While media coverage of the candidates in the presidential race takes center stage, there is still the subject — which nears boiling point in every conversation and debate — of the U.S. economy and how to avoid another financial meltdown.
A healthy America is a more economically successful one, no matter what side of the aisle you hale from. Access to benefits — both health and retirement savings in the workplace — has never been more prevalent as major contributing factors to an individual’s economic success, both present and future. It doesn’t just help the individual either — it helps the health and wealth of our nation as a whole. Healthcare reform is evolving and retirement reform is on the horizon in many states, with more coming. Most companies are looking for creative ways to build out current and competitive benefit programs that retain and attract employees, while positively impacting their business and bottom line.
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Health has expanded to include more than just a healthcare plan and a gym membership — and retirement options include more than just a
Building a full stack of benefits
The evidence is clear in the
- Health and lifestyle coaching
- Multiple health savings vehicles, including high-deduction Health Savings Accounts that also function as a
retirement savings vehicle - Preventative programs for chronic health conditions — think
smoking cessation programs that also increase employee productivity and reduce hours missed in the workplace - More progressive retirement vehicles including Roth 401(k) and individual retirement accounts
- Retirement advice and preparation tools, such as one-on-one financial advice, or group financial education
- Auto-enrollment in a retirement plan with an annual increase in contribution with direct correlation to annual pay increases
Ultimately, businesses are getting creative with their benefits. What does your stack look like for 2016? It may be time for a reboot — that’s a New Year’s resolution that every business can benefit from.
If you’re low on time, check out this quick
Parks is founder and CEO of Ubiquity Retirement +