Bankruptcy is not always caused by reckless spending. There are situations when credit card abuse does not matter in a person’s case. It can take a significant bill or a series of large expenses to cause a collapse.
The price of healing
Medical bills are a major cause of bankruptcy. Surgery will create problems, but medication is a serious cost driver. Many life-sustaining drugs are expensive and health insurance does not cover all costs. As a result, an individual gradually sinks deeper into debt and tries to stay alive.
Large medical payments can jeopardize financial well-being. Employees may be at risk, especially those who are middle-aged. Adjusting health insurance to handle medical bills may not be financially feasible. However, organizations can help by providing the right help. Nationwide Prepaid Legal Services has a financial health plan to help with medical debt.
Countrywide uses certified counselors to provide guidance. We have advisors registered with us across the country, and there is one in the community for every nationwide client. Plus, it’s easy to schedule a conference because our Financial Wellness Plan members have priority status.
Thinking outside the box
Our counselors help all types of people with their medical debt situations. This means these professionals can create advice centered on the person and not just demographics. In addition, they will not hesitate to think outside the box and recommend ways to lighten the burden.
For example, few are aware of the Manufacturer/Patient Assistance Program (MAPS). These can help a person better manage drug costs. Strategies on how to renegotiate a medical bill or check for billing errors are other advice that a nationwide advisor will not hesitate to share with the financial health plan member. The No Surprises Act 2022 is intended to prevent people from being hit with unexpected bills for emergency services. Our advisors can explain what the law entails.
A nationally important service is anxiety reduction. Our advisor can suggest how a plan member can avoid making panic payments and develop reasonable schedules to manage the debt.
It’s sad, but medical debt drives some people into bankruptcy. Nationwide can go the extra mile for them. We have a debt management plan deliberately designed to help those in dire straits. It costs a little extra, but the extra advice and special services justify the expense.
Every member of a financial health plan who is in bankruptcy can count on nationwide help. We provide the training and counseling required to emerge from bankruptcy successfully.
The customer is consulted
Our financial wellness benefit is designed to help all employees. First, we tailor a client’s plan to meet the expressed needs of the staff. Then we ask a potential customer to help us do it.
Management is informed about our benefits options and we answer all their questions. The decision-makers then choose which services should be included in their national plan. We will provide administration and membership services.
We also provide something else that people in financial trouble desperately need: empathy. People rarely self-destruct due to financial difficulties due to external circumstances. Yet many are ashamed to talk about their financial situation. Our advisors understand this reluctance. They respect the individual case and try to give answers and not lectures. Anyone who works with a nationwide advisor will feel the respect and courtesy they receive. We insist on emotional intelligence and compassion for our plan members. Advisors who don’t make sure it won’t work for us.
If you would like to know more about our services, please contact us as soon as possible. Medical debt can be scary, but we’re happy to explain how the Nationwide Plan allows an employee to face the bills with peace of mind and pay them responsibly.