As benefits advisors, it is crucial to understand the nuances of this legislation and explore how plan sponsors can proactively assist employees in managing health care costs and avoid the burden of medical debt.
"The inclusion of comprehensive financial wellness programs further enhances the appeal for top-tier talent," says Dana Rogers, vice president of people & great work at O.C. Tanner.
Nearly two in five (37%) of Americans can't afford an unexpected expense over $400, and almost a quarter (21%) have no emergency savings at all, according to a new Empower survey.
Financial wellness programs are a vital part of the overall retirement discussion because financial stress has long-term implications for employees and employers, according to a panel of retirement industry experts.