Financial Wellness Education
Firms plan to increase benefits offerings this year
Business is looking up and firms are looking to increase benefits offerings. In fact, over 90% of businesses plan to increase at least one benefit next year. Small- to medium-sized firms are increasing their focus on “key employee well-being initiatives.” They’re finding these benefits help them cope with pandemic fluctuations and make them more competitive….
Help employees get more value from Health Savings Accounts
With inflation driving the cost of goods and services steadily higher, your employees are looking for opportunities to save on essential expenses. Fortunately for many of these individuals, health savings accounts (HSAs) have become a tool for managing healthcare costs. They allow them to better navigate an environment where they’re being forced to delay care…
Helping employees overcome financial fears
The fastest-growing use of employee assistance programs (EAPs) has been tied to employees’ financial worries.
How COVID-19 changed employee mental health
COVID-19 seriously impacted employee mental health. Many need your help more than ever. Here’s what’s changed – and what HR can do. Mental and behavioral health requests jumped 100% since the onset of the pandemic, according to research from TouchCare. The pandemic apparently hit one generation particularly hard: Gen Z increased its use of mental…
How to implement a student loan benefits program
The government will forgive up to $20,000 in student loan debt for Pell Grant recipients and up to $10,000 for millions of other student loan borrowers. That’s obviously good news for many of the country’s student loan borrowers. What’s less obvious is the opportunity this creates for employers to expand and highlight a student loan…
Improving employees’ financial well-being
Benefits pros are probably tired of hearing about the Great Resignation. After all, you’re doing everything in your power to provide the best benefits package you can to help HR retain and attract employees. But is financial well-being part of these packages? If not, it needs to be. And the reason is simple: Financial issues…
Innovative debt relief benefits: They can help attract, keep workers
Financial worry is a leading cause of workplace stress. Here are 3 great ways Benefit teams can help.
Open enrollment: Financial planners share most asked questions
As an Benefits pros, one of the busiest times of your year is likely open enrollment. You’ve got employees asking you a thousand questions a day, from general FAQs like “what is an HDHP?” to more personal asks such as “which plan is right for me?” To offer one-on-one guidance at scale, many leading employers…
Smart money moves: Maximizing the tax value of an HSA
The 2023 tax filing season is officially underway. As expiring pandemic relief is expected to result in smaller refunds, consumers will be looking for ways to reduce their 2022 tax burden in the coming weeks. Enter the health savings account (HSA). If your organization offers an HSA as an employee benefit, your HR team should…
Student debt weighs heavily on employees: How Benefits can help
Your workforce carries higher education debt than you think. Sixty-five percent of college-educated Americans are managing student loan payments right now. On average, they owe $37,113, according to Credit Summit. Carrying a financial burden that heavy can impact employee wellbeing and productivity. Especially when COVID-19 federal relief benefits eventually will expire. What employers can do…
Student loan repayments resume: How HR can help
After a three-year hiatus, student loan repayments are officially starting up again this month. That means nearly 44 million out of 161.5 million working Americans will begin paying back their student loans as of October 1. And, with a collective $1.7 trillion of outstanding debt – and the average borrower holding $39,000 of debt –…
The top voluntary benefits employees need and want
Thanks to the pandemic, people are hyper-focused on their physical and mental well-being. However, they’re also laser-focused on their financial well-being. Why? Because it’s stressing them out. And with people jumping ship left and right for higher paying and better jobs, what can you do? Well, like most companies surviving a pandemic, you probably don’t…
Top 9 questions about HSAs answered
In today’s rapidly evolving healthcare landscape, Health Savings Accounts (HSAs) offer a remarkably effective solution to ease the financial strain experienced by employees due to high inflation and the changing nature of health insurance. But employees — and often employers — have legitimate questions about HSAs. Are you prepared to answer them? HSAs, when paired…
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