SOURCE: RedBrick Health

RedBrick Health

December 21, 2016 08:00 ET

RedBrick Health adds digital and live support for Financial Well-Being -- Addresses a top source of stress for today's employees

Unique approach combines behavioral finance and behavior design principles; research finds positive impact on saving and spending habits

MINNEAPOLIS, MN--(Marketwired - December 21, 2016) - RedBrick Health, a leading provider of technology-enabled enterprise solutions that improve population health and well-being, has expanded its financial well-being solutions. As personal finances increasingly cause employee stress and impact productivity, employers are looking for ways to incorporate financial well-being into their employee health strategies. RedBrick's latest solutions incorporate effective behavior design methods that deliver habit changes now and better financial well-being over the longer term.

The RedBrick Insights™ research team recently completed a year-long study that revealed money to be a major source of stress for employees, ranking second only to work among sources of stress.

RedBrick's approach to financial habit formation is based on behavior design and behavioral finance principles. Choice and personalization are combined in a fully integrated platform -- with both digital coaching and live personal support -- to increase confidence and produce better daily habits around spending and saving. An array of RedBrick Journeys® address specific areas to meet the needs of today's cross-generational workforces.

In addition to digital support, RedBrick's trained well-being guides provide personal coaching that can also support behavior change around financial matters, such as lowering debt and setting financial goals. They add a human dimension, using RedBrick's knowledge base, to direct consumers to appropriate professional resources, such as 401K advisors and financial planners, when needed.

"RedBrick's approach to helping individuals achieve better financial well-being applies principles of both behavior design and behavioral finance to help individuals form healthier saving and spending habits," said Steve Blume of RBC Wealth Management, a subject matter expert who contributed to RedBrick's financial well-being solution. "RedBrick is one of the few companies doing especially strong digital experience design work in this area."

And the approach works for consumers. RedBrick's research team found that 80-90% of Journeys participants report making consistent progress toward their financial well-being goals, with 34-50% reporting that they completely met their goal by the time their Journey was complete.

In addition to the financial-focused Journeys aimed at millennials and others in the workforce, such as Stash Some Cash, Smart Heath Shopper and Shrink Your Debt, a new financial well-being Journey, Start Now, Retire Happy, is now available to address the pre-retirement needs of Baby Boomers.

Employers interested in learning more can download RedBrick's new research brief, contact RedBrick, or access a recording of RedBrick's recent financial well-being expert panel webinar.

About RedBrick Health

RedBrick Health helps organizations improve population health and well-being. Because every consumer has unique needs, we combine our exclusive Behavior Change Framework with adaptive technology and live concierge services to drive greater engagement and more lasting results than industry norms. Over 100 leading employers, partners, health plans and healthcare delivery organizations rely on RedBrick Health to measurably improve the health of their populations -- while measurably improving their bottom line.

Our services do not constitute financial advice. Although there is general information provided on financial topics as part of our Services, the information is not intended as advice for any individual's particular financial circumstances. Every financial situation is different, and it is important for individuals to consult with their own financial, tax and/or legal professionals before taking action.

Visit RedBrick at RedBrickHealth.com, read more at the Health Innovation Blog, or follow the company on Twitter or LinkedIn.

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