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stockfresh_1701311_stethoscope-and-dollar_sizeS_f73430-300x200COVID-19 has alerted everyone to the importance of personal health. Folks are wearing masks and practicing social distancing to avoid infection. These new habits are good developments and employees are taking better care of themselves. One critical activity everyone should do is prepare financially for any medical bills.

Guarding Financial Wellness

We are not suggesting employees will come down with a case of coronavirus. There can be some sizable future medical bills they have not adequately prepared for. Deductibles of $5000 or more will challenge budgets. Surgeries and medical treatments may overlap a year, causing sizable debt. Employers could use some guidance preparing for medical procedures, especially those working from home. Countrywide Pre-Paid Legal Services has a financial wellness plan that assists in financial preparation. Continue reading

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1Working from home does have great benefits. Commuting and daycare costs are drastically reduced, and irritating office politics is gone. Organizations are noticing increased productivity but that could be temporary. Some intangible benefits of the office are missing and need replacement.

 

The Informal Communications Network

 

People chat and share information in the office. Experiences one employee has are shared with another and that can help the second person. These informal communications include how to deal with government agencies. Loss of break room sharing takes away an essential source of information. An individual does not know how to work with bureaucrats and fellow employees are there to give advice. The stress of not knowing what to do can affect performance. Group legal plans might offer help and Countrywide Pre-Paid Legal Services provides guidance on how to deal with the government. Continue reading

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stockfresh_181218_last-will-and-testament_sizeS_72a2cb-300x225Stoics will talk about “memento mori.” (remember death) to remind people to make the most of living. It is taking a more dramatic meaning to the era of coronavirus. Employees recognize that mortality could come with a sneeze. More want to take precautions to protect their loved ones. Group legal plans offer to draft simple wills as a benefit option. It is an excellent pre-paid legal services benefit.

 

Protecting the Estate

 

Folks may think they have little to leave behind and they are usually wrong. Anyone who owns a house or has a company-provided life insurance policy has reportable assets. Probate court moves quickly if there is a will. Everything slows to a crawl when there is no will. Continue reading

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stockfresh_7102501_college-debt_sizeS-300x300Employees are starting to get back to work. Quarantines are gradually being lifted as business establishments are allowed to reopen. It is a great relief for many people, but there are still some issues to be addressed. Financial wellness is still resting on unstable grounds.

 

The College Debt Is Not Going Away

 

Many young employees financed their college years through substantial loans. They are now faced with monthly bills that must be paid eventually. Some will use forbearance but that only delays things. The size of many college loan debts is equal to a home mortgage. It is tough for many young people. Continue reading

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stockfresh_356578_hand-with-help-flag-sticking-out-of-papers_sizeL-201x300Everyone loves the idea of working from home. The pandemic has convinced management that more people can be remote workers and do not need to be at the office physically. It is great until the honeymoon is over. Situations change after that.

 

Stress and Depression Issues

 

Working from home means the individual creates the work structure. That is radically different from workplaces with clearly defined borders. Schedules are no longer set, and everything is fluid. It can take a while to get used to the new normal.

 

Remote employees have the stress of creating their workspace and hours. They do not have the traditional human contact of the office and feel isolated. It can result in depression that can affect work quality. Continue reading

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stockfresh_3231743_man-putting-coin-into-small-piggy-bank_sizeS-300x200COVID-19 is making dramatic changes in the workplace. The old cubicles might replace open space offices as organizations try to reduce the chance of viral infection. Work from home is no longer something to think about; it is now becoming a corporate reality. The opportunity for people to work from home provides a lot of benefits for everyone. Smart employers are going to look beyond the commonly discussed opportunities for home-based work. They look at ways to use employee benefits to make working from home more enjoyable and increase the chances of higher productivity as a consequence. Continue reading

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stockfresh_636353_stethoscope-laying-on-stacks-of-money_sizeS-300x200Employers have been wonderful in helping their employees during this time of national crisis. Many organizations decided to pay the full premium on the group health insurance, giving their hard-working staff some relief from financial obligations. It is great to see employers who genuinely care about their employees.

 

These are not easy times for anyone. Medical conditions may be causing considerable strain on a person’s budget. Deductibles and copayments on major medical treatments can cost thousands of dollars. The expense can drive a person’s anxiety through the ceiling. Continue reading

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stockfresh_3091602_good-service-makes-the-difference-chalk-illustration_sizeS-300x168The quarantines imposed by the coronavirus pandemic have  given everybody a chance to reflect on their lives and changes needed. Some legal issues that have been placed on the back burner for too long are now becoming urgent. There is a mood of unfinished business among many employees. Group legal plans provide services to help.

Some of the Issues

A group legal plan can successfully resolve several situations that are everyday legal matters. Continue reading

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stockfresh_3802975_legal-advice-road-sign-illustration-design-over-a-white-backgrou_sizeXS-300x140The coronavirus pandemic is an emergency that is causing citizens to turn to government agencies for help. The anxiety these folks have is only increased by the frustration they experience in dealing with public bureaucracies.

Attempts were to make things easier and the CARES Act is helping with unemployment compensation filing. However, there are still rules and regulations that government agencies are required to follow. Public servants are not deliberately unresponsive, but they must follow mandated procedures. Group legal plans need to be able to help people deal with the red tape. Countrywide Pre-Paid Legal Services offers help with government agencies as a benefit option.

Dealing with Delays

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stockfresh_1104622_falling-credit-cards_sizeS-300x200The entire economy is still dealing with the coronavirus pandemic. Furloughs are everywhere and unemployment checks do not always cover the bills. Times like these are when people turn to their credit cards. We recognize this is only natural, but it can be dangerous.

An individual’s financial wellness is threatened during times of economic slowdown. Decisions need to be made that can be drastic. Credit cards are sometimes an easy way out. An individual pays the bill on credit and settles the balance later. There is a risk involved.

Credit card balances must be paid and running up a massive debt balance is risky. Some do not realize this, but the interest rates charged on credit cards are double-digit numbers. Failure to pay the minimum on time adds a penalty to the balances. An over-reliance on credit cards may lead to domestic chaos. The financial wellness of a hard-working employee can come crashing down.

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