Organizations may be forced to make tough decisions in the coming weeks. Figures from the first quarter can make cost reductions necessary. Employee benefits will be a target for budget cuts. Employers with health benefits will use deductibles and premium increases to control the rising medical costs. Sadly, some organizations might stop providing medical coverage.
Countrywide Pre-Paid Legal Services is aware that employers might face difficult choices to maintain profitability. Medical insurance is a necessary expense because good employees will leave without it. An organization’s financial wellness will be challenging to maintain without hard-working people. We suggest that if an employer must raise an employee’s share of costs, that organization can introduce a benefit to offset these individual expenses. We have one in mind.
Countrywide Protects Financial Wellness
Countrywide has a benefit that helps employees handle the rising costs of premiums and deductibles. It is a plan that offers excellent advice on many cash management issues.
Our benefit uses a nationwide network of certified counselors. These are money professionals who deal with personal finance issues. They help plan members deal with increased benefit costs.
Countrywide wants plan members to establish a rapport with a counselor. It is easy to contact a Countrywide counselor because we have one in the community of every client. Our counselors are sensitive to the concerns of plan members. Social distancing is carefully followed.
Taking out the Sting
A medical bill can be frightening. Copayments and deductibles can cost thousands of dollars. Such expenses will make anyone incredibly nervous. Countrywide helps calm a stressed-out mind.
Increases in premiums and deductibles will impact a person’s budget. Countrywide counselors will do a budget analysis to see where adjustments can be made in response to the added expenses. The counselor can suggest areas where savings can be made, and the plan member can use that to handle medical bills. If a huge payment is required, our counselors will also do an asset inventory to find what can be sold to meet the payment.
Learning How to Negotiate
The first responsible financial wellness plan member would be to try to pay the entire medical bill upfront. That is not a good idea because it rarely is necessary. Healthcare providers are willing to be reasonable when it comes to paying the bill. They are willing to make arrangements for monthly payments.
Countrywide counselors will teach a financial wellness plan member how to negotiate. Our counselors know how many healthcare providers deal with accounts payable. For example, a hospital may refer an unpaid bill immediately to a bill collection agency. If that happens, the counselor will advise a plan member that if a payment plan is in place, the plan member should contact the healthcare facility and ask the accounting department to tell the collection agency to stand down.
The counselor can also tell a plan member the best way to manage medical bills. It might mean scheduling treatments so that the deductible and the copayment are met early in the year. Whatever strategy is developed, it is something that is done between the counselor and the plan member.
The Client Is Part of the Team
Financial wellness is more than just meeting medical bills. We have other options that can be used for expenses, such as college loans. We ask that prospective clients look at our options and decide which will be part of their financial wellness plan. Countrywide will include their choices in the final document. We provide superior member services and streamlined administration.
Raising medical deductibles and premiums is a tough decision. We submit that our plan allows employees to handle added costs better. Countrywide helps a person take the bitter medicine of healthcare increases.
If you have any questions about our benefits, please feel free to contact us. We would welcome the opportunity to explain how we can help your employees resolve critical financial issues.