Easier financial care with new myVoyage workplace benefits and savings connected digital platform
New myVoyage personalized financial guidance experience provides employees with easy access to workplace benefits, savings and personal accounts in one application
Employees can now boost their personal financial care, with myVoyage — a new and first of its kind personalized financial guidance and connected workplace benefits digital platform.
Offering a “one stop” solution, myVoyage will provide individuals with a complete view of their financial picture, inclusive of workplace benefits and savings accounts along with the integration of external accounts such as personal banking and credit accounts to help better manage health and financial wellbeing.
First launching via mobile app, Voya’s myVoyage digital platform offers a consolidated view using data-driven insights to provide personalized guidance to help individuals make progress toward achieving their financial goals.
Over half (56%) of employed Americans are extremely or very interested in a “one-stop” mobile app that provides a consolidated view across all of their health and financial accounts.1
6 ways myVoyage helps individuals optimize and connect their workplace benefits, retirement savings and other household accounts
- A consolidated account view under one login, inclusive of one’s workplace savings accounts and external accounts — which could include: retirement plans such as 401(k) and non-qualified accounts; health savings accounts; and medical/dental insurance — and the ability to connect outside benefits and accounts such as banking and savings, brokerage accounts, credit cards and loans.
- Holistic financial wellness support, including the opportunity to view where individuals stand across all accounts, set and track goals (such as saving for college or paying off debt) with insights on accounts such as spending limits, savings reminders and deposit summaries — offering support along the way.
- Benefits enrollment guidance with the myVoyage personalized enrollment guidance experience, including the ability to optimize one’s workplace benefits options and costs as well as receive personalized guidance on savings and coverage based on plans that are most appropriate for an individual’s needs.
- Access to medical claims to track out of pocket expenses and get reminders for preventative care.
- Personalized nudges and actions, including specific steps, tools and resources to help individuals navigate different life stages and events including everything from daily spending to having children or preparing for retirement.
- Professional resources, including the ability to refer individuals to a financial professional for additional personalized advice and guidance.*
Driven by insights derived from behavioral finance research through the Voya Behavioral Finance Institute for Innovation, the launch of myVoyage also builds on Voya’s recent introduction of myVoyage personalized enrollment guidance, an integrated and holistic benefits selection experience which offers personalized digital guidance to help employees optimize their household spending across health insurance benefits, emergency savings and saving for retirement. Providing an integrated platform that not only helps individuals make benefits decisions, myVoyage will offer the next evolution to manage those benefits and individuals’ finances throughout the year.
Connecting workplace benefits and savings
“At Voya, we’ve long recognized the value that workplace benefits and savings provide in helping individuals achieve their broader health and wealth needs. But we also recognize that this is just one part of someone’s financial picture and that integrated and coordinated experiences are becoming increasingly important to be able to support the evolving needs of individuals and their households,” said Heather Lavallee, president and CEO-elect; CEO, Wealth Solutions, for Voya Financial. “As a leader in both workplace savings and benefits, the launch of myVoyage represents the next evolution of our workplace growth strategy leveraging our leading data and digital capabilities along with our expertise across health, wealth and investment solutions. Through this connected experience, we’re making it easier for individuals to optimize their savings potential and put the right protection vehicles in place — ultimately, allowing them to be able to achieve a healthy balance of living for today, preparing for tomorrow and feeling confident about their future.”
“When enrolling in their workplace benefits and throughout the year, we often find there is a disconnect for individuals when it comes to both their workplace benefits and savings decisions. This is why at Voya, our personalized digital-guidance experiences are designed to help employees make more-informed decisions with a synchronized view of their whole financial life,” said Rob Grubka, CEO, Health Solutions, Voya Financial.
“The launch of myVoyage will allow us to truly evolve how we support individuals by making it easier to both choose and use their benefits through an integrated and hyper-personalized experience. From setting emergency savings goals to tracking health care spending and receiving insights on how to take full advantage of the benefits they’ve enrolled in; myVoyage will enable individuals to make more-informed decisions with their complete financial picture in mind. By looking holistically across benefits, we can help employees better utilize their benefits and save more effectively today to better improve confidence in their future, ” added Grubka.
Employers and financial professionals interested in receiving a demo of myVoyage, should contact their Voya Representative.
1. Results of an Ipsos survey conducted March 29-30, 2022, on the Ipsos eNation omnibus online platform among 1,000 adults aged 18+ in the U.S., featuring 520 working Americans.
*Financial professionals are investment advisor representatives and/or registered representatives of, and securities and investment advisory services are offered through Voya Financial Advisors, Inc. (member SIPC). Investment advisory services are only offered through investment advisor representatives of Voya Financial Advisors.
For educational purposes only. Each plan must consider the appropriateness of the investments and plan services offered to its participants.