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New~ Bank of America Merrill Lynch Study Reveals More Than Half of Employees Experience Financial St(2)

2017-06-16 16:14 [BANK] Source:Netword
Guide:Rising health care costs continue to be a key source of stress foremployees. A growing number of employees indicate they have experiencedan increase in health care costs, which is up 10 percentage poi

Rising health care costs continue to be a key source of stress for employees. A growing number of employees indicate they have experienced an increase in health care costs, which is up 10 percentage points since 2015 (79 percent in 2016 vs. 69 percent in 2015). Among employees who have experienced increasing health care costs, 56 percent are contributing less to their Financial goals as a result.

Amid growing concerns over health care costs, employees place great value on the health benefits provided by their employer. In fact, employees rank their health benefits as their top employer benefit (40 percent), followed by their 401(k) plan (31 percent).

For more findings from the Bank of America Merrill Lynch Workplace Benefits Report and actionable advice for plan sponsors, click here.

Workplace Benefits Report Methodology
Boston Research Technologies conducted an online survey with a national sample of 1,242 employees between September 22 and October 7, 2016, on behalf of Bank of America Merrill Lynch. To qualify for the survey, employees had to be current participants in a 401(k) plan; the plan did not have to be provided by Bank of America Merrill Lynch. Bank of America Merrill Lynch was not identified as the sponsor of the study.

Bank of America
Bank of America is one of the world's leading Financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other Financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 47 million consumer and small business relationships with approximately 4,600 retail Financial centers, approximately 15,900 ATMs, and award-winning digital banking with approximately 35 million active users and more than 22 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in all 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the new York Stock Exchange.

Bank of America Merrill Lynch is a marketing name for the Retirement Services business of Bank of America Corporation (BofA Corp). Banking activities may be performed by wholly owned banking affiliates of BofA Corp, including Bank of America, N.A. (BANA), member FDIC. Certain associates are registered representatives with Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S) – a registered broker-dealer, member SIPC, and wholly owned subsidiary of BofA Corp – and may assist you with investment products and services outside of Heath Benefit Solutions. MLPF&S does not provide any services for the Bank of America HSA.

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