MyEnroll360 offers a financial wellness checkup tool which is designed to inform employees of their employer-offered voluntary and ancillary benefit offerings. The financial wellness checkup gives an employee the ability to evaluate an employer’s voluntary product offerings in light of the employee’s financial wellness concerns and needs. After completing the financial wellness checkup, the employee receives clear and concise recommendations and product rankings from among the employer’s offerings.
Goals for an employee of offering a financial wellness checkup include a better understanding and appreciation of their employer’s benefit offerings; a perceived opportunity for improvement in their financial well-being; and peace of mind from making an informed decision. Employers find they experience a reduced dependence on open enrollment meetings and materials, more productive enrollment sessions and fewer HR questions.
Much like the benefits selection decision support tool, the financial wellness checkup uses algorithms to match an employee’s expressed financial concerns and sensitivities to the products offered by the employer. The employee is asked 17 self-assessments taking a total of 2-3 minutes. The system quantifies the feedback in three categories of financial wellness: health and wellness; financial stress, and long-term planning.
For more information about including a financial wellness checkup tool in MyEnroll360, contact your account manager or info@BASusa.com.
