Canada (EN)
Financial stress is no longer a side issue for employers. When employees face an unexpected expense, medical bill, car repair or household emergency, the financial pressure can follow them into the workplace. It can affect focus, productivity, retirement readiness and overall wellbeing.
A recent research report released by SHRM and Raymond James found 73% of workers experience financial stress at least sometimes; for 39%, it’s frequent or constant. Even the 32% of workers, who are considered to be in a high financial wellness category, report financial stress is affecting their ability to focus at work.1
Industry: Third largest integrated health care delivery and financing system in the nation
Global workforce: 35,000+ employees
Headquarters: Pittsburgh, Pennsylvania
Solutions: Financial wellbeing
That is why more employers are looking beyond traditional financial education and adding practical loan alternatives to their financial wellbeing strategy. The goal is simple: give employees access to a responsible option before they turn to high-cost debt, early retirement withdrawals or 401(k) loans that can create longer-term financial setbacks.
“At Highmark Health, we recognize that true health encompasses financial stability just as much as physical and mental wellbeing. As an organization dedicated to health, we understood that we couldn't separate an employee's financial reality from their overall health and productivity. Our leadership mandated a shift beyond traditional financial education toward actionable, responsible solutions. Partnering with Alight and Kashable allows us to give our people practical, safe alternatives during times of need, ensuring they can navigate unexpected hurdles without compromising their long-term financial security.”
A. Christine Walter, ASA, EA Director, Time-off, Leaves & Retirement Programs,
Highmark Health
Why employers are adding loan alternatives
For many organizations, the need starts with a familiar pattern: employees need short-term financial help, but the options available to them are often costly, confusing or harmful to long-term savings.
Employers are adding loan alternatives to help address several common challenges:
- Reduce reliance on 401(k) loans and hardship withdrawals
- Provide a more responsible alternative to high-interest borrowing options
- Support employees who may not qualify for traditional credit or emergency savings resources
For Highmark Health, the decision to explore a loan alternative was part of a broader effort to support employees with real-world financial needs, not just long-term planning education.
At the same time, they were looking for a solution that could:
- Deliver meaningful employee value
- Be easy for employees to access
- Integrate with their existing benefits ecosystem
- Support long-term financial wellbeing goals
Why Kashable fit the strategy
Kashable is a financial technology company that provides employer-sponsored financial wellness solutions, including low-cost personal loans offered as a voluntary workplace benefit.
Working with Highmark Health, Alight Solutions was able to provide thoughtful insight into participant behaviors and use data to help identify where employees may need more practical financial support.
As Highmark Health’s defined contribution administrator, Alight understood the organization’s goal of strengthening employee financial wellbeing and helped connect those insights to a solution that could support both immediate financial needs and long-term retirement readiness.
Highmark Health initially had questions about adopting a 401(k) loan alternative program. Through their partnership, Alight and Kashable helped build confidence in the solution by demonstrating Kashable’s credibility, employee-centered approach and commitment to supporting Highmark Health employees. Because Kashable is seamlessly integrated into Alight’s platform, it also gave Highmark Health an easier, more practical alternative to consider for their participants within the broader benefits experience.
Ultimately, Highmark Health selected Kashable to support its financial wellbeing strategy because the program matched the practical role the organization wanted these benefits to play: helping employees manage immediate financial needs without compromising long-term financial stability. Additional value included:
- Employee-centered experience. Employees gain access to a responsible loan option designed for short-term financial needs, with a process that is easier to understand than many traditional borrowing options.
- Employer-aligned approach. The program supported Highmark Health’s goal of offering benefits that address real employee challenges, including financial stress that can affect wellbeing, work and retirement readiness.
- Seamless integration. The solution could be introduced alongside existing financial wellbeing resources, positioning it as part of a broader support system rather than a standalone product.
- Trusted partnership. The collaboration between Alight and Kashable gave Highmark Health confidence that the program could be clearly positioned, effectively supported and connected to the broader benefits experience.
Early observations and results
Initial feedback and data have provided valuable insights into employee interest and engagement.
Through the first quarter there were 319 loans. Here are some of the top purposes for these loans:
- Pay down debt (39%)
- Personal/family/household expenses (29%)
- Car repair/purchase (12%)
- Moving expense/relocation (6%)
- Medical expense (5%)
"Seeing 319 employees utilize this resource in just the first quarter—with 39% using it specifically to pay down existing debt—validates that we are addressing a very real and pressing need. When our people have access to responsible, low-cost alternatives to manage high-interest debt or unexpected life expenses, they can navigate challenges without derailing their long-term financial security. This strong early adoption confirms that the benefit is truly resonating with our workforce.”
A. Christine Walter, ASA, EA Director, Time-off, Leaves & Retirement Programs
Highmark Health
Lessons learned
As organizations continue exploring loan alternatives as part of their financial wellbeing strategy, Highmark Health has identified several key takeaways:
- Employees need support for both immediate financial pressures and long-term financial goals
- Loan alternatives can help reduce reliance on higher-cost debt or retirement plan loans
- Communication is critical so employees understand the benefit before they are in a financial pinch
- Financial wellbeing works best when practical tools, education and access are connected
Looking ahead
Financial wellbeing strategies are becoming more practical and more personal. Employers are not only helping employees plan for the future; they are also giving them better options for the financial moments that happen right now.
For Highmark Health, adding Kashable through the Alight partnership was part of that shift. By offering a responsible loan alternative within its broader benefits ecosystem, the organization created another way to support employees, protect long-term financial goals and strengthen its overall wellbeing strategy.
“Looking ahead, Highmark Health is committed to continuously evolving our wellbeing strategy to meet our people's changing needs. By building on the strong early success of our partnership with Alight and Kashable, we plan to further expand these practical resources, ensuring our workforce has the comprehensive support they need to achieve lasting financial health and holistic wellbeing.”
A. Christine Walter, ASA, EA Director, Time-off, Leaves & Retirement Programs
Highmark Health
1- SHRM, "SHRM and Raymond James Research Reveals Why Financial Wellness Must Be a Business Priority," SHRM, June 17, 2026, https://www.shrm.org/about/press-room/shrm-and-raymond-james-research-reveals-why-financial-wellness-m.
