Spotlight On Employee Benefits

American Workers Want Financial, Physical And Mental Wellness Benefits

Posted 8/16/22

(NAPSI)—Open enrollment is quickly approaching and while businesses continue to navigate through economic uncertainties, dynamic shifts and the ongoing Great Resignation, strong benefits offerings …

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Spotlight On Employee Benefits

American Workers Want Financial, Physical And Mental Wellness Benefits

Posted

(NAPSI)—Open enrollment is quickly approaching and while businesses continue to navigate through economic uncertainties, dynamic shifts and the ongoing Great Resignation, strong benefits offerings could help retain employees.

That’s what was revealed by the fifth annual HSA Bank Health & Wealth Index, a report that explores trends in consumer financial and physical health, and for the first time, mental health. Here are the key findings:

•More than half of Gen Z would change employers to get better healthcare benefits.

•Thirty percent of respondents were not sure if they could afford healthcare costs in the near-term or in retirement.

•Families with children really value telehealth. Sixty-one percent of respondents with children reported using telehealth services compared to 43% of respondents without children.

Mental Health On Their Minds

HSA Bank’s Health & Wealth Index is helping employers better understand workers’ mental health and important benefits. 

For example, there’s room for improvement when it comes to mental health. One in five respondents indicated they were not very or not at all confident about their overall mental health.

The survey found a large divide around engagement and perceived value of the mental health benefits available, with 81% of baby boomers and 64% of Generation X indicating they have never gotten mental healthcare compared to 46% of millennials and 43% of Generation Z.

Expert Opinion

“We’re pleased to see that engagement in health and wealth continues to be a priority for Americans,” said Chad Wilkins, president of HSA Bank, a division of Webster Bank, N.A. “There is still room for improvement, however, and employers can lead the way by providing tools, resources, education and opportunities to empower Americans to make even better decisions when it comes to their health and wealth.”

Wilkins continued: “HSA Bank works with employers every day on revisions to plans, incentives, promoting preventive care and adjusting educational initiatives to account for virtual engagement. We’re excited to see how we can help employers continue to improve engagement using the tools and resources we offer.”

About The Bank

HSA Bank aims to work toward a world where everyone is empowered to save for a healthy future. By providing the right tools and resources, it makes it simple for its 3 million members nationwide to maximize their savings for healthcare and long-term goals. As a leader in health accounts for over two decades, it continues to innovate. Its offerings in the healthcare savings space drive down healthcare costs, increase access, and assist with decision-making for consumers, health plans, partners, and advisors. 

Learn More

For further facts and to view the entire study, visit www.hsabank.com.

 
Great Resignation, employers, resources, education, opportunities, workers, health, wealth, mental health, telemedicine, GenZ, GenX, Boomers, Millennials, HSA Bank, education, preventive care, savings, health plans, finance, open enrollment