For all doctor office visits, prescriptions, and major medical charges, Ronald will be responsible for 20 percent and the insurance company will cover 80 percent of covered charges. (a.) The monthly premium cost to Ronald for the Blue Cross/Blue Shield plan will be $48.52. The following is an overview of that information. Ronald needs to review the packet and make a decision on which health care program fits his needs. Aerosystems offers its employees the choice between a private insurance company plan (Blue Cross/Blue Shield), an HMO, and a PPO. Carole, the employee benefits clerk, gave Ronald a packet that contains information on the company's health insurance options. If you need help, you can contact ComCare or go to the Community Development Council (CDC), Citizens’ Consultative Committee (CCC) or a Family Service Centre (FSC) near you.Ronald started his new job as controller with Aerosystems today. Depending on your needs and eligibility, you may receive short- to medium-term help or fee subsidies for children from low-income families who are placed in childcare, kindergarten or student care centres. Workforce Singapore's career matching services can assist you in needs assessment, career profiling, training opportunities and job-matching to help you find suitable jobs.ĬomCare provides social assistance to low-income individuals and families. If you need help, you can approach the following organisations: ![]() Some of us may not have existing savings or assets to rely on. Always aim to keep three to six months of your expenses as savings at all times. When you find employment again, make sure your priority is to rebuild your emergency savings. These measures may seem tough at first sight, but they can help manage your finances during this time. If you cannot afford to lose money, now may be the time to liquidate riskier assets. See which investment can be liquidated without penalty or too much cost if you need urgent access to funds. If you apply for coverage later, you may have to pay more, or may be ineligible if your health has changed If you don't take up any of these options and simply stop paying premiums, your coverage could be terminated. Convert your policy to a fully paid-up one.You can also ask your financial adviser if you can do one of the following: You should not rely on this for an extended period. Note Note: These options will pay for the premiums to keep your policy in force but interest will be charged. Take a loan against your policy’s cash value (if any).If you have life insurance policies, ask your financial adviser what options you have. Go to Credit Counselling Singapore for assistance if you need more help. You may need to restructure some of your debts. ![]() If it is unlikely you will be able to settle your credit card bills, stop using it. You'll have to pay high interest charges if you can't keep up with settling your credit card bills or instalment plans. Watch out for the interest that you are paying Saving up for your children’s education or your retirement? Remember: Your children can always apply for student loans.Ĥ. If it doesn't look like you will find a job soon, and your savings are emptying fast, you need to take a long, hard look at whether to get rid of bigger liabilities.įor example, if your car loan repayments are crimping your budget for daily living expenses, think about selling it. Making changes to your lifestyle is crucial to stretch your savings. It is important to cut out luxuries, such as dining at restaurants and taking taxis since it is hard to tell how soon you will have income again. Set aside enough for these expenses and stick to it. Make a list of things you need to spend on, such as groceries and utility bills. The best way to tide over the period of unemployment is to be clear-headed, pragmatic, and disciplined about your finances - and make any changes swiftly. But what if you have no emergency funds to dip into? When your income gets completely cut off, being able to tap emergency savings will soften the blow. Losing your job can be a traumatic experience. Find out how to manage your money through this period, and where to get help if you need it. Taking firm steps quickly to reorganise your finances can help lessen the impact of losing a job.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |