Milwaukee, April 30, 2025 – HSA Bank, a division of Webster Bank, N.A., today announced results of the eighth HSA Bank Health & Wealth IndexSM, highlighting trends and generational differences among employees and their finances, health and wellbeing.
The Index reveals positive lifestyle changes along with high confidence and awareness among employees regarding their benefits. However, confidence drops when employees look ahead, with 41% reporting they are unprepared financially to retire and almost two-thirds expressing concern about current or future medical costs.
“A key takeaway from this year’s Health & Wealth Index proves employees are engaged in their health and wealth, but they’re also feeling unprepared when they consider future medical costs and retirement,” said Chad Wilkins, President of HSA Bank. “As employer benefit programs change and employee needs shift, employers have a critical opportunity to provide benefits and educational information that meet their current and long-term needs.”
Key Health & Wealth Index findings include:
- 85% of employees are making positive changes. During the past year, 85% of employees have made a conscious lifestyle change to improve their physical health. Notably 84% of Gen-Zers report they have made intentional changes to improve their financing through means like paying off debt, funding an emergency savings account, and investing compared to the average of 74% for all employees.
- Few are saving for emergencies. Unexpected costs can have a direct impact on employee mental health and productivity. Only one in four employees report they set aside money for unexpected or unplanned emergency expenses. Similarly, 27% of employees reported that employers could help them with expenses by offering an emergency savings account.
- Finances are impacting mental health differently among generations. More than one-third of employees report they regularly think about a financial decision they regret. Money causes a significantly higher toll on mental health among Gen-Z (45%) and Millennials (45%) compared to older generations (Gen-X 35% and Baby Boomers 17%). Millennials lead responses for the age group reporting they’d like to save more (69%) and invest more (50%).
- Better benefits are motivation to move. Forty-two percent of employees claimed to be likely to change employers due to improved benefits, with this number higher among Gen-Z (54%) and Millennials (49%).
The Index also emphasized the need to help employees enroll in benefit programs as more than a quarter of employees (26%) said they often rely on resources outside their employer to make decisions about their healthcare plan. Gen-Z are more likely to feel stressed when enrolling in medical insurance (30%) and more than two-thirds rely on external resources to help make benefits enrollments.
“The retirement journey is more than a 401(k) plan. Today, employees are seeking employers who can help them save for emergencies and support their personal and financial wellbeing,” said Kevin Robertson, Chief Revenue Officer at HSA Bank. “In addition to helping create a bigger nest egg for the future, these actions have clear business benefits including stronger connections, reduced turnover and higher productivity.”
The HSA Bank Health & Wealth Index is on HSA Bank’s website here.
About the Study:
HSA Bank surveyed more than 2,000 employed, full-time and benefit-eligible individuals ages 18 to 74 across a range of industries. The survey was commissioned by HSA Bank and executed by a third-party organization. The margin of error for this sample size is +/- 2.18 percent at the 95 percent confidence level. Smaller subgroups have larger margins of error.
About HSA Bank:
At HSA Bank, we’re working toward a world where everyone is confidently engaged with their health and wealth. By delivering personalized insights, experiences and solutions, we make it simple for our nearly 4 million members nationwide to drive value and tangible outcomes. As a leader in health accounts for over two decades, we have the depth and breadth of expertise that matters most. We are devoted to delivering an outstanding user experience and our offerings in the healthcare savings space drive down healthcare costs, increase access, and assist with decision-making for individuals, employers and partners. As of March 31,2025, HSA Bank had $14.3 billion in total footings comprising $9.2 billion in deposit balances and $5.1 billion in assets under administration through linked investment accounts and is a division of Webster Bank, N.A., Member FDIC. Plan Administrative Services and Benefit Services are administered by Webster Servicing LLC.