In the wake of National Financial Awareness Day on August 14, it's a pivotal moment for organizations to shine a spotlight on employee financial wellness. According to a recent survey by Edward Jones and global data intelligence company Morning Consult, over 90% of respondents deem financial wellness crucial. Despite this, 43% of individuals do not feel financially stable, and nearly one-third have less than $500 in emergency savings. With increasing numbers of employees looking to their employers to help support them on their financial journey, it's essential for benefits brokers to leverage this opportunity to enhance the value they provide.

Financial wellness is not just a personal issue; it has far-reaching implications for organizational health. Financial stress can impact employee productivity, job satisfaction, and overall wellbeing. By proactively addressing financial wellness, organizations can foster a more engaged and motivated workforce. Brokers looking to guide organizations in improving employee financial wellness can focus on health savings accounts (HSAs) and retirement benefits, which offer two dynamic entry points. These benefits can serve as foundational tools for employees on their financial wellness journey.

First and foremost, brokers can advise their clients to emphasize why financial wellness is important — and why health benefits are not completely separate from retirement benefits. A clear understanding of the long-term benefits can motivate employees to take actionable steps toward improving their financial situation. Some of those benefits of HSAs include: