A few years ago, we were really strapped. We were in a bad financial situation. My (then) husband was out of work and was trying to get a job as quickly as he could. I was supporting the family with just the money I was making from The 6 Pack and at the time, that wasn’t more than fun money. We had gone through our savings and we weren’t even living paycheck to pay check because there was no paycheck. My point is, we were broke and there was no wiggle room at all.
Jim was able to find some work as a temp. We thought for sure that it was going to be exactly what we needed. I would still be doing what I was doing and making some extra money, but at least now there would be a set paycheck coming into the house so that we could get back to being caught up.
After little over a week on the job, Jim got hurt. He got hurt really bad. He injured his knee to the point that he couldn’t walk or even barely stand and there was no way for him to work. So the job that was supposed to help us get back on our feet, just took the feet right out from under us, kind of literally.
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While we would receive money from workman’s comp during the time that Jim was injured, which turned out to be close to a year before he could get back to work, the amount was so small that it barely paid for groceries in our large family. There were times that I didn’t know what we were going to do, because even with his injuries, he had trouble helping with the kids, which meant I couldn’t leave the to go to a job everyday.
So what is my point? It didn’t take much to leave us between a rock and a hard place. Most people are living from paycheck to paycheck, no matter what the situation. If you get injured or have a long term illness, you could be facing medical bills and house hold bills that you are worried about how you are going to pay them.
A-F-L-A-C (in my best ducky voice) Did you just hear the duck waddle past you quacking Aflac at you. Well you should. Right now is open enrollment for most U.S. companies. That means it is a time for workers to review their employer-sponsored benefits offerings and choose the health insurance policies that best meet their financial and health care needs. Here’s the problem. Although selecting the right health care benefits may be one of the most important decisions Americans will make all year, an Aflac survey found that many workers do very little research to learn which plans and products really work best for them. So much so, that 34% of employees spent 15 minutes or less researching which plan was best for them and their families in 2014. If you don’t do your research you could end up with inadequate health care protection for yourself and your families.
It is important to look into the voluntary polices, which complement major medical coverage, that your work has to offer. If there is an unforseen medical event, you could be facing co-payments, deductibles and even treatment that are not covered by your insurance. Plus, these events can easily keep you from working. How are you going to cover your daily living expenses plus pay for the treatments you need. It can be a stressful situation to deal with. According to a recent Aflac survey, 66 percent of workers would not be able to adjust to the large financial costs associated with a serious injury or illness, and 49 percent have less than $1,000 on hand to pay out-of-pocket medical expenses.
Be sure to look at your open enrollment packet this fall. Be sure to check to make sure that you have the coverage that you need.
I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.
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