Benefits Blog

How employee financial wellbeing can impact physical and mental wellbeing

Last January, Sam was one of 190 million Americans that made a New Years’ resolution. Her goal? Improve her physical health and get her finances in order. Sam started strong but by summertime, she found that financial issues were keeping her from achieving her goals. Sleepless nights spent anxiously thinking about debt were compounded by stress eating, and Sam avoided visiting the doctor because of the expense. As a result, her overall wellbeing suffered.

Sam’s story is just one example of how financial wellbeing can spill over into an employee’s physical and mental health. In the workplace today, many HR and benefits professionals are looking to address this link.

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Mythbusting: The Surprising Truth About Your Employee Caregivers

Ask five different people how to describe a family caregiver, and you’ll get five different answers. Whether it’s raising young children or looking after elderly parents and loved ones, caregiving is a difficult task that is frequently combined with an equally challenging day job. Yet despite 53 million1 U.S. adults identifying as caregivers, myths abound about the role, and companies that better understand and support their employees’ caregiving needs can reap significant rewards.

Myth #1: Family caregivers are women with aging parents or children with special needs who live at home with them.

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Dependent Care FSAs: How they can support your employees

Working parents have been challenged with safety and health concerns and balancing work and providing care for children whose schools or daycares were closed for extended periods.  

Now that most schools and daycares have resumed in-person education, it might be time to reevaluate benefit options to support employees with dependents. One solution is to offer employees the opportunity to opt into a dependent care flexible spending account, or DC-FSA.

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Worthen Industries Creates a Wellness Culture that Achieves 80% Employee Engagement and Remarkable Outcomes and Savings

With the firm belief that healthy employees are happier, safer, and more engaged workers, Worthen Industries made wellness a top priority over a decade ago.

Worthen wanted a comprehensive wellness program designed to improve individual health and wellbeing, prevent chronic diseases, and positively impact the quality of life of its employees and their families. Worthen also strived to attract and maintain an engaged employee base to promote long-term productivity, employee retention, and health care cost reduction. Being self-insured, Worthen wanted to control insurance costs while also creating a more “adhesive” culture of wellbeing and camaraderie among employees spread out over multiple states. Not only did Worthen want wellness to be the common thread that ties everything together, they also wanted wellness and safety to be seamless and integrated. By any measure, Worthen’s wellness efforts have been successful.

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Cybersecurity: Retirement Plan Sponsors Can Protect Themselves

The digital world has opened many doors – including some to theft and the abuse of information. When it comes to retirement plans and participant assets, cybersecurity has emerged as a significant area of focus. Read on to find out how plan sponsors can protect themselves and their participants while meeting fiduciary obligations.

Technology innovation and an unrelenting push toward a digital world open us up to a range of cybersecurity risks. For retirement plans, it’s the risk of sharing financial and personal identifiable information across platforms and third-party service providers. And with participant assets and retirement security on the line, the risks weigh on many plan sponsors’ minds.

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