Employees generally like the employer-sponsored group health insurance. They appreciate the assistance given with medical expenses, particularly catastrophic bills. Employees grumble, however, about the deductibles. The deductibles in most employer-sponsored group health insurance policies have been rising steadily over the last few years. They’re at a point where the deductible can be a threat to financial wellness.
Deductibles Can Grow Medical Debt
An employee must use all the deductible before the full health benefit can be utilized. It is why those who file for bankruptcy due to medical debt ordinarily have health insurance; the deductible stands in the way of the health benefit.
Major medical conditions can result in treatment overlapping the years. What it means is that a person who pays the deductible completely in one year must start again the following year to pay the deductible. Medical debt in the tens of thousands of dollars is possible. Countrywide Pre-Paid Legal Services knows the impact this can have on a person. Our financial wellness program addresses medical debt assistance.
Budget Analysis Helps
Countrywide makes use of a network of certified financial counselors. They are familiar with the emergencies ordinary people encounter. A budget analysis is an essential first step.
A counselor must know where the money is coming from and what expenses are being paid. That way, solid decisions can be made about deductible management. A financial wellness plan member must understand that healthcare facilities are willing to work with them for debt payment. It is not hard at all to create a monthly payment plan.
The budget analysis information indicates where possible expenses can be reduced, freeing up money to pay off the deductible debt. Granted, it may take years to fully pay off the debt, but this is better than being confronted with the possibility of serious financial problems.
Regrettably, the deductible problem may have gotten out of control and simple budget analysis might not be sufficient. Countrywide offers a Debt Management Plan for extreme cases. It allows for additional counseling and other services. It will cost a little bit more but for some people it is the best possible option out of a serious mess. The advice that a Countrywide counselor offers and the strategy that is developed are means with which a financial wellness plan member can get out of a very difficult problem.
Choice Makes Our Benefit Efficient
Organizations expect employee benefits to be cost-effective. It is important that as many employees as possible receive some form of assistance. We optimize our financial wellness programs by letting clients choose what benefits will be part of the plan.
The intent is that only those options which are going to be used by employees will be included. Medical debt assistance is one possibility, and help with college loan payments is another. We back up the selections with some of the best service in the industry. Countrywide’s reputation is built on quality, and we expect the best from those counselors who work with us.
Medical costs will surface from time to time. The health insurance plan an employer offers can cover much of the cost, but deductibles remain. Countrywide helps people better manage the payment of the deductibles, making certain that the cost does not result in a budget crisis.
The same concern about financial wellness of a plan member is evident in all our options. Countrywide provides assistance that employees expect from their employers. We have the solutions for real problems folks encounter every day. We encourage decision-makers to consider looking at our benefits, including our group legal plans. Each one is backed up with the guarantee of highly professional service from our counselors and the Countrywide staff. Please do contact us at your earliest convenience and find out more about the Countrywide advantage.