Money Talks Monday (4/23/18)

Understanding the benefits of your employer-offered insurance is often a key factor in maximizing your financial planning.

While most full-time exempt and non-exempt employees are offered and take advantage of health and other insurances through their employer, most do not know the full scope of offerings the insurer provides. Blue Cross & Blue Shield, the superpower of employer-offered health insurances in the Carolinas has many great offerings, that, if a person does not fully investigate even the minimum policy, he or she may not be aware of. And these offerings are valuable in the wallet, time management, for personal and family health, and for ease of service. Whether your insurance comes from Blue Cross & Blue Shield or another major provider, most have very comparable programs.

Two such programs are very valuable to subscribers and represent a terrific benefit offered by one’s employer. The first is Telemedicine. Telemedicine is an app that one can download to his or her smart phone wherein the app can be used for medical attention. Using this app connects you with a network physician within 15 minutes who can access many medical conditions via telephone. The telephone attending physician can access your full medical records, including medication allergies, and, if you have input your preferred pharmacy, prescribe medication for a number of conditions without you having to schedule a doctor’s visit, visit an urgent care, or pay the costly prices associated with an emergency room visit. The following conditions can be diagnosed via the app and subsequent treatment/medication subscribed: Common Cold, Influenza A & B, Fever, Rash/Skin Irritation, Abdominal Pain, Sinusitis, Pinkeye, Ear Infection, Migraines, and Minor Infections. While this provides you with medical attention immediately without cost other than a standard co-pay, there’s more. Even if not covered under your insurance, this service is available for the same co-pay to every member of your household; even the uninsured. This allows them quality medical treatment from home for only the price of your co-pay and greatly reduces the chances of infection spreading throughout the household.

The second benefit all subscribers should investigate are Employee Assistance Programs. Employee Assistance Programs are counseling services offered at no cost to the subscriber to help he or she deal with life’s most common mental health stimuli. EAPs, as they are known, offer support for the following issues with a Licensed Professional Counselor (LPC) via toll-free telephone numbers. EAPs can be used as frequently as needed with cost to the employee. Stress, Resiliency, Depression, Gambling/Addictive Behaviors, Parenting, FINANCIAL COUNSELING, Life Changes, Relationships, Substance Abuse, Mental Health, Grief, and Home to Work Balance are all counseling modalities offered through EAP Programs. It is imperative for your financial and physical health, as well as mental and emotional health, that you investigate, understand, and utilize the full scope of offerings of your insurance.

Join me back here next week for Money Talks Monday and in the meantime, make sure you learn all your insurance offers!