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During Mental Health Awareness Month, New Research Shows Finances as a Concern for 85% of Stressed Workers

Workplace benefits, financial planning and wellness tools can help

This Mental Health Awareness Month, Lincoln Financial Group (NYSE:LNC) announced results from a year-long survey showing the significant impact of finances on stress. In 2023, nearly two thirds of U.S. employees surveyed felt stressed at least half the time and more than half experienced physical symptoms of stress. A total of 85% of stressed workers said finances were a factor and 34% said that stress impacted their health and wellbeing, according to the survey.[1]

Finances were a more impactful driver for workers’ stress levels than their jobs, their personal relationships, current events, their health or even their safety. Workers stressed about finances ranked managing day-to-day expenses as a top concern (57%), followed by unexpected expenses, planning for their financial future and debt (49% each).[2]

To help ease stress, employers can ensure their employees have the right benefits and protections in place, including financial wellness programs to help them navigate through their financial journeys. Of those employees who have used financial wellness resources, 77% say they’ve had a positive impact, and 69% say the support helped reduce the amount of stress they feel about finances.[3]

“Providing a suite of benefits that address a range of workers’ needs, coupled with robust education, can help employees access the tools and resources they need for improved peace of mind and wellbeing,” said Heather Deichler, Lincoln’s Group Protection Head of Product and Underwriting. “At Lincoln, we are committed to working with employers to help them craft the right benefits mix for their teams, including employee assistance programs, financial wellness resources, and an array of products that provide additional protection from unexpected, and sometimes costly, life events.”

In addition to employers doing their part to provide well-rounded benefits to support employees, Lincoln Financial recommends employees consider the following resources to manage their finances and receive the support they need.

Enroll in voluntary benefits to reduce unexpected medical expenses. Supplemental health benefits, such as Critical Illness, Accident Insurance and Hospital Indemnity, help provide a safety net by alleviating the financial strain associated with medical expenses, allowing individuals to focus on recovery without stressing over the financial implications of a medical emergency. Supplemental health benefits are especially important for employees to consider as nearly half of U.S. workers surveyed cited unexpected expenses as a top factor for their financial stress [4] and 45% said covering an out-of-pocket medical expense of more than $500 would be a financial hardship.[5]

Meet with a financial professional to create a financial plan. By meeting with a financial professional, employees can confidently take the first steps to building a secure financial future for themselves and their families by assessing their current financial portfolio. Financial professionals, or a dedicated retirement consultant available through a participating plan, can provide industry knowledge and consider personal circumstances such as accumulated debt and long-term financial goals, including retirement, to create a comprehensive and actionable financial plan.

Take advantage of employer sponsored Employee Assistance Programs. Employee Assistance Programs (EAPs), provide tools and resources such as mental health support and financial planning services to help employees navigate life events. Research shows that employees who use EAP resources have better engagement at work, life satisfaction and less workplace distress and absenteeism.[6]

Take control over your finances. Wellness programs like Lincoln WellnessPATH® are designed to improve financial health, provide educational resources and track goals, giving employees confidence when making financial decisions. Lincoln WellnessPATH® also connects individuals with partner companies that help them work toward their financial goals.

Lincoln Financial is committed to helping empower individuals to achieve greater financial security, resilience and peace of mind through a suite of workplace solutions products, including WellnessPATH ®, as well as services and educational resources. Visit Lincoln’s “mental well-being in the workplace,” “wellness solutions” and the “prepare for the moments that matter” sites for more information.

About Lincoln Financial Group

Lincoln Financial Group helps people to plan, protect and retire with confidence. As of December 31, 2023, approximately 17 million customers trust our guidance and solutions across four core businesses – annuities, life insurance, group protection, and retirement plan services. As of March 31, 2024, the company had $310 billion in end-of-period account balances, net of reinsurance. Headquartered in Radnor, Pa., Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE: LNC) and its affiliates. Learn more at

Lincoln Financial’s mental health and wellbeing programs have been recognized by Ragan as a Top Places to Work for Employee Wellbeing: Large Organization and Honorable Mention in the Mental Health Initiatives Category.

[1] Lincoln Financial, Consumer Sentiment Tracker, 2023

[2] Lincoln Financial, Consumer Sentiment Tracker, 2023

[3] Lincoln Financial, Wellness@Work: Retirement, 2023

[4] Lincoln Financial, Consumer Sentiment Tracker, 2023

[5] Lincoln Financial, Consumer Sentiment Tracker, 2022

[6] Attridge, M. (2023). The Current State of Employee Assistance Programs in the United States: A Research-based Commentary. International Journal of Scientific and Research Publications, 13(8), 74-91



Isabella Bogdahn

Lincoln Financial Group

(941) 708-9333

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