Close
Updated:

Debt Can Harm Financial Health Millennials Appreciate Any Advice

It is almost ironic how a person’s financial wellness is affected by health. What appears to be a robust bank account, full of savings, can be depleted by one hospital bill. It can come as a shock.

People take for granted that their medical coverage will take care of much of their bill and that is often true. Nevertheless, there is deductible, and deductible amounts have risen steadily over the last few years.  Domestic accounts can go into a tailspin due to a medical procedure or therapy. Countrywide Pre-Paid Legal Services understands the threat that medical bills have to the health of a person’s finances. We have a program intended to provide necessary advice.

Any correspondence from a health insurance company can frighten a person. An Explanation Of Benefits (EOB) is not a bill but some people think it is. Reading causes a certain amount of worry until the individual finally calms down. The anxiety is the result of not having enough information

We Educate Our Plan Members

Fortunately, Countrywide is committed to educating financial wellness plan members. Our nationwide network of certified counselors has considerable expertise in managing debt, including debt which is incurred by a hospital bill. A plan member can sit down with a counselor and have that professional explain the options available to help in for the health treatment.

A very simple way to handle medical debt is to negotiate the payments. Countrywide counselors will show people how to request a payment plan. The process is made easier because of the Countrywide professional’s advice.

A challenge any employee might have in paying medical bills is a poorly designed family budget. This person may not know ways to cut costs in certain areas or how to economize. The Countrywide counselor understands the confusion a person may have. That professional will explain ways to reduce other expenses, meet the required medical payments, and may even have money set aside for savings. A session with the Countrywide counselor is definitely an educational experience.

Advice is Given with Respect

No one should feel embarrassed. Countrywide is concerned with solving problems and not making anyone feel stupid. We expect our counselors to show respect and courtesy to all financial wellness plan members. The intent is to come up with reasonable solutions to pay what appear to be staggering bills. Countrywide guidance is a sensible way to solve the problem.

Financial Wellness Benefits Are in Demand

This is a benefit gaining in popularity and organizations need to consider including it in any benefits package. Countrywide firmly believes that the advice our counselors will give can resolve many stressful money problems.

Organizations know their workforce better than we do. We ask our clients to decide what options are going to be part of the overall financial wellness plan. The selection will be part of the final plan document.

An employer whose workforce consists primarily of Millennials might not think that medical assistance is a necessary option. Nevertheless, even younger people can get sick and get caught in a situation of a catastrophic medical bill. The hospital stay may require the patient to pay entire deductible, and that can place an employee in serious debt. Countrywide assistance can prevent a disaster from happening. Nevertheless, we will respect our client’s decision. Every option in the financial wellness plan is backed by our superior member services and effective administration.

Progressive employers understand the importance of responding to the current needs of employees. Millennials and other associates will appreciate knowing executives are concerned about their financial welfare. Countrywide would appreciate the opportunity to explain what we are offer. All our options can be used to resolve pressing situations. We encourage human resources directors and other decision-makers to contact us about our benefits.

Contact Us Now