by Carelink Health Plans, Inc. in West Virginia.
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