The Hartford Study — U.S. Workers Under Financial Strain

The Hartford’s sixth annual, Future of Benefits Study was released last week. It finds over half of us living paycheck to paycheck. Worse, many of us are seeing our hard-earned savings going away as we use those savings to keep ourselves afloat.

• 72% of those surveyed say they are at least somewhat stressed by their household finances
• That’s unchanged from the 2024 survey
• 33% say financial stress is very, or extremely, high
• 53% have seen their savings decrease in the last 12 months
• 56% say their financial health is impacting their workplace performance

Mike Fish heads up employee benefits at The Hartford. He said most employers say their workplace benefits include excellent benefits and education, and are more than just a perk.

Both employers and employees agree that benefits help improve their financial security. However, getting employees to use those benefits is a challenge.

• 75% of employers say the benefits they offer are underused
• 34% of employers are adding new benefits this year
• 50% are planning to do so in 2026

Fish said even with that, employees appear confused about how to access or use them. He suggests employers find better, more consistent, and more personalized, ways to communicate those benefits to employees.

Source link: Insurance Business America — https://bit.ly/3Ur19lR