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stockfresh_3266726_benefits-concept_sizeS_39f284-300x200Changes in the workplace were going on before the pandemic. A greater concern for employees and the need for emotional intelligence are becoming more essential as organizations adapt to a new normal. It is all for the better, but changes must have value to be accepted.

Additional benefits are standard ways to improve employee morale. The best ones will increase retention, encourage greater loyalty, and foster productivity. Management must decide what the employees want and need to get the desired full value from any employee benefit. Group legal plans do both.

Granting Employee Wishes.  Continue reading

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stockfresh_636353_stethoscope-laying-on-stacks-of-money_sizeS-300x200Deductibles are renewed on January 1 for most medical plans. This means an employee will have to pay as much as $5000 out-of-pocket before the full medical benefit kicks in. Anyone who starts an expensive medical treatment that overlaps the years pays the 2020 deductible and must pay the 2021 deductible. This is how people run into medical bill difficulties.

A Sense of Panic

Medical bills are a different breed of cat. A person receives an Explanation of Benefits (EOB) and learns the magnitude of medical attention costs. The EOB, by the way, is not a bill. The figures, though, are still frightening. The anxiety and stress a person feels begin when the collection agencies start calling. Hospitals will send unpaid invoices to the collection agencies, and these will how the person for payment. The medical bills can be thousands of dollars. An individual begins to worry about financial wellness and does not know how to protect it. Continue reading

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stockfresh_8337903_senior-couple-pointing-to-a-distance_sizeS-300x200An organization employs people from different demographics. Each employee has a set of skills and works hard to meet goals. Senior employees, those over age 50, bring a wealth of knowledge gleaned from experience. Management needs those people to be productive, and smart executives try to remove any roadblocks. Older associates do have anxieties that center on financial wellness. The money issues can be very distracting.

 

Major Bills and Other Worries 

 

The upcoming golden years present challenges that were not there years ago. Student loan debt is troubling if a senior employee is helping a child pay the education bill. Medical problems are covered by group health insurance, but deductibles and copayments can harm the wallet.

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stockfresh_3279849_costs-benefits_sizeS_e3a3fc-300x200Death might come in a flash or months. A cardiac arrest may leave a person in a vegetative state. That is a personal disaster, but a much more significant problem will affect loved ones.

No Communication

People must communicate their wishes to a hospital or healthcare facility. There may be treatments a person objects to, and these must be avoided. Conversely, a patient might want the procedure performed. Hospitals must keep unless healthcare providers are told to turn off life support systems, the machines keep running. That will cause a second disaster.

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stockfresh_2064336_identity-theft-word-cloud-concept_sizeS-300x300We must accept a tech reality: hacking is not going away. It is a multi-billion-dollar industry that has many players, and some might be your neighbors.

Hacking and identity theft uses all kinds of tools. It can be as simple as someone looking over your shoulder at the debit machine and memorizing your PINs. It can be as sophisticated as scaling the security walls of a Fortune 500 company. This, by the way, has happened more than once. Everyone is vulnerable. Continue reading

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stockfresh_479551_house-in-hand_sizeS-300x200It is exciting to purchase that first house. The buyers can move out of cramped apartments and into larger spaces with a yard. The new owners can put down roots and even start a family. The house is a sign of financial wellness, but caveat emptor (let the buyer beware!) is sensible advice. Too many first-time buyers will pay a premium for what they do not know.

 

Financing Is Tricky

 

A conventional bank loan is straightforward, but FHA financing requires inspections and a fair amount of paperwork. The size of the down payment will affect the monthly house bill for years to come. Continue reading

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stockfresh_548333_people-standing-around-of-money-isolated-3d-image_sizeS-300x225Remote working is the new normal for thousands of people. They are working from home and are enjoying the change of scenery. Management likes the results. Studies are showing increases in efficiency and productivity caused by working from a distance. This is a workplace condition that will not end with the pandemic. The challenge will be how to improve on those benefits. Employers can do that with the right employee benefits.

Reducing Anxiety

Change produces benefits, but remote workers sometimes feel anxiety because they are not in the office. Those informal communication networks are gone, and it is not easy to get useful information. A big concern for many employees is personal finances. Management can lower employee stress by offering a financial wellness employee benefit.

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lastwilltestament-300x200Family security should be there long after you are gone. Finances are a significant issue, and immediate access to an estate is essential. That economic priority is why group legal plans offer a chance to have a simple will drafted.

You Can Avoid the Estate Chaos

A simple will is no more than six pages long and having one is a mighty benefit for your loved ones. A will does more than distribute the money and furniture. A will can stipulate who will take care of your small children and the charities that will get a donation from your estate. This will make distribution faster and beneficiary debts like college tuition can be paid right away. Continue reading

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stockfresh_7501032_man-squeezed-between-laptop-and-rock-student-loan-debt-concept_sizeS-300x279COVID-19 has been rough on personal finances. All levels of government stepped up to help and their efforts did ease the burden. Support included stimulus checks, interest-free forbearance on federal college loans, and moratoriums on evictions. It has been great, but there is a catch: all of this will end soon.

Headaches on the Horizon

Those interest-free forbearances will stop, and the eviction holidays will be over. We know this was going to happen eventually. Unfortunately, many forgot to plan. Continue reading

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fine-print-200x300Society has an orderly process that legal documents help manage. Leases, warranties, and licenses are all papers that guide daily living. Trouble can arise when documents are misunderstood. Many group legal plans provide services for reviewing legal documents. It is an essential pre-paid legal services benefit for many reasons.

Spotting Invalid Papers

Some landlords want to avoid having to pay legal fees. Instead of paying a lawyer to draft a lease, these property owners will use a copy of an existing lease. The problem is that it may be an out-of-state document that is invalid. The lease might also insist the signer waive certain rights that the state guarantees (E. G. Arbitration clauses that are inconsistent with the state’s tenant/landlord laws). An experienced lawyer will quickly discover such issues by doing a legal document review. Continue reading