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Press Release

Voya Financial announces collaboration with Wellthy to provide solutions for caregivers in the workplace

Issued by Voya Financial

May 10, 2019

Voya is collaborating with Wellthy, a health care concierge service focused on helping families care for loved ones with complex, chronic or ongoing care needs (e.g., a parent with dementia, child with autism, spouse with Parkinson's). Through our Voya CaresĀ® program, which helps people with special needs and their caregivers plan for a secure financial future, Voya will team up with Wellthy to provide support and resources to help working caregivers save time, money and stress. Voya's Retirement and Employee Benefits businesses will offer Wellthy's services to its current and prospective workplace clients as an added benefit they can provide to their employees.

    "One in five Americans -- approximately 66 million people -- are caregivers in the U.S.2 Through our Voya Cares program, we have started to shine a light on the unique issues that people with special needs and disabilities, including their caregivers, face every day," said Heather Lavallee, president of Tax-Exempt Markets for Voya's Retirement business.

    "Our research through Voya Cares shows that many employees who serve as caregivers are struggling to balance their responsibilities in the workplace and at home -- by teaming up with Wellthy, we can help employers and employees address this pressing need. Additionally, this collaboration with Wellthy is a natural extension of Voya Cares and our broader mission to help all Americans plan, invest and protect their savings so they can retire better," added Lavallee.  

How Wellthy Works

For an employee with an aging parent, child with a disability, or his or her own complex condition, managing care can become a second, full-time job. Wellthy assists families by matching them with a dedicated Care Coordinator who can help minimize the logistical and administrative responsibilities often experienced by caregivers. These Care Coordinators, many of whom are social workers by background, are the skilled and knowledgeable workforce that helps families manage and navigate care. Wellthy Care Coordinators guide families through a care plan, advocate for loved ones and tackle tricky tasks across medical, in-home, financial, legal, housing, and social and emotional needs. For example, they help find medical providers, schedule appointments, contest medical bills and claims, find the right in-home aide, arrange a move to a residential care facility and much more.

Through the Voya Cares program, Wellthy's services will be offered to Voya's Retirement and Employee Benefits workplace clients as an additional benefit they can provide to their employees for a fee. The fee for Wellthy's services will be paid for by the employer at a preferred price negotiated by Voya. If offered as an employer-paid benefit, there will be no cost for caregiving employees accessing Wellthy's services. Voya currently offers Wellthy's services free of charge to its nearly 6,000 Voya employees. Voya is also considering expanding Wellthy's offering to Voya Investment Management clients in the future.

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Editor's note: This press release has been issued by the company named above, not BenefitsLink. Reliance on information in this press release might be prudent only after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by BenefitsLink.

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