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MyMichigan Health Partners With Rain to Offer Responsible Earned Wage Access
MyMichigan Health partners with Rain to bring responsible Earned Wage Access to over 10,500 employees, helping reduce financial stress.
MyMichigan Health, a non-profit health system headquartered in Midland, Michigan, is a leader in providing award-winning, high-quality care to the 26 counties it serves.
Recently, MyMichigan Health partnered with Rain to offer Earned Wage Access (EWA) to their more than 10,500 employees, starting on October 29th. Our EWA platform provides financial flexibility, helping employees manage their day-to-day needs and emergencies with access to their earned wages.
To ensure that employees use the EWA benefit in a responsible way, we provide the tools and controls for MyMichigan Health to limit access to the offering within reasonable levels. Rain enables employers to define not only what percentage of employee earned wages are available through the Rain app, but also to define how many times per pay period an employee can access their available balance.
The convenience of early wage access:
- Encourages employees to take on additional shifts
- Enhances job satisfaction and retention
- Facilitates better budgeting
- Minimizes costly loans and banking fees
- Offers insights into daily earnings and account balances
Rain makes EWA available at no cost to employees with a standard 1-to-3-day ACH transfer, while those opting for same-day fund access incur a nominal fee.
“The process for our employees will be simple,” said Julie Ward, Ed.D., senior vice president and chief human resources officer, MyMichigan Health. “The product requires no changes to payroll operations or timekeeping. And, our employees can easily opt-in by downloading the Rain app or accessing it via the website, where they can view earnings, transaction history, and initiate fund transfers. We believe this will be well received by our employees and we’re pleased to offer it to them.”
We’re excited to partner with MyMichigan to support their employees with a benefit that will help alleviate employee financial stress at work, which in turn helps employers experience reduced turnover, increased productivity, and a boost in job applicants.
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