A financial wellness vendor, Four Seasons Financial Education (FSFE), has introduced a voluntary option to its corporate financial wellness programs. According to FSFE, this offering is the first of its kind in the U.S. and gives employers an alternative to traditional programs for which plan sponsors generally cover the cost.
The voluntary program, called PlanWell, was unveiled after FSFE discovered that 59% of its own employees said they would be likely to share “some cost in a financial wellness program if it could help them toward their financial goals” in a company financial wellness survey. Another 25.8% of employees answered “possibly” to the same question.
Most employers want to offer some type of financial wellness program to their employees, according to Travis Freeman, president of FSFE. A program that has employees pay some or all of the cost may make it possible for more plan sponsors to offer financial wellness.PlanWell is being offered on a limited basis through the rest of the year. For more information, email Anna Fruits at Anna.Fruits@FSFE.com.