Financial wellness and retirement readiness among healthcare sector employees Impact of COVID-19
Many healthcare sector employees have made changes to their retirement saving and investments since the onset of COVID-19. Nonetheless, confidence in the amount they are saving and in the investment of their savings has been shaken.
COVID-19 and its economic consequences have impacted various elements of retirement readiness among workers in the healthcare sector—saving amounts, investment allocations, decision-making confidence, and expected retirement ages. The 2020 Healthcare Sector Financial Wellness Survey provides insights into these dynamics and other aspects of personal finance among the sector’s workforce.
The survey was fielded online from May 21 to June 11, 2020. Five occupation groups were surveyed with a total sample size of 1,203 respondents: registered nurses (300), physicians and surgeons (300), other medical professionals (300), office and administrative staff (200), and non-medical professionals (103). Responses were weighted based on Occupational Employment Statistics (May 2018), U.S. Bureau of Labor Statistics.