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January 2020 Edition

One of the most talked-about trends in employee benefits the last few years has been fast-emerging financial wellness programs. And it’s sure to stay on this upward trajectory in 2020. Why?

Because health care costs continue to rise. In fact, a survey conducted by National Business Group predicts health care benefit costs could increase as much as 5 percent.1 And these costs will affect both employees and their employers – as health benefit costs rise to keep up with health care costs.

By promoting overall well-being through financial wellness programs, companies can help employees avoid the need for emergency care and associated expenses – and keep benefit packages as affordable as possible for everyone.1

What are the top financial wellness benefits employees want most?

In Securian Financial's recent positioning paper, “The case for comprehensive financial wellness benefits,” there are 10 building blocks companies of all sizes can use to create a program relevant for their workforce:

  1. Budgeting assistance and debt reduction
  2. Financial education seminars
  3. Self-service money management tools
  4. Student loan repayment and assistance
  5. Personal financial counseling
  6. Legal consultation
  7. Legacy planning resources (wills and trusts)
  8. Beneficiary financial counseling and grief resources
  9. Identity theft assistance
  10. Travel assistance

Businesses don’t have to create a financial wellness benefits program from scratch – all on their own.

Securian Financial offers comprehensive financial wellness benefits within its Financial Wellness 360® program. Designed to meet the needs of diverse workforces, HR leaders can mix and match Financial Wellness 360 offerings that meet their employees where they are: online, in person or self-paced:

  • SmartDollar® - A guided, online program that acts as a personal finance coach and takes a holistic approach to financial wellness to help produce lasting behavior change.
  • Advisor Connection - Worksite education led by a financial professional that helps employees learn about relevant finance principles, including personal finance and retirement strategies.
  • CommonBond for Business – A full suite of student loan assistance benefits, including an employer contribution platform, student loan evaluation tool, refinancing and low interest loans.
  • Lifestyle Benefits – Complimentary self-service tools that help employees address today’s financial challenges and plan for tomorrow, from legal and grief resources to ID theft recovery and legacy planning.

As companies continue to grapple with rising health care and benefit costs, financial wellness programs will likely gain even greater popularity across the U.S. this year. And employees and employers have everything to gain: better overall health, that could possibly lead to a missed trip to the ER – or sick day from the office.


1. Sheth, Dinesh. “What employers can do to combat rising health care costs in the new year.”, December 16, 2019.

F88782-28 1-2020   DOFU 1-2020

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