Brightside is now available on UHC Hub, a curated network of vendors from UnitedHealthcare. As the only financial health solution on UHC Hub, we’re honored to join its network of esteemed vendors after successfully completing their vetting process.
UHC Hub enables employers to conveniently select and purchase vendor programs that best support their employees’ unique needs. Brightside’s addition now provides employers and employees with a solution to one of the most overlooked yet vital components of holistic healthcare – Financial Care.
“We’re thrilled that UnitedHealthcare has recognized financial health as being a key driver of employer healthcare costs and outcomes. Joining UHC Hub will reduce friction for employers navigating the important task of evaluating and implementing healthcare solutions,” said Tom Spann, CEO and co-founder of Brightside. “More and more employers understand they need to address this root cause of stress and this critical social determinant of health. We look forward to getting the support and tools needed for financial stress reduction into the hands of more working families living paycheck to paycheck.”
Why Financial Care is a critical aspect of healthcare
More than half (57%) of Americans name finances as their most significant stressor. The share of financially vulnerable Americans has grown to 17% in 2023, and debt manageability has sunk to pre-pandemic levels. Poor financial health is making workers sicker than ever, and impacting health and workplace productivity.
In fact, the Financial Health Network’s latest research revealed a clear link between physical, mental, and financial health. Its survey respondents who self-reported being in poor or fair overall health were six times more likely to be financially vulnerable, compared to those with good or excellent overall health. There was a similar pattern for mental health as well.
Financial stress eventually translates into lost productivity, turnover, absenteeism, and higher healthcare costs. Not only are 75-90% of doctor visits for stress-related ailments, but 76% of stressed workers say financial worries negatively impact their productivity.
Brightside created Financial Care to improve the financial health of working families and help income go further for the seven in 10 Americans living paycheck to paycheck. We support hundreds of thousands of families – with a focus on Fortune 500 employers and their frontline workers – and meet them where they are in the moments that matter most. Our Brightside Financial Assistants offer personalized help for all financial needs, including managing financial emergencies, reducing debt, and building savings.
This, in turn, drives employer ROI by boosting retention, lowering healthcare costs, increasing productivity, and improving workforce diversity. Whether the challenge is struggling to pay bills or saving for the future, Brightside offers a unique combination of unbiased personal financial support and a platform of real solutions to help reduce financial stress, which impacts overall employee wellbeing.