When asked how employers could help improve their financial lives, connecting them to information and advice was just one idea offered by interviewees. Higher wages and benefits that subsidized or reduced typical expenses were much stronger recommendations, suggesting that employees might find it easier to see valuable solutions in those domains.
Michal Grinstein-Weiss, PhD, MA, MSW, Director of the Centene Center for Health Transformation, was recently inducted into the American Academy of Social Work & Social Welfare (AASWSW). The AASWSW is an honorific society of distinguished scholars and practitioners dedicated to achieving excellence in the field of social work and social welfare through high-impact work that advances social good.
o Without knowing what the financial lives of your employees look like, it’s hard to know how to improve their financial wellness. Before asking what your employees need, it’s best to ask, “What are the financial realities our employees face?” Answering this question up front will not only help with program selection, it can pay dividends after program implementation to help measure progress.
Frank-Miller, E. and Despard, M.;
Dissemination of research findings from the Employee Financial Wellness Programs project through a series of webinars to the National Fund for Workforce Solutions’ regional collaboratives.
A new short-format video produced through Centene’s industry-academia partnership, the Centene Center for Health Transformation™, sets the stage for current and future investigation into the impact of social determinants on health behaviors and health outcomes.
Sun, S., Roll, S. P., Kondratjeva, O., Bufe, S., & Grinstein-Weiss, M. (2019, March). Assessing the Short-Term Stability of Financial Well-Being in Low- and Moderate-Income Households. (SPI Research Brief No. 19-01). St. Louis, MO: Washington University, Social Policy Institute.
Bufe, S., Sun, S., Roll, S. P., Kondratjeva, O., & Grinstein-Weiss, M. (2019, March). How do Changing Financial Circumstances Relate to Financial Well-Being? Evidence from a National Survey. (SPI Research Brief No. 19-02). St. Louis, MO: Washington Univer¬sity, Social Policy Institute.
To comprehensively address employee financial wellness, employers should include a mix of “high-touch” and “low-touch” financial programs. Higher-touch programs, like financial coaching and counseling, are better positioned to support financial stability over a sustained period of time and can be tailored to meet the situations of those most vulnerable to financial insecurity.
Unmet basic needs — which include but are not limited to food, housing and utilities — have long been associated with a range of negative health-related outcomes. New research by the Centene Center for Health Transformation now confirms that people with multiple unmet needs have even worse health outcomes.
Despard, M.; Presentation sponsored by Duke University’s Center for Advanced Hindsight on behavioral design principles and financial health.
Unfortunately, not having enough money to cover unforeseen expenses or experiencing a loss of income is common for many families living paycheck-to-paycheck, who risk missing important payments like rent. But, employers can help by offering low-touch interventions like wage advances or small-dollar loans.
Frank-Miller, E. and Despard, M.; Dissemination of research findings from the Employee Financial Wellness Programs project through a series of webinars to the National Fund for Workforce Solutions’ regional collaboratives. Hosted by the National Fund for Workforce Solutions.
When employers learn more about what employees experience and prefer, they also need to consider offering a mix of programs. Considering different types of content is important, but so is crafting a mix of “high-touch” and “low-touch” programs that offer direct, immediate resources as well as support for achieving longer-term goals.
The passage of the 2010 Affordable Care Act provided many more Americans access to health insurance, but Obamacare’s legacy goes beyond medicine. According to new research, greater access to health insurance also leads to a significant reduction in Americans becoming delinquent on rent and mortgage payments. Riquier, A.
A collaboration between SSM Health DePaul Hospital and Operation Food Search connects obstetrics patients in the St. Louis area with nutritious food and other necessities to promote healthy pregnancies and improve birth outcomes for mothers and babies.
SSM Health DePaul’s OB Care Center and local food bank Operation Food Search partnered to create the “Fresh R-X” program. Doctors and nurse practitioners screen expecting mothers for food insecurity during checkups.
Lucinda Perry from Operation Food Search promotes “Fresh RX-Nourishing Healthy Starts”, a fresh food prescription program that aims to help pregnant women make good food choices.
January 31, 2019: Learn how this innovative program provides fresh local food for strong moms and healthy babies. Enjoy food from local farmers while meeting program contributors and participants.
Michal Grinstein-Weiss, Associate Dean for Policy Initiatives and professor at the Brown School, recently represented Washington University in St. Louis at the University Social Responsibility Summit, co-hosted by the University of Haifa, the Hebrew University of Jerusalem and Hong Kong Polytechnic University. Niemeyer, K.
While the Trump administration has pledged that the Internal Revenue Service will still issue tax refunds, recent changes to the tax code will make that promise difficult to keep, especially with regard to these critical refunds. As the shutdown stretches on, people who depend on the EITC for relief may face serious hardship. Capps, K.
The Nudgeathon program aims to improve the performance of social services provided by the JDC by employing Behavioral Economics methodologies and tools. The main tool used is a “nudge.” Nudges are interventions designed to influence people’s behavior by subtly altering the choice architecture in which they make decisions without limiting their freedom of choice.
Researchers from University of Colorado at Boulder and Washington University in St. Louis analyzed three years of tax data and survey responses from 15,000 people to test the effect of having health insurance among low-income Americans. They found that low-income people who purchased health care through an Obamacare marketplace were 25 percent less likely than poor Americans without health insurance to miss housing payments. Bauman, V.
According to a 2017 survey by benefits consultants Alight Solutions, almost 25 percent of employers have a financial wellness program in place, and almost half are in the process of creating one. Some three out of four firms with more than 10,000 employees now offer a financial wellness program, according to a recent study by the Employee Benefits Research Institute. Wasik, J.
Sun, S., Kondratjeva, O., Roll, S. P., Despard, M., & Grinstein-Weiss, M. (2018, December). Financial well-being in low- and moderate-income households: How does it compare to the general population? (SPI Research Brief No. 18-03). St. Louis, MO: Washington Univer¬sity, Social Policy Institute.
Dr. Grinstein-Weiss discusses inter-sectional collaboration in promoting social responsibility through innovation and entrepreneurship at the University Social Responsibility Network Summit.
Frank-Miller, E.; Speaker at The Conference Board’s Employee Financial Well-Being Conference, Chicago, IL.
November 10, 2018: 10:15 AM-11:45 AM McKinley – Mezz Level (Marriott Wardman Park) Panel Chairs: Nisha Patel, Robin HoodDiscussants: Jeremie Greer, Prosperity Now and David Newville, Prosperity Now
November 10, 2018: 8:30 AM-10:00 AM 8216 – Lobby Level (Marriott Wardman Park) Panel Chairs: Anne Romatowski, JP Morgan Chase & Co.Discussants: Kasey Wiedrich, Prosperity Now
November 9, 2018: 8:30 AM-10:00 AM
8228 – Lobby Level (Marriott Wardman Park) Panel Chairs: Olga Kondratjeva, Washington University in St. Louis
Discussants: Stephen Grant, Prudential Workplace Solutions Group
Frank-Miller, E.; Dissemination of research findings from the Employee Financial Wellness Programs project to the National Fund for Workforce Solutions’ regional collaboratives. Hosted by the National Fund for Workforce Solutions.
This work aims to encourage the saving of the tax refund through an experiment embedding behavioral interventions in a tax filing platform serving almost a million low- and moderate-income households.
Low- and moderate-income (LMI) households lack sufficient liquid assets to address unexpected emergencies and dips in income (McKernan, Ratcliffe, & Vinopal, 2009; Pew Charitable Trusts, 2015). Receiving tax refunds is an opportunity for recipients of the Earned Income Tax Credit (EITC) to build emergency savings to help cope with these financial shocks.
On-demand peer-to-peer services (‘gigs’) coordinated by platforms like Uber, allow workers to decide for themselves when and how much to work. This flexible work arrangement offers workers granular control over their earnings.
The Government Savings for All program, launched in January 2017, is relatively successful for similar programs in other countries, but raises concerns that should be taken into account – a study that accompanies the plan shows. Heruti-Sover, T.
Despard, M.; Presentation to philanthropic leaders through the Asset Funders Network summarizing research findings and recommendations from the Employee Financial Wellness Programs project. Hosted by the Asset Funders Network: Working Group on Work and Wealth.
Fox-Dichter, S., Frank-Miller, E., & Wolter, S. (2019). Making dependent care FSAs work for low- to moderate-income families: 5 action steps for policymakers [Policy Highlight No. 19-01]. St. Louis, MO: Washington University, Social Policy Institute.
Gallagher, E., Gopalan, R., & Grinstein-Weiss, M. (2018). The Effect of Health Insurance on Home Payment Delinquency: Evidence from ACA Marketplace Subsidies. Journal of Public Economics. 172(1), 67-83.
Davison, G., Roll, S. P., Taylor, S. H., & Grinstein-Weiss, M. (2018, January). The state of state EITCs: An overview and their implications for low- and moderate-income households (CSD Research Brief No. 18-04). St. Louis, MO: Washington University, Center for Social Development.
Roll, S. P., Davison, G., Grinstein-Weiss, M., Despard, M. R., & Bufe, S. (2018). Refund to Savings 2015–2016: Field experiments to promote tax-time saving in low- and moderate-income households (CSD Research Report No. 18-28). St. Louis, MO: Washington University, Center for Social Development.
Davison, G., Covington, M., Kondratjeva, O., Roll, S. P., & Grinstein-Weiss, M. (2018, June). A toolkit for expanding financial capability at tax time (CSD Toolkit No. 18-26). St. Louis, MO: Washington University, Center for Social Development.
Fox-Dichter, S., Zeng, Y., Despard, M., Frank-Miller, E., & Germain, G. (2018). Employee financial wellness programs: Differences in reach by financial circumstances (SPI Research Brief No. 18-02). St. Louis, MO: Washington University, Social Policy Institute.
Fox-Dichter, S., Despard, M., Frank-Miller, E., & Germain, G. (2018). Employee financial wellness programs: Differences in reach by race and ethnicity (SPI Research Brief No. 18-01). St. Louis, MO: Washington University, Social Policy Institute.
Despard, M. R., Taylor, S. H., Ren, C., Russell, B. D., Grinstein-Weiss, M., & Raghavan, R. (2018). Effects of a tax-time savings experiment on material and health care hardship among low-income filers. Journal of Poverty, 22(1), 156–178. doi:10.1080/10875549.2017.1348431
Roll, S. P., Russell, B. D., Perantie, D. C., & Grinstein‐Weiss, M. (2018). Encouraging Tax‐Time Savings With A Low‐Touch, Large‐Scale Intervention: Evidence From The Refund To Savings Experiment. Journal of Consumer Affairs. https://doi.org/10.1111/joca.12194
Despard, M., Grinstein-Weiss, M., de Ruyter, A., Guo, S., Oliphant, J., & Friedline, T. (2018). Effects of a randomized tax-time savings intervention on savings account ownership among low- and moderate-income households. Journal of Financial Counseling and Planning.
Despard, M. R., Guo, S., Grinstein-Weiss, M., Russell, B., Oliphant, J. E., & deRuyter, A. (2018). The mediating role of assets in explaining hardship risk among households experiencing financial shocks. Social Work Research, 42(3), 147–158.
Despard, M., Grinstein-Weiss, M., Guo, S., Taylor, S., & Russell, B. (2018). Financial shocks, liquid assets, and material hardship in low- and moderate-income households: Differences by race. Journal of Economics, Race, and Policy.
Davison, G., Frank-Miller, E., Roll, S. P., & Grinstein-Weiss, M. (2018). Promoting savings at tax time: Insights from online and in-person tax preparation services (CSD Research Report No. 18-33). St. Louis, MO: Washington University, Center for Social Development.
New research from the Duke researchers at the Centene Center for Health Transformation™, published this month in the journal Appetite, explains how our lay beliefs, or naïve models, lead us to faulty assumptions about how our “dietary splurges” impact our weight, resulting in a lack of compensation following these indulgences and self-serving biases.