What Financial Health Means to Me

Pay-Bills.pngIt’s an odd question to ask someone off the cuff, “What does Financial Health mean to you?

Some people may hear that phrase and focus on the health side, wondering about hospital bills or medical insurance.   Others may quickly understand that this is really about where one is financially, such as if their bills are able to be paid, or if their child can go to college.

But financial health is all that, and much more. It’s a subject that can impact anyone at anytime.  Right now 57% of Americans are struggling financially. This is approximately 138 million adults, and it’s not just the ‘poor’ that struggle with finances, it’s people from across the several demographics. (Source: Financial Health Consumer Segments.)

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Physical Health Linked to Financial Stress

stressed-300x216.jpgResearch published in the journal Psychological Science, led by a team from the University of Virginia and Columbia University, confirmed that concerns about money causes more than just psychological stress.

They compared levels of economic insecurity and complaints of physical pain and noticed both were on the increase. The team utilized various studies to see if the two might actually be linked. They then hypothesized that fiscal insecurity would cause people to feel a lack of control in their lives - leading them to feel anxiety, fear and stress: psychological processes that have been proven to be associated with physical pain.

One of the team's studies revealed that a participant's employment status and insecurity level corresponded with their own reports of pain.

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Paying With Our Health

November 19, 2015

health, financial stress

Jen Creech

33214038_m.jpgAbout the Stress in America™ Survey Since 2007, the American Psychological Association has commissioned an annual nationwide survey as part of its Mind/Body Health campaign to examine the state of stress across the country and understand its impact.The Stress in America™ survey measures attitudes and perceptions of stress among the general public and identifies leading sources of stress, common behaviors used to manage stress and the impact of stress on our lives.

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FinFit Offers a Solution to High Deductible Health Care Plans

November 20, 2014

health, benefits

FinFit Staff

FinFitLogoAre you interested in or currently offering a high deductible health care plan? If so, FinFit can solve challenges related to high deductibles affecting your employees.

FinFit now provides employers a resource that can offer assistance when it’s needed most, eliminating some of the distress that comes with unexpected challenges and creating a more stable workforce. FinFit’s Health Finance Program delivers a safety net for your employees at an extremely affordable rate.

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Aon Hewitt Shows Upward Trend in U.S. Health Care Cost Increases

November 20, 2014

health

FinFit Staff

Aon Corporation (http://www.aon.com) is a leading provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. There are 37,000 employees working in Aon's 500 offices in more than 120 countries. Backed by broad resources, industry knowledge and technical expertise, Aon professionals help a wide range of clients develop effective risk management and workforce productivity solutions.LINCOLNSHIRE, Ill., Nov. 13, 2014 /PRNewswire/ -- In 2014, U.S. companies and their employees saw a slight uptick in the rate of U.S. health care cost increases, according to an analysis by Aon Hewitt, the global talent, retirement and health solutions business of Aon plc (NYSE: AON).

After plan design changes and vendor negotiations, the average health care premium rate increase for mid-size and large companies in 2014 was 4.4 percent, up from 3.3 percent in 2013. In 2015, Aon Hewitt projects average health care premium increases will be 5.5 percent after plan design changes and vendor negotiations.

Aon Hewitt's analysis showed the average health care cost per employee in 2014 was$10,717, up from $10,266 in 2013. The portion of the total health care premium that employees were asked to contribute toward this premium cost was $2,487 in 2014, compared to $2,355in 2013. Meanwhile, average employee out-of-pocket costs, such as copayments, coinsurance and deductibles, increased from$2,005 in 2013 to $2,295 in 2014.

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Waging War on Workplace Stress and Employee Distractions

 

FinFitLogo-300x127.pngEmployer-sponsored health and physical wellness programs have become customary across the U.S. over the past half century. Few corporate managers today question the resulting benefits of decreased employee absenteeism and lower worker compensation costs, as well as the health plans’ value as a recruitment tool to attract and keep quality talent.

Now, more and more savvy business owners are adopting financial wellness programs in the workplace as well. This is largely due to the direct correlation between an employee’s personal finances and their work performance, health, productivity and overall job satisfaction.

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Fun Activities to keep the Kids Busy this Summer

July 17, 2014

health

FinFit Staff

Copyright: scanrail / 123RF Stock PhotoSo school is out, and the kids are getting antsy. After all, they are out of school for three months with nothing to do. Here are a few activities to get the kids involved that will surely keep them busy and happy.

Leggo my Lego

According to the Department of Education, only 16 percent of American high school seniors are proficient in mathematics. Of the students who choose to major in STEM fields, only half pursue it as a career.

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