Available to members in need of care themselves or when supporting others, Guardian becomes the first insurance carrier to include caregiving support services in employer-provided disability insurance
NEW YORK, June 10, 2024 /PRNewswire/ — The Guardian Life Insurance Company of America® (Guardian) and Wellthy today announced a groundbreaking new effort to help provide caregiver support services to Guardian members with employer-provided disability insurance benefits. Designed to support caregivers’ well-being at all phases of life and regardless of whether they are caring for themselves or others, the partnership will offer Guardian members access to comprehensive and customized support. Through the collaboration, available support services for members include access to a caregiving concierge, digital planning tools, and the Wellthy Community, an online peer-to-peer space for family caregivers to connect and exchange knowledge.
Over recent years, Guardian found that caregivers experienced a three-fold increase in the amount of time they spent on caregiving-related responsibilities—from 9 hours a week in 2020 to 26 hours a week in 2023. In its report, Standing Up and Stepping In, Guardian also discovered that these responsibilities are a primary contributor to declining caregiver well-being, with caregivers self-reporting the lowest overall well-being among all Americans. Coupled with the fact that more working Americans are taking on caregiving responsibilities than ever before, caregivers may face a heightened risk of physical, financial, and mental issues, which can lead to decreased productivity, absenteeism, and the need to take a leave of absence from work.
The collaboration between Guardian and Wellthy aims to address these very challenges and the unrelenting demands on working caregivers. With this partnership, Guardian becomes the first carrier to include caregiving support services in an employer-provided disability insurance policy. Initially offered to new members, individuals who are caregivers or require their own care can use Wellthy’s services at every stage of their care journey, regardless of whether they are caring for themselves, their spouse, children, parents, or a member of their chosen family.
“Among members and our own colleagues alike, we’re increasingly seeing that more are taking on caregiving responsibilities, often prioritizing those they are caring for over their own well-being. While providing care is a noble act, it’s having real well-being consequences and ultimately impacting workplace productivity. Our study found that close to half of all caregivers report low well-being—32% more than non-caregivers,” said Matt Darula, Head of Product and Digital Offerings at Guardian. “Our commitment to supporting wellness is ironclad and we’re exploring a variety of partnerships, services, and offerings to inspire member well-being. As we do so, addressing the burden faced by caregivers is one of the most meaningful ways we can help make progress against that commitment.”
For Wellthy, the partnership with Guardian expands on their mission to help caregivers navigate care with confidence. To date, the company has helped caregivers with more than 130,000* care-related projects, ranging from providing conversation guides to use with loved ones to vetting potential residential facilities and finding specialist services. All care-related projects are supported by Wellthy’s team of care experts comprised of social workers, nurses, mental health specialists, and social service professionals.
According to Wellthy, the depth of this work has given the company a first-hand look at the potential solutions employees may need today to help ensure they are thriving at work, while also being able to take care of their own well-being and loved ones. Among caregivers who have utilized Wellthy’s care support services, 90% reported being more engaged and less stressed at work, 66% missed fewer meetings, and 33% were able to avoid taking a leave of absence from work*.
“Family caregivers are unsung heroes, waking up every day and taking on responsibilities related to an ever-growing spectrum of care. Caring for loved ones is fundamentally one of the most human things we do, and yet the complexities, stress, anxiety, and fragmentation of navigating care today causes major disruption in the lives of working caregivers,” said Lindsay Jurist-Rosner, CEO and Co-Founder of Wellthy. “Our partnership with Guardian is a significant step forward in providing comprehensive support to caregivers in our workforce, helping ensure they have the resources and guidance they need to thrive both at work and at home.”
As part of its commitment to being an employer of choice and supporting their own caregiver colleagues, Guardian also provides Wellthy’s services as a complimentary benefit for all of the company’s U.S. part-time and full-time colleagues. This initiative complements Guardian’s existing efforts to support working caregivers, including its CARE and additional Employee Resource Groups (ERGs), flexible work arrangements, and childcare benefits. Made available in March 2024, 35%** of Guardian colleagues with a caregiving need have since utilized Wellthy’s services.
For more information about the partnership between Guardian and Wellthy, please visit Guardian’s disability insurance and caregiving services page.
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About Guardian
Guardian makes a difference in the lives of people when they need us most. With over 160 years of stability and fiscal integrity, we are a trusted resource to generations of families and business owners, inspiring well-being and helping build financial confidence. Today, we stand behind millions of consumers, helping them prepare and plan for a bright future for themselves and their families. We help business owners care for their employees. And we help people recover and thrive in times of unexpected loss. As a modern mutual insurance company, we believe in driving value beyond dividends. We invest in our colleagues, are building an inclusive and innovative culture, and are helping to uplift communities through thoughtful corporate impact programs. Guardian, which is based in New York City, is a leading provider of life, disability, dental, and other benefits, and has received accolades for its culture and service. Our colleagues and financial professionals serve with care and experience, and our commitments rest on a strong financial foundation, which included a 2024 dividend allocation of $1.398 billion – the largest in the company’s history. For more information, visit guardianlife.com or follow us on Facebook, LinkedIn, and YouTube.
About Wellthy
Wellthy is a work-life company revolutionizing the way families access and afford care for themselves and their loved ones. Wellthy is the leading platform helping families balance work and care responsibilities through a combination of human expertise and precision technology. Wellthy provides personalized support to families, individuals, and employees so that they can take care of their own health, reduce stress, navigate a fragmented and complex healthcare system, save money, and stay engaged in their work and their lives while taking care of their loved ones. Millions of people have direct access to Wellthy through some of the largest and best-known health plans and employers, including Best Buy, Cisco, and Hilton. For more information, follow Wellthy on LinkedIn here.
Disclaimer
Guardian® is a registered trademark of The Guardian Life Insurance Company of America. Copyright © 2024 The Guardian Life Insurance Company of America.
Unless otherwise noted all data is sourced from the Standing Up and Stepping In report 2023
* Indicates Wellthy internal data, as of May 2024
**Indicates Guardian internal data, as of May 2024
Wellthy, Inc. (“Wellthy”) is a vendor to The Guardian Life Insurance Company of America (“Guardian”). Wellthy and Guardian are not affiliated entities. Wellthy provides a care coordinator to integrate separately retained caregiver resources (e.g., senior care, childcare, etc.) for the benefit of a member or their permitted dependents. (“Services”). Guardian does not control or provide any part of the Services and does not bear any liability for their provision. This informational resource is not a contract and is for illustrative purposes only. Only the policy contains applicable terms. Guardian and Wellthy reserve the right to discontinue Services at any time without notice. Services may not be available in all states. ©2024 The Guardian Life Insurance Company of America.
Dividends are not guaranteed. They are declared annually by Guardian’s Board of Directors. The total dividend calculation includes mortality experience and expense management as well as investment results.
Financial information concerning Guardian as of December 31, 2023, on a statutory basis: Admitted assets = $80.3 billion; liabilities = $71.2 billion (including $58.0 billion of reserves); and surplus = $9.1 billion.
SOURCE Guardian
