How Much Money Would You Need to Lose Weight?

Earning money for losing weight isn't the newest idea on the block. After all, how many people tune in to "The Biggest Loser" each week?

However, the concept is making the leap from game shows and contests (like the recent HealthyWage contest) to the workplace, with more employers offering workers cash for exercise and weight loss, the Associated Press reports. And people are signing up -- there's no doubt about it. What's less clear is whether this tactic is actually effective.

The payments made by employers can certainly benefit them -- with the obesity epidemic spiraling out of control (and taking health care and insurance costs with it), it makes sense for companies to invest in their employees' health. But how much should they pay? What's the magic amount that makes eating well and exercising worthwhile?

Hospital chain OhioHealth is offering a maximum of $500 a year, which employees can earn by tracking their steps with pedometers, Associated Press reports. Some companies reward employees for taking small steps, like signing up for a class, and others require real results before they pay out.

While many experts, like Yale University's Kelly Brownell, believe the entire concept is a waste of time, others feel it has merit if done properly. Namely, the stakes need to be raised. According to the AP, psychologists believe that the risk of losing money is a greater motivator than winning someone else's money, and several studies back up this train of thought. Both a Cornell study and University of Pennsylvania study showed greater weight loss when employees put their own money into a refundable bond that would only pay back if they lost a certain amount of weight by a certain date.

It seems to us the big question is this -- if being healthy and living longer isn't enough motivation, is any one-time payment going to be enough to keep someone with unhealthy habits on track after the payout?

Worker bees like us aren't the only ones faced with the possibility of payment for weight loss. Guess which diet doctor offered up $50,000 to a woman to lose weight!