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(9/17) Key Elements to Consider When Researching Financial Wellness Programs

By Joanne Kaldy / September 17, 2019

They may not tell you, but at least some of your employees have financial strains and concerns. About three-quarters of U.S. workers report living paycheck to paycheck, and they identify their top sources of financial stress as:

  • Affording healthcare in retirement
  • Outliving retirement savings
  • Affording bills after a job loss
  • Covering out-of-pocket medical bills
  • Relying on Social Security/Medicare

As a result of these concerns, more employers are offering or considering financial wellness platforms for employees. Before you jump on this bandwagon, ask a few questions:

  • Does the platform offer a personal assessment of each person’s current financial situation and help them identify appropriate financial goals?
  • Does it address 100% of your employees, including those with little or no financial knowledge or sophistication?
  • Does the platform integrate essential components to create a personalized plan for each employee?
  • Does it offer solutions for both short- and long-term financial challenges?

Read the full article.

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