Helping Workers Improve Their Fiscal Fitness Pays Big Dividends, Says LifeCare^®

WESTPORT, Conn., May 3, 2005 – When it comes to boosting employee satisfaction and commitment levels, financial incentives are hard to beat. But what's an employer to do when handing out raises and bonuses simply isn't feasible? LifeCare^®, Inc. has the solution: professional financial counseling services. These services are extremely cost-effective to deliver and they can make a big improvement in the lives of employees and their families, says LifeCare president and co-founder, John Place.

“Think about it. Raises and bonuses have a limited or one-time impact. Professional financial counseling, on the other hand, gives individuals knowledge and skills they can use for a lifetime to reduce monthly bills, repair bad credit, save for a child's educational needs, plan for retirement, and much more,” says Place. The upside of these services for employers, he adds, is that they cost just pennies per employee to deliver, they can do wonders to raise an organization's overall satisfaction and commitment levels, and recruiting and retention efforts are strengthened, as well.

Place says the need for financial counseling among America's workforce has never been greater. He cites the spate of recent media reports and polls that reveal millions of workers don't trust themselves to invest their money properly and millions more have no clue how they'll fund their retirement. Add to this the Census Bureau's report that 15 percent of all households have zero savings or are in debt and the message becomes clear: workers everywhere would benefit from some expert financial guidance.

Covering the Basics—and Beyond
Some of the nation's workforce might already have access to financial services through their employer's work/life program and not even know it. “High quality programs like LifeCare's cover many basic financial needs,” Place says. LifeCare, for example, offers employees of its client companies access to financial counselors who provide up to three free 30-minute telephonic consultations per person, per year. Counselors assist callers with credit repair, debt management and debt consolidation—the top three financial concerns among LifeCare's client base. In addition, the company provides information and referrals to help individuals with budgeting, home buying, estate planning, retirement, etc.

LifeCare also offers extended and premium financial service that deliver more extensive assistance. These services include in-person financial planning assistance (to address investing, college planning, home purchases, retirement planning, and more); the preparation of a family budget; and even discounts on fee-based financial planning services that employees might seek out on their own.

“Really, people everywhere need these types of guidance and counseling services because they just can't seem to manage their finances effectively on their own,” Place states. “Department of Labor statistics show that disposable personal income is at an all-time high since 1980 but savings are at an all-time low. People need help. And employers who give it to them will reap the rewards of loyalty and satisfaction for a long time to come.”

Notes to Editors

John Place is available for interview.

About LifeCare^®, Inc.
LifeCare is one of the largest privately owned employee benefits organizations in the U.S. and the exclusive provider of Life Event Management^® Services. With more than 20 years of experience in delivering highly personalized counseling, education and referral services, LifeCare helps employees manage the day-to-day challenges of their lives. In turn, LifeCare helps employers improve employee commitment, recruitment, retention and workplace productivity. LifeCare currently serves 1,500 client companies with 4.5 million individuals within health plans, governmental agencies, unions and corporations. For more information, visit www.lifecare.com.

Media contact: Jim Derivan
LifeCare, Inc.
pr1@lifecare.com
203-291-4196