Balancing Health Benefits, Financial Wellness on a Budget

With rising healthcare costs, inflation, and economic uncertainty, employers must be diligent about staying within budget while still offering the benefits and support their people need.

In his recent article, Rob DiMase shares some strategies to help employers balance health benefits with financial wellness. He emphasizes the importance of employee surveys to understand which benefits matter most, helping organizations tailor packages that boost satisfaction while avoiding unnecessary spending. 

Rob also encourages strategies like promoting tax-advantaged accounts (FSAs, HSAs) and exploring alternative funding options (HRAs, self-funding) to reduce costs. He stresses the key role of brokers and advisers in guiding employers through these options, noting that "by surveying employee preferences, employers can offer valuable benefits while maintaining financial stability."

"With the right support, organizations can foster a culture of health and financial wellness, empowering employees to make informed healthcare decisions."

Interested in learning more? Read the full Employee Benefit News article here.