Prudential adds Wellthy, a service for caregivers, to its financial wellness portfolio
More than 15% of American workers report providing ongoing care
for a chronically ill, disabled or elderly person, and 1 in 4 women
are considering downshifting their careers or leaving the workforce
because of child care and other challenges due to COVID-19. The
responsibilities these caregivers bear has been heightened during
the pandemic, accelerating mental health and workplace productivity
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Judy Dougherty, Head of Enterprise
Capabilities, Prudential Financial (Photo: Business Wire)
Prudential1 (NYSE: PRU) is partnering with Wellthy, a leading
provider in the caregiving space, to incorporate Wellthy’s suite of
digital and concierge caregiving services into Prudential’s
financial wellness offering. These services will help employers
relieve the caregiving burden impacting their employees.
The new partnership will enable Prudential to offer no-cost
access to Wellthy’s digital caregiving tools, such as educational
content, digital care plan creation, storage of digital caregiving
documents (e.g., prescriptions, medical records, wills, etc.),
access to a shared calendar to track appointments, and the ability
to establish a group caregiving discussion.
Wellthy’s caregiving services complement employee assistance
programs by providing individuals with a digital platform to
organize and manage caregiving activities, along with the option of
concierge services that provide hands-on support to help relieve
their caregiving burden and save them hours every week.
For example, employers will have the option to pay or enable
their employees to pay for a dedicated Care Coordinator to help
individuals manage the logistical and administrative tasks of
caring for loved ones on a family’s behalf, including:
- Sourcing and vetting in-home aides and child care
- Evaluating insurance coverage for home safety
- Setting up meal delivery services.
- Identifying in-network physical therapy providers.
- Arranging transportation to/from appointments.
- Setting up calendars for appointment management.
- Assisting with financial claims and billing support (e.g.,
liaising between medical providers, hospital and Medicare).
- Researching local elder care attorneys specialized in estate
Prudential will also partner with employers to provide referrals
to employees during critical moments that matter (e.g., leave of
absence, birth of a new child, illness of elderly relatives) to
optimize employee usage of Wellthy’s caregiving resources.
“The COVID-19 pandemic has blurred the lines between work and
home. It has pushed many employees into multiple and sometimes new
caregiving roles that impact their ability to balance work, home
and the needs of their loved ones. This balancing act is creating
additional pressure on an already challenged caregiving system,”
said Judy Dougherty, head of Enterprise Capabilities at Prudential
Financial. “The benefits of Wellthy’s service are lower stress and
improved productivity by assisting with some administrative and
logistical tasks associated with caregiving, and in some cases
reduced income disruption associated with unpaid leave. The
addition of Wellthy to our portfolio is another way we are helping
people achieve and maintain financial wellness.”
For employers, the benefits of investing in caregiver support
are also clear. Caregiving costs employers several thousand dollars
per caregiving employee per year—on lost productivity, absences,
and talent retention.
“Well before the pandemic, caregiving was a serious challenge
for so many Americans and we’ve remained steadfast in our
commitment to lift the burden off caregivers,” said Lindsay
Jurist-Rosner, CEO of Wellthy. “Our model is built on transforming
family care through personalized care support that caregivers can
control from an online dashboard, and we are pleased that more and
more employers are seeing the value of providing their workforce
with access to caregiving support.”
Learn more about Prudential Financial Wellness
About Prudential Financial, Inc.
Prudential Financial, Inc. (NYSE: PRU), a financial wellness
leader and premier active global investment manager with more than
$1.5 trillion in assets under management as of Dec. 31, 2020, has
operations in the United States, Asia, Europe, and Latin America.
Prudential’s diverse and talented employees help to make lives
better by creating financial opportunity for more people.
Prudential’s iconic Rock symbol has stood for strength, stability,
expertise and innovation for more than a century. For more
information, please visit news.prudential.com.
Wellthy is a caregiving concierge service for families with
chronic, complex and ongoing care needs. Wellthy offers a robust
caregiving platform and personalized support to help families
tackle the logistical and administrative tasks of caring for the
ones they love, including themselves. For more information, please
_________________________________ 1 Financial wellness content,
tools and solutions are provided through Prudential Workplace
Solutions Group Services, LLC (“PWSGS”). PWSGS is a subsidiary of
Prudential Financial, Inc. PWSGS is not a licensed insurance
company, does not provide insurance products or services, and does
not provide investment or other advice. Access to Wellthy
Caregiving Services is separate from and is not contingent upon
participation in a Prudential Group or Retirement service or
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MEDIA: Monique Freeman 973-634-8325
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FOR WELLTHY Nadia Damouni 646-818-9217