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Health care workers aren’t saving enough for retirement: Personalized planning is key

Encouraging the use of wellness tools that put the power to manage goals and find resources in the hands of employees can help them manage stress and budgeting.

By Lynn Cavanaugh | November 15, 2024 at 01:00 PM
Hospital Lobby. Doctors, Nurses, Assistant Personnel and Patients Working and Walking in the Lobby of the Medical Facility. Credit: Gorodenkoff Productions OU/Adobe Stock

Saving for retirement presents unique challenges to the health care industry. Despite 88% of health care employees reporting that they are saving for retirement, 48% say that debt is the reason they’re saving less than they need.Employers can offer a number of solutions to help health care workers who cite debt as a primary challenge when saving for retirement, including:

  • A holistic benefits package, including supplemental health benefits such as critical illness, accident coverage and hospital indemnity insurance.
  • Personal, one-on-one guidance through a dedicated retirement consultant to discuss retirement goals and life circumstances to create a personalized plan for saving for retirement.

We talked with Anne Shiembob, Vice President, Retirement Plan Services at Lincoln Financial, about serving the retirement planning needs of the health care industry.

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