Choice Enrollment Blog
It was Benjamin Franklin who said, “Beware of the little expense. A small leak will sink a great ship.”
Isn’t it true?
Lack of knowledge in financial management is evidently the culprit of every broken marriage. When one lacks self-discipline in money, the marriage will falter and so will the family.
Shield your marriage with these money tips. Here are 5 simple ways you can avoid marital issues.
1 - Set a budget for your health
Postpone “til death do us part,” by developing a healthy routine. Encourage each other to set a budget for your gym visits, health food grocery trips, and health insurance. Experts encourage married couples to be creative in how to talk about “budget” to avoid superiority complex. The longevity of your relationship depends on how open-minded you are.
2 - Keep an “open book”
Do not feel ashamed by telling your partner your true credit history. After all, when you marry each other, you also marry the “flaws.” Boston Globe correspondent Rick Fingerman lists “not discussing your credit history with your prospective spouse” is considered as one of the10 biggest pitfalls in marriage.
Please keep in mind, that while privacy is equally important, being honest is a great investment too in having a healthy and successful married life.
3 - Consider talking to an insurance specialist
Ideally, it is essential to speak to an insurance agent before marriage so you’d know what steps to do. Most often than not, combining insurance policies can help save money overall, but only if it's done with care. With two individual insurance situations coming together its important that both are examined to determine the best coverage to keep and avoid overlapping protection.
4 - Save for the Inevitable
No one is exempted from the constant change. Everyone will eventually stress over the drastic changes in life. Therefore, secure your future by saving enough money to sustain your life should there be an emergency. Make a joint account and use it as emergency funds.
5 - Open a separate savings account
Financial independence is good when done properly. Encourage your spouse to open separate savings account for your household and extra-curricular activities’ use. Financial experts, including Dr. Phil believes that financial independence is a must. You just have to be honest with your spouse and everything will be well.
The number 1 cause of divorce according to US surveys is money. A great marriage doesn’t stop from exchanging vows. Rather, it is a development and nonstop nurturing. It is a mutual understanding, joint-effort, or a two-way communication. Therefore, do not let your “ship” sink just because of selfishness and lack of knowledge in managing your finances.
If you're recently married or know someone who is, reach out to Choice Enrollment at 866-481-1616 to make sure you have the best health insurance rates and that your coverage is combined in the most affordable and responsible way. Your marriage could depend on it!
provider on a fee for service basis. It is the best alternative if you value flexibility and if spending a few extra dollars for a more comprehensive coverage will be a problem. Having coverage this flexible implies immediate treatment for unexpected illnesses or medical emergencies. Indemnity insurance has gradually become less prevalent as the popularity of managed care becomes more amplified.
Conversely, a POS option is simply a hybrid-between a HMO and PPO. Just as the case is with a HMO, you will require a primary-care-physician. However, like a-PPO, you will have a large network of relevant physicians for referral purposes. These plans will occasionally be offered by your employer although they are likely purchased individually & will be-priced-between a HMO & PPO.
Both POS and Indemnity health plans attract an annual deductible & may incur higher-premiums than other plan alternatives.
Premium costs and Cost analysis
Finally, proceed to obtain quotes for each and every type of plan; prior to carrying out a comprehensive cost-analysis of each plan’s premiums against the kind of service you are convinced your family will require, clearly establishing what is the correct health-insurance-plan-for your beloved family.
In addition-to-cost, for every plan category you will want-to-consider their provider networks, the kind of services covered and out of pocket expenses.
Following these tips will aid you establish the ideal health insurance option for your family. But there's no replacement for speaking with a qualified health insurance agent. Call Choice Enrollment at (866) 481-1616 and we'll help you navigate your options.