Financial fears fuel Hispanic employee burnout
GEORGIA, UNITED STATES — A new study by U.S. supplemental health insurer Aflac showed growing mental health struggles and financial insecurity among employees, especially Hispanic workers.
The 13th annual WorkForces Report, which surveyed over 1,200 employers and 2,000 staff, revealed that 66% of Hispanic respondents couldn’t go a month without pay versus 51% overall.
Hispanic employees also rely more on personal networks to handle unexpected medical costs, with 29% tapping family and friends versus 24% for non-Hispanic workers.
Other findings include:
- 54% of Hispanic staff are anxious about potential health costs exceeding insurance
- 43% rely on savings for surprise medical bills vs. 53% of non-Hispanic employees
- 57% of Hispanic workers unprepared for $1,000 in out-of-pocket health expenses vs. 50% average
“Supplemental [insurance] benefits that help directly address employees’ anxieties about the future can be a compelling solution,” the report said.
Although 80% of employers offering supplemental health insurance said it aids hiring and 82% linked it to retention, only 39% make such options available.
As healthcare costs climb, the data highlights that accessible solutions to support financial, physical, and mental health are needed.
