Organizations may be forced to make tough decisions in the coming weeks. Figures from the first quarter may 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 rising medical costs. Unfortunately, some organizations may stop providing medical coverage.
Nationwide Prepaid Legal Services are aware that employers may face difficult choices in order to maintain profitability. Medical insurance is a necessary cost because good employees will leave without it. An organization's financial well-being will be challenging to maintain without hard-working people. We suggest that if an employer has to increase an employee's share of costs, that organization may introduce a benefit to offset these individual costs. We have one in mind.
Countrywide Protects Financial Wellness
Countrywide has an advantage that helps employees cope with the rising costs of premiums and deductibles. It is a plan that provides excellent advice on many cash management issues.
Our advantage uses a nationwide network of certified advisors. These are money staff who handle personal finance issues. They help plan members manage increased benefit costs.
Nationwide, planning members want to draw up a report with an advisor. It's easy to contact a nationwide advisor because we have one in each client's community. Our advisors are sensitive to the concerns of plan members. Social distancing is closely monitored.
Taking out Sting
A medical bill can be scary. Copies and deductibles can cost thousands of dollars. Such expenses will make anyone incredibly nervous. Nationwide helps calm a stressed mind.
Increases in premiums and deductibles affect a person's budget. Nationwide advisors will conduct a budget analysis to see where adjustments can be made in response to the additional costs. The advisor can suggest areas where savings can be made, and the plan member can use it to manage medical bills. If a huge payment is required, our advisors will also make an asset inventory to find what can be sold to meet the payment.
Learning to negotiate
The first responsible member of the financial health plan is to try to pay the entire medical bill in advance. This is not a good idea as it is seldom necessary. Caregivers are willing to be reasonable when it comes to paying the bill. They are willing to arrange monthly payments.
Nationwide counselors will teach a member of the financial health plan how to negotiate. Our advisors know how many care providers handle supplier accounts. For example, a hospital may immediately refer an unpaid bill to a bill collection agency. If this happens, the advisor will advise a planning member that if there is a payment plan, the planning member should contact the care facility and ask the accounting department to ask the debt collection agency to stand down.
The counselor can also tell a plan member the best way to handle medical bills. This may mean that you plan treatments so that the deductible and the co-payment are met early in the year. Regardless of which strategy is developed, something is done between the advisor and the plan member.
The customer is part of the team
Financial well-being is more than just meeting medical bills. We have other options that can be used for expenses, such as university loans. We ask that potential customers look at our options and decide which ones will be included in their financial health plan. Nationwide will include their choices in the final document. We provide superior membership services and streamlined administration.
It is a tough decision to raise deductibles and premiums. We claim that our plan enables employees to manage extra costs better. Nationwide helps a person take the bitter medicine of health care increases.
If you have any questions about our benefits, please feel free to contact us. We welcome the opportunity to explain how we can help your employees solve critical financial problems.