A 2023 report published on the Financial Health Network examined the relationship between stress and mental well-being and found finances are one of the leading causes of stress for 4 in 10 Americans. Employees experiencing elevated levels of financial stress also experience less job satisfaction, productivity, engagement and focus. Their situations can lead to higher absenteeism and increased health care costs, negatively impacting a business’ bottom line.

While benefits packages have focused on helping employees save for life after work with contributions and matches to their retirement plans, consumers are placing a greater emphasis on personal and financial wellbeing today, according to the findings in the 2024 HSA Bank Health & Wealth Index, a comprehensive report that explores trends among consumer finances, health and wellbeing.