Why a Middle-Aged Employee Needs a Financial Wellness Benefit

As an employee benefits broker, you know how important it is to educate your clients about the benefits they can offer their employees. One of the most important benefits you can recommend is financial wellness. Middle-aged employees, especially, can benefit from such a benefit. They can use a financial wellness benefit, and this service can help both the employee and the employer.

Financial Stress

Financial stress can affect an employee’s physical and mental health. It can also affect their productivity at work. Middle-aged employees often have multiple financial responsibilities, such as children’s education, saving for retirement, and paying off debts. Financial wellness can help employees manage stress by providing budgeting, financial planning, and debt management education and resources.

Preparing for Retirement

Middle-aged employees are approaching retirement age and need to prepare themselves financially for the next phase of their life. Financial wellness can help employees plan for their retirement by providing education on saving plans, investment options, and retirement income. It also helps employees understand the importance of having a retirement plan and how to maximize their retirement benefits.

Health Savings Accounts

Retirement is an important concern, but healthcare costs rise as a person gets older. As middle-aged employees start to worry about their healthcare expenses, financial wellness benefits can offer them the opportunity to enroll in Health Savings Accounts (HSA) or contribute more to existing accounts. HSA helps employees save for their health care expenses, helps them manage their medical bills, and allows them to have tax-free funds to pay those expenses.

Improved Productivity

Financial wellness can also benefit employers by leading to increased productivity. Middle-aged employees with financial worries will be less productive at work. With financial wellness benefits, those relied upon workers can feel more satisfied and secure, leading to improved productivity. Employers can also benefit by retaining those hard-working employees who might otherwise be looking to make a career change or even retire early.

Reduce Absences

Financial worries can also lead to absenteeism. Employees who have financial concerns tend to take more time off work. Middle-aged employees are no different from others and might call in sick to deal with serious money matters. The financial wellness benefit gives information and guidance to help employees manage their finances, reducing absenteeism and improving employee attendance. Countrywide Pre-Paid Legal Services has a financial wellness benefit for all employees.

Counselors Giving Great Advice

Countrywide has a certified counselor in the community of every client organization. These professionals are aware of typical middle-aged employees’ worries and suggest solutions to common financial problems. The counselors perform budget analyses that allow a plan member to meet existing bills, set aside money for retirement, and save for medical expenses. Tips on how to save for a child’s college education and manage credit card debt are some of the additional services a Countrywide counselor gives.

As a Countrywide client, an organization designs its financial wellness plan. Management chooses the benefit options, and Countrywide furnishes the administration and the member services. A relationship built on transparency and efficient service that benefits all employees is created.

Middle-aged employees have a lot of financial responsibilities to assume. They must manage their stress, retirement plans, and healthcare expenses. Employers must provide financial wellness benefits to meet the needs of these loyal associates. By offering a financial wellness benefit, employees can access valuable information, resources, and tools to help them manage their finances and improve their well-being. Countrywide Pre-Paid Legal Services has a plan they can use.

If you want to learn more about Countrywide, please contact us at your convenience. We think you will like what you hear, and we are willing to share all our information with you.