New Survey of Life and Health Insurance Brokers Reveals Greater Need for Help With Financial Wellness, Healthcare Costs and Deductibles
VIRGINIA BEACH, Va., Oct. 24, 2014 /PRNewswire/ -- A new survey of insurance brokers unveiled today reveals that many employers are concerned that existing benefit packages are not adequately meeting employees' most critical needs, particularly with regard to financial stability in an economy that remains challenging. Respondents also reported growing interest in offering employees a financial wellness program as part of a comprehensive benefits plan designed to reduce turn-over and increase productivity.
The survey, commissioned by FinFit, LLC, a provider of employer-based financial assistance and wellness programs, asked life and health insurance brokers nationwide for perspective on the types of benefits employers are exploring beyond traditional health coverage.
Nearly half of respondents said their clients have expressed interest in a benefit that would offer short-term loans to help employees cover unexpected emergencies and healthcare expenses, FinFit said. The findings also showcased employer concerns that their employees are less satisfied with benefit packages that now provide limited options for health insurance plans, yet require higher deductibles and premiums.
Highlights of the survey results include:
- 60 percent of survey respondents said they have noticed greater concern among employers about the financial well-being of employees.
- 68 percent of respondents strongly believe the employers they work with would be interested in participating in programs that help employees cover the cost of healthcare coverage premiums and / or deductibles.
- 47 percent of respondents have noticed that employers are offering a wider range of benefits aimed at helping employees improve their financial literacy and economic stability.
"We have recognized the pressing need for financial wellness programs in the workplace that help people better manage difficult financial circumstances and get back on track quickly," said David Kilby, President of FinFit. "Unexpected emergencies can create a great deal of stress for individuals and families, especially those who don't have a savings account or access to cash. This type of program helps employees address financial hardships immediately, and this enables better focus on the job and increased productivity."
The online survey was administered from September 10th to October 20th, 2014 and gathered responses from life and health insurance brokers working in a wide range of industries throughout the U.S.
For more information, visit www.FinFit.com.
About FinFit LLC
Established in 2010, FinFit works closely with business owners, executives, human resource departments, benefits administrators, and other third-party servicers to bring a sense of stability into the workplace through a combination of financial assistance and educational support.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/new-survey-of-life-and-health-insurance-brokers-reveals-greater-need-for-help-with-financial-wellness-healthcare-costs-and-deductibles-598778784.html
SOURCE FinFit, LLC
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article