If you have some money to invest in your efforts, you can earn money for giving up donuts.
If you’re like many Americans, losing a few pounds is probably at the top of your list of wellness or fitness objectives. Earning some extra cash could be beneficial as well. Wouldn’t it be fantastic if you could accomplish both of these objectives at the same time?
HealthyWage gives you the opportunity to do just that. You’ve probably seen their social media ads, articles, and videos all over the internet, or heard about their thousands of success stories. Although it may appear to be too good to be true, this company actually pays people to lose weight. However, the story is more complicated than simply signing up, working out, and collecting cash.
In this HealthyWage review, you’ll learn how HealthyWage works, how you can benefit from using it, and what you should know before deciding whether or not to give it a shot.
SUMMERY
You could be compensated for reaching your weight-loss goal.
- It adds fun and accountability to other diet plans.
- According to research, financial incentives can help people lose weight.
- If you meet your goal, you could win up to $10,000.
Is HealthyWage a genuine company?
Yes, HealthyWage is a legitimate company — and they make that clear on their website. Given that earning money for losing weight appears to be a “too-good-to-be-true” scam, HealthyWage is confronting that understandable perception with a slew of articles, testimonials, and videos from satisfied customers.
We learned from HealthyWage’s Better Business Bureau file that the company has been in operation since 2009, but the file was only opened in 2018. HealthyWage has not yet been accredited by the BBB. It does, however, have an A from the BBB and 4.78 stars out of 5 from 72 customer reviews.
According to the HealthyWage website, as of January 2020, it had paid out over $1 million to participants who had met their goals, for a total of 2,345,973 pounds lost using their program.
So, what does HealthyWage have to offer? In short, they’re all about encouraging people to lose weight by placing bets on themselves. HealthyWage has created a program in which participants commit to a monthly payment as they complete a weight loss challenge. If you meet or exceed the goal you set at the start of the challenge, you will receive all of the money you “bet” as well as additional winnings.
This idea is based on research from Harvard, the Mayo Clinic, the University of Pennsylvania, and other academic institutions that discovered people are more likely to lose weight and keep it off when there is a financial incentive and they invest their own money in the process. To create its programs, HealthyWage combines this research with the successes of company-based weight loss challenges and the influence of social networks on behavior.
Yes, there is some risk, because HealthyWage has a no-refund policy and will not cancel a challenge once it has begun. This is one of their sources of income. They do, however, make money from private clients in the corporate and government sectors, as well as administrative fees from certain types of challenges.
Advantages of HealthyWage
- If you meet your weight loss goal, you could win up to $10,000.
- It adds fun and accountability to other diet plans.
- According to academic research, financial incentives can help people lose weight.
How does HealthyWage operate?
HealthyWage offers a variety of challenges in which you can participate. For each, you agree to pay a certain amount of money, set a weight loss goal and timeframe, and then begin the challenge. If you meet or exceed that goal by the end of the challenge, you win the amount promised at the start, or, in the case of a team, jackpot, or step challenge, a pot of money is divided among all the winners. Here’s a closer look at each challenge type.
The HealthyWager
If you meet your weight loss goal, you can win up to $10,000 in prize money in this individual challenge. Begin by using the Prize Calculator tool. This will allow you to experiment with different parameters (loss amount, timeframe, monthly payment amount) to see how much money you could win. They usually give you a range that starts a little higher than the total amount you want to bet and goes up to several times that amount.
You can pay for your challenge with a debit or credit card, and you can pay your entire wager at once or in monthly installments. You will also select your weight loss goal and time frame. (You can also literally buy more time later if necessary.)
Following your decision on the terms, you proceed to the second step, which requests more specific information, such as your age, gender, current weight, and so on. Based on the information you provide, the algorithm calculates the final amount you will receive if you meet your weight loss goal, as well as your return on investment. When you’re ready to proceed, click “Make My Bet” and follow the on-screen instructions.
To begin your challenge, you must provide a video weigh-in, which you can do in the mobile app or by uploading a video to the website. You’ll have to repeat this process at the end of the challenge. This is to ensure that your starting and ending body weights are correct. There are no other check-ins, but you are encouraged to use the social tools and education provided by the program.
When you reach your goal, you receive HW Points, which are worth $1 each. You can request that these be cashed in and the funds be sent to you via PayPal or check. These points will expire after 12 months of inactivity, so make sure to cash them in as soon as possible.
The $10,000 Team Competition
You can sign up with a team of five or request to be placed in a team of random people for this type of challenge. The challenge lasts three months, and there is a monthly registration fee of $25 if you participate through a company or $33 if you enter on your own.
The team that loses the greatest percentage of weight at the final weigh-in is the winner, and the top three teams share a total of $18,000 in cash prizes (in the form of HW Points). Team members who lose 10% of their starting weight within 6 months of the challenge’s conclusion may apply to have their entry fee refunded.
Jackpot Contests
Consider entering a Jackpot Challenge if you want to lose at least 6% of your total weight. There are a lot of these around at any given time. Everyone who signs up for a Jackpot Challenge is assigned to a team and agrees to contribute a set amount that will be pooled throughout the challenge.
After the challenge, the pot of money is divided evenly among the teams that met the goal in the form of HW Points, after HealthyWage collects a 25% administration fee. If more than 75% of participants achieve their goal, everyone who succeeds will at the very least get their money back.
Step Contests
For its step challenges, HealthyWage typically offers two options. You have the option of completing one million steps in 100 days or 300,000 steps in 30 days, both of which average out to 10,000 steps per day. These, like the Jackpot Challenges, are done in teams where the entry fees are pooled and everyone who reaches the goal gets an equal share of the money in HW Points (minus the 25% administration fee), and if more than 75% are successful, they all get back the money they put into the pool.
There’s also a step challenge for people who want to increase their average daily step count by 25%. Because there are no teams for this one, each participant who meets the goal receives an equal share of the money pool after the administrative fee.
You connect your Fitbit or smartphone to the HealthyWage app for this challenge so that your data is fed directly into the program. The same guarantee that you will at least get back your investment if you reach your goal applies here.
Create Your Own Weight Loss Program
This is for small businesses, families, communities, and other organizations that want to organize a fitness challenge to help them get in shape. The program is similar to the Jackpot Challenges in that you pay an entry fee and the goal is to lose 6% of your starting weight over the course of 12 weeks. People can enter as teams or individuals, and the pot is divided equally among all winners — less the administrative fee.
Custom programs are also available for large organizations such as corporations, schools, governments, hospitals, and others. You may even be able to get a free registration through your employer’s referral.
Who is HealthyWage appropriate for?
HealthyWage challenges are ideal for people who are serious about losing weight and have some money to invest. HealthyWage is also beneficial for people who enjoy competition and find that having money at stake motivates them. This program is not for you if you are not goal-oriented or competitive.
However, if you’ve struggled with dieting or weight gain and haven’t found other weight loss programs motivating, you might want to give HealthyWage a shot.
Finally, if you’ve already begun a weight-loss journey and have a specific plan in place that is producing results, the HealthyWage program can help keep you on track and reward you with some motivating cash once you reach your goal. In terms of earning money, this one may complement your existing wellness or fitness plan.
How much money can you make using HealthyWage?
The most money you can win from any one challenge is $10,000. Although team challenges have larger prize pools, the most any one person can win at the end of the challenge is $10,000. You can take part in up to ten challenges at once, which can multiply your winnings if you meet their objectives.
How much this all costs depends on how much you choose to wager for each challenge, how much you set your goal for, how long the challenge lasts, and how many people participate in the case of one where you split winnings from a collective pot of money.
Jennifer D., for example. Glenn S. lost 102 pounds in 10 months and won $4,181, whereas I lost the same amount in the same amount of time and came away with $1,383. The difference in earnings is that Jennifer wagered $150 per month, whereas Glenn wagered $40 per month on weight loss. According to HealthyWage, the average prize for those who complete their goals is $1,331.
If you reach your goal, you have the option of receiving payment via PayPal or check. If you choose PayPal, you will receive your money within two to five business days of requesting a payout, and PayPal will deduct 2.9% of your winnings plus $.30 as a fee. If you opt for a check, you should receive it within one to three weeks of requesting a payout. Sending checks costs $7.00 with HealthyWage.
HealthyWage can help you increase your earnings.
Stacking challenges is an excellent way to increase your earnings. You can participate in up to ten challenges at once with HealthyWage (with some restrictions). So, if you start with a HealthyWager challenge and a goal of losing at least 6% of your starting weight, you can then sign up for a Jackpot, Team, or step challenge. The work you put in to earn your HealthyWager prize can also help you win the other challenges.
Another way to increase your earnings is to refer friends and family. You will receive an additional $40 for each person who signs up.
HealthyWage FAQ’s
How does HealthyWage generate revenue?
Healthywage earns money from fees from failed challenges, administrative fees from some challenges, and custom programs they create for corporate and government clients.
How does HealthyWage determine body weight?
Healthywage requests that you submit a video via their app or website.
Does HealthyWage actually pay?
Yes. Healthywage has paid out over $1 million to people who have met their weight loss goal, and their leaderboard is constantly being updated with new payouts.
Can I Cancel HealthyWage?
No. Healthywage does not accept cancellations or refunds. If you become pregnant while participating in a challenge, your participation will be halted until you are medically cleared to resume.
How to Begin with HealthyWage?
It is very simple to get started. You can start your registration and prize calculation by downloading the HealthyWage app to your Android or iOS smartphone. You can also sign up at HealthyWage.com. The amount you pay is entirely up to you, depending on the challenges you want to take part in and the requirements.