April: Benefits to Help Manage (and Save) Money

In this blog series, we’ll give you month-by-month topics for your employee benefits communication, and we’ll tee up messaging and ideas proven to grab attention. Plus, throughout the series, you’ll find downloadable templates and examples that save you the brain drain so you can get started quickly.

This blog focuses on April, but our downloadable calendar gives you a full 12 months of content.

April: Benefits to Help Manage (and Save) Money

Six in ten employees say thinking about their financial future makes them feel stressed, this study shows. Almost half say it distracts them at work. April is Financial Literacy Month, and it’s the perfect time to get employees engaged in benefits to help them feel better about their financial situation.

Plus, with the cost of medications increasing, you can remind employees how to get the most out of their prescription benefits. To HR folks, it’s common knowledge. But most people don’t speak HR.

Message #1: Get Your Bucks in a Row

Often, it’s getting started that is so intimidating when it comes to financial planning. Where do you start…and how? You can help employees by pointing them to a few resources:

  • The employee assistance program
    • “Free 30-minute financial consultation.” Many EAPs offer this benefit, plus discounted services beyond the free time.
    • “Financially frazzled? Free education with your EAP.” Most EAPs have online resources (webinars, videos, calculators, articles, etc.) for budgeting, reducing debt, and more.
  • Free credit reports
    • “They’ve got your number. Do you?” Encourage them to keep an eye on their credit score and check their reports for accuracy every year. The Federal Trade Commission has a safe, official website to start the process.
  • Your retirement savings plan
    • “It’s never too early, or too late.” Whether you start saving a little when you’re young, or a lot when you’re older, the key is to start.
    • “Any dollars are better than zero dollars.” Start small and build up. If you have a company match, remind them to contribute at least that percentage.
    • If you offer a 401(k), your vendor will have materials to help. Remember that charts and graphs speak louder than mere words.

Have a Financial Wellness Program?

If you’re having trouble getting employees engaged, see if you’re making any of these three missteps in communicating about them.

Message #2: Medication Costs Can Be a Hard Pill to Swallow

Many people know they can save money with generic medications. But hesitant people may not know that generics, by law, are as effective as the brand name. Remind people that there’s often mail-order math that adds up to savings. You may even want to mention the growing number of apps they can download to check prices.

  • “Go generic! Exact same medication, much lower price.”
  • “Mail order: $30 for 90 days. In-store: $20 for 30 days. You do the math.”
  • “Shop the apps.” Encourage people to check medication prices (especially for popular meds) on GoodRx, Blink Health, RxSaver, etc.

Employees are asking for help with managing their finances. You probably already have financial resources that can help. Promote them in April.

Stay tuned and watch for May’s blog with messaging around Mental Health Month.

As the year rolls on, you can find other blogs in this series by typing “year-round calendar” in the search area at the top of our website.

Download the year-round communications calendar – real ideas and examples