Reduction attributed to student loan debt moratorium, pandemic-related decline in credit card debt and government stimulus funds allowing many to avoid high-cost lending; but underserved populations still pay greater proportion of fees and number of factors indicate likely rise in year ahead.
This year’s annual FinHealth Spend Report examines how households in America managed their finances and accessed credit during the second year of the pandemic, analyzing year-over-year trends for more than two dozen financial products and services.
Data-driven understanding of employees’ needs can inform design and delivery of benefits programs that increase equity in employee financial health.
Employers, benefits platforms, regulators, and employees are paying more attention to earned wage access (EWA) products for their potential to improve employee financial health. Employers can maximize the positive outcomes of EWA products by minimizing associated fees, explaining the program mechanics to employees, and providing a complementary suite of financial resources.
There are few people more familiar with the financial lives of Americans than Rachel Schneider. Her seminal research on working families has profoundly changed our understanding of the financial struggles faced by families and communities across the U.S. An author-turned-entrepreneur, Rachel joins Jennifer to talk about her work on the pivotal Financial Diaries project and her new endeavor, Canary, a fintech company aimed at helping workers during moments of financial challenge.
This report shines a light on employer decisions around health insurance and how those decisions have helped shape the medical debt crisis, explaining specific actions employers should take now to reduce employee financial stress while improving productivity and retention.
This report shows how the shifting health insurance landscape has helped shape the medical debt crisis, identifying specific actions insurers should take now to boost Americans’ confidence in their coverage and motivate them to pursue timely care that reduces the need for costlier services.
This report examines the role that hospitals and health systems play in the national medical debt crisis, identifying specific actions they should take now to prevent patients from experiencing debt-related declines in financial, physical, mental, and social health.
This report provides an issue overview of the national medical debt crisis, describing its prevalence and effects on consumers, how medical debt functions as a social determinant of health and driver of health inequities, opportunities to prevent it, and long-term strategies for impact.
As the leading cause of bankruptcy in the U.S., medical debt impacts the financial lives of millions of vulnerable Americans each year. There are a number of immediate actions for healthcare stakeholders – including hospitals and health systems, insurers, and employers – to take to prevent medical debt and its devastating impacts. By working to prevent medical debt, organizations can support consumer health and well-being while also strengthening loyalty, trust, and community reputation.
How can corporate philanthropy advance racial equity in meaningful ways? Discover how Prudential Foundation is using its latest round of grants to improve financial health and inclusion. Presented by Prudential Financial
Data also shows overwhelming majority of users understand terms and are successfully using the product.