Edukate Seeks to Merge Financial and Physical Wellness

Financial wellness provider Edukate’s technology is now integrated into HealthSpective, the DHS Group’s health benefits management solution, to provide employers with actionable data about the state of their employees’ financial and physical health.

Edukate also aims to enhance the financial wellness of employees struggling with money management by providing guidance, resources and assessments to drive behavior.

“By integrating with Edukate, DHS Group offers employers the ability to address the number one cause of health stress by helping their workforce gain control and feel confident about their finances,” says Jim Pritchett, DHS Group CEO.

Today, thousands of Americans are struggling with their finances and studies show that stress is affecting workplace productivity. A recent survey by Mercer found that employees on average spend about 150 work hours worrying about finances each year. Furthermore, a study by PwC found that workers’ financial struggles and resulting impact on overall well-being could cost large employers millions per year in productivity loss.

And because financial stress has had a major impact on the mental health of employees, providers have recently moved forward to tackle both issues through holistic well-being programs.

“Traditionally, financial wellness and health care have been segmented into two different benefit groups and addressed individually,” explains Chris Whitlow, founder and CEO of Edukate. “Edukate’s partnership with DHS Group is bridging this gap in a significant, innovative way. We want to show users the real impact their spending has on their stress levels and overall health. By teaching employees how finances and health are connected, we are providing them with actionable steps they can follow to gain control over their overall health—which benefits both the individual and their employer.”