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Obesity, Stress, and Race All Play a Factor in COVID-19 Cases

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COVID-19

As the coronavirus spreads across the globe, it is becoming more clear as to who is more at risk. Individuals who are obese or have chronic illnesses are more likely to get sick. Because these two conditions typically impact people of color in the United States, COVID-19 cases are more prevalent among African American citizens.

So, who is COVID-19 affecting the most and what will the financial impact be?

What Demographic Has the Most Cases?

Among individuals who got sick enough to be hospitalized due to COVID-19, 89% of them have some type of chronic illness. Of those, about half were obese or had diabetes. Around one third had cardiovascular disease.

Experts say that obesity is likely a marker for a number of other health issues. It can also lead to a compromised immune system. Not to mention, previous research has pointed to evidence that obese people may also be less protected by the flu vaccine than their healthier counterparts. “What we see with obesity is that these [immune] cells don’t function as well,” said Melinda Beck.

Beck, a health researcher at the University of North Carolina, Chapel Hill, stated, “The [immune cells] are not using the right kinds of fuels.” Because of this, being obese seems to “impair that critical immune response [needed] to deal with either the virus infection or [the ability] to make a robust response to a vaccine,” she said.

With coronavirus claiming a higher death rate among obese individuals and people with heart conditions, it has impacted the African American community heavily as well. Among the 26 states currently reporting racial data on COVID-19 cases, 34% of deaths have been African American citizens.

The Economic Impact

There are several factors making African Americans more susceptible to the virus. However, this demographic also typically suffers disproportionately to the rest of the United States population in terms of the economy as well.

“Chronic stress can make one more vulnerable to infection because it can lower your body’s ability to fight off an infection,” said Renã Robinson, professor of chemistry at Vanderbilt University. Anyone experiencing racial discrimination or financial trouble may suffer from chronic stress.

Due to this fact, low-income communities and African American communities could be at a higher risk of COVID-19 cases spreading through their area. “Every major crisis or catastrophe hits the most vulnerable communities the hardest,” said Marc Morial, president, and CEO of the National Urban League.

It isn’t yet clear what the long-term economic impact on the U.S. will be. For low-income neighborhoods and communities, it will undoubtedly change lives forever.

Readers, what do you think about the demographic information regarding COVID-19 cases?

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How to Save on Substance Abuse Rehabilitation

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COVID-19 has put the global economy on the brink of crisis, and it may be the most serious in a century. Hopes for a quick recovery of the planet are melting every day, and the bill for treatment is growing. The virus has already cost the world tens of billions of dollars, and this is only the beginning, economists warn.

However, people still have such serious problems as chronic diseases or addictions, which need to be treated even in this difficult period. The good news is that there are always a lot of ways to get free treatment, sometimes even if you don’t have any insurance. You can look for opportunities on the Internet, find free substance abuse programs on AddictionResource, or visit some official sites. In this article, we will show you the ways of getting affordable treatment in high-quality but free rehab centers.

Financial problems at the time of COVID-19

Due to COVID-19 and quarantine, in 2020, the US GDP may fall by 5% in annual terms, according to the calculations of the Center for Economics and Business Research, based in Britain. In 2021, GDP growth will be 3%, experts predict.

About 24 million Americans, or about 15% of the country’s workforce, may be at risk, according to Politico. Usually, these are workers in medium- or low-paid professions in those areas that could be affected by the coronavirus — bartenders, cleaners, drivers, cooks, etc. In a pessimistic scenario in which Washington will have to introduce large-scale strict quarantine measures, the reduction can get about 15 million jobs, according to a report by Deutsche Bank economists.

A total of 73% of the surveyed American workers, whose income does not exceed $40 thousand per year, said they were afraid of losing their income or job because of COVID-19. These data are presented in a public opinion poll prepared by the Kaiser Family Foundation. The survey was conducted from March 11 to March 15.

Cost of alcohol and drug rehabs

Usually, the cost of substance abuse treatment varies between the centers and the programs. Not all the rehabs are very expensive: most of them accept insurance, offer financial aid, or have other options.

The most common way of paying for the treatment is, of course, insurance. Medicare, Medicaid, military, private, or state-financed insurances often cover addiction care. So, if you have one, it’s better to discuss all the opportunities with your insurer.

The total cost always depends on the type of services offered. If you need detox care, it can range from $1,000 to $1,500, and usually, all the inpatient programs include this option. The price can be higher because of the types of drugs used during the treatment.

The cheapest options for inpatient rehabs may cost nearly $6,000 for a 30-day program. Meanwhile, famous centers will offer you the same options for $20,000. However, the requiring program includes 60-90 days of treatment, so in this case, you may pay $12,000-$60,000.

Outpatient programs are usually not that expensive, but they are a good fit for not serious cases of addiction. The price depends on the amount and duration of visits to the center and can cost $5,000-$10,000 for three months.

State-funded free substance abuse programs

There are a lot of organizations and rehabs which offer free addiction programs, using government money, which is distributed by a state. Such organizations and rehabs are called state-funded and offer not only detox programs, but sometimes even outpatient or inpatient care and partial hospitalization. They were created for people with low income or no insurance.

The state money, which is used to fund free programs, usually comes from the state budget or federal grants. The problem for those who seek treatment is that the size and even type of state support vary by state, as well as the requirements for this type of treatment. So it is important for everybody who looks for the treatment options to pay attention to their state financial features.

Often, other public services include these programs. You can find free drug addiction treatment provided by children’s social services, prison, and criminal justice systems. However, there are options for people not participating in these programs if they are eligible for services.

It can take a little effort and time to meet the requirements for participating in those programs. If you want to enroll in a state-funded treatment program, you need to provide proof of legal residence in the US and income status. Also, you should add your addiction history information. As soon as all your information is confirmed, treatment can be provided.

State-funded is usually limited and needed for a huge amount of people; you may need to be on a waiting list. If you have a priority (for example, you are a pregnant woman), you can be easily moved to the top of the list. You just need to provide the reasons for moving other people down in priority. If you have no priorities, but you are waiting too long for intensive treatment, in a case of emergency, you may be provided with medical maintenance or outpatient services.

Also, you should remember that government programs may provide, for example, only detox or medical care, but will then refer the client to self-help groups or counseling services. State-funded rehabilitation centers may not be as convenient in terms of accommodation as private clinics. Government funding generally does not provide all the home comforts, which you can find in a private health facility. The main goal for a state-funded program is not creating a spa-like atmosphere but providing treatment. However, people who are determined to overcome their addiction should not find this an obstacle to their progress.

Free drug rehab near me

AddictionResource.com can provide you with all the information needed. You’ll find there not only one of the biggest drug rehabs directory with the centers across the country, but also several pieces of advice on free treatment opportunities. The articles and support service will help you find the best treatment option, even if you have no budget on it. You can give a call every time you feel ready for that.

For more great saving advice articles, read these:

Social Media Linked To Mental Illness

How Mental Health Issues Impact Finances

Financial Psychology: Do You Have A Money Disorder?

Image source, Dimitris Kalogeropoylos, Via Flickr.

Changes in Law During the Coronavirus to Help People Nearing Retirement

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Changes in law during the coronavirus

The outbreak of COVID-19 across the globe has impacted the stock market, employment rates, and people’s everyday lives in a huge way. Millions of Americans watched their nest eggs disappear. For those nearing retirement, it is enough to send you into a panic. Thankfully, government officials are proposing changes in law during the coronavirus outbreak to help.

Changes in Law During the Coronavirus to Help People

As the virus swept across the world, the stock market collapsed. Because many retirement accounts rely on investments, people watched their savings for their golden years dwindle down to nothing.

Additionally, individuals who have been laid off during this time no longer have an income to contribute to their retirement. There is good news though. Officials are putting some changes in law into place to help.

1. RMDs Will Be Put on Hold

Required minimum distribution (RMD) refers to the minimum amount an investor must withdraw from their account after reaching age 72. This is common with many 401(k) and IRA plans. If you do not take the minimum, a fine will be placed on your account. However, during the coronavirus outbreak, the government has put a hold on minimum required withdrawals.

This will be the case for the entire year. Ed Slott, a certified public accountant, said: “Now, clients can sit out a year and avoid the tax bill on their 2020 RMDs if they wish.”

2. Penalties Are Being Eased

Individuals with IRAs and 401(k) accounts that have been financially impacted by the virus are also able to withdraw up to $100,000 from their retirement account without penalty. Typically if an accountholder withdraws early, they are required to pay a 10% early withdrawal fee.

It is important to note that this only applies to people who have been diagnosed with the coronavirus, been laid off due to the virus, had reduced work hours, or have otherwise been impacted.

3. You Can Get Larger 401(K) Loans

As mentioned in the point above, people with 401(k) accounts are able to take $100,000 out without a penalty. This is more than the typical $50,000 limit for 401(k) loans.

Other retirement plans will only allow you to take out up to a percentage of your balance. These limits will also be lifted for the rest of 2020.

Other Changes in Law and Policy

Policymakers are also pushing to make other changes to help Americans get through this time financially. For instance, Navient, a major federal student loan lender, has waived all interest and allowed borrowers to be granted forbearance until September. This means no payments will be required during this time.

On top of that, many mortgage companies and other businesses are offering payment relief at this time to assist people through the coronavirus outbreak. If you need assistance or are unable to make a payment at this time, the best thing to do is give the company a call and ask what your options are.

Readers, what do you think about the changes in law during the coronavirus outbreak? Are they helping you in any way?

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What You Need to Know About the Proposed Student Debt Relief Act

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Student debt relief act

Democrats have proposed a Student Debt Relief Act that would forgive $30,000 in student loan debt for borrowers during the coronavirus outbreak. This comes just two weeks after President Donald Trump announced student loan interest would be waived during the pandemic.

For the most part, liberals have been pushing for student loan forgiveness. In fact, it is one of Senator Bernie Sanders’ main talking points in his campaign. However, politicians are now saying the coronavirus outbreak and resulting economic downfall may require student debt cancellation to improve the economy.

What is the Student Debt Relief Act?

Of course, no Student Debt Relief Act has been pass… yet. There are about a dozen members of Congress backing the idea though.

“During this public health emergency, no person should have to choose between paying their student loan payment, putting food on the table or keeping themselves and their families safe and healthy,” lawmakers wrote.

More congressmen and women are looking to support this movement, but many of them cannot agree as to how much should be forgiven. Senators Chuck Schumer, Elizabeth Warren, and former vice president Joe Biden have proposed to automatically forgive $10,000 in debt for everyone.

This would mean for someone like me who owes $24,000, my debt would get knocked down to $14,000. That’s a pretty great deal! Others have proposed to forgive even more.

One thing is for sure. There are likely going to be changes to the federal student debt and forgiveness is likely going to extend to more people in the near future.

Other Help Coming

As mentioned, there have already been moves made to lessen the burden on student loan borrowers during the COVID-19 pandemic. First, interest on all federal student loans has been waived for the next 60 days. This is good news for individuals who have to apply for forbearance during this time. You won’t accrue interest while you’re not making payments (like you normally would).

Additionally, Congress has approved a stimulus for the coronavirus outbreak. Because many people are out of work, they are able to apply for these stimulus checks with their 2018 or 2019 tax returns. Each person will receive $1,200 and couples will receive up to $2,400.

Lastly, if you need help paying any of your other bills, you have options. Call your lenders, utility companies, and other businesses you deal with and explain your situation. Most places will work with you on payments right now.

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How to Get Free Medicine from Drug Makers

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how to get free medicine

On average, Americans spend $1,200 per person on prescription drugs every year. Certain medications are shockingly expensive. For example, Revlimid, a prescription that treats blood cancer, runs around $20,000 for a 30-day supply. To say that most people can’t afford a price tag like that is an understatement. But, even if you can’t shoulder the cost of your medications, that doesn’t mean you have to skip your meds. It is possible to get free medicine from drug makers. If your prescription costs are too high to manage, here’s what you need to know about this option.

Free Medicine Through Patient Assistance Programs

Most major drug manufacturers offer a patient assistance program (PAP). Also known as a pharmaceutical assistance program, it is designed to help individuals who may not be able to afford their medication without some help. While the programs focus mainly on the uninsured and underinsured, others may also qualify.

If you are eligible for the PAP, then you’ll get access to free or low-cost medication from that manufacturer. Precisely how that unfolds varies by program, so you’ll have to go over the details to determine how the drug maker ensures you aren’t stuck with the financial burden.

However, it could involve the drug maker shipping your prescription straight to your door or directly to your doctor. When this occurs, either you or your doctor will need to play your refills well in advance. It can take several weeks for new orders to arrive, so you’ll have to be on top of things to ensure you don’t run out of your meds.

Qualifying for Free Medicine from Drug Manufacturers

Every PAP has different eligibility criteria. Usually, the biggest determining factor is your household’s income. Since a PAP is meant to help those who can’t afford their medication, your household’s income has to be below a particular line. That limit is set by the drug maker, though it’s typically higher than the limit for Medicaid eligibility.

The manufacturer may also take other factors into consideration. For instance, some drug makers also gather information about your assets. You might have to provide details about any investment accounts, for example. When that occurs, even if your income is low, if your investment account balance is healthy, you might not be eligible for the PAP.

Can You Use More Than One PAP?

Generally, yes, you can use more than one PAP at a time. If you have medications made by different companies and meet each manufacturer’s PAP requirements, you may be able to get free prescriptions from both drug makers.

Normally, the only time you couldn’t use multiple PAPs is if they would be covering the same medication. That typically isn’t an issue with drug maker PAPs. However, there are other PAPs that aren’t tied to one manufacturer. They may be more restrictive about using more than one program

Ultimately, it’s always best to read the fine print to find out before you move forward with any PAP. That way, you’ll know if there are any potential issues ahead of time.

The Largest Drug Manufacturer PAPs

Certain PAPs are particularly large. They are run by major drug manufacturers who produce a wide variety of medications. As a result, there may be a significant number of people who could use (and qualify for) assistance, and they have the financial means to alleviate patients of the burden.

Here are just some of the largest drug manufacturer PAPs:

Smaller drug makers may also have their own programs. If you have a medication not made by one of the manufacturers above, consider doing a search. You can use the Medicare PAP finder or use a search engine.

If you go the latter route, do exercise caution. There are PAP scams out there. For example, if you have to pay a fee to apply, it’s a scam.

In most cases, if you head to the manufacturer’s website first, you can access details about its PAP from there, if one’s available. That may be a safer road than using a search engine as you’re starting out on the drug maker’s site.

What to Do Before the PAP Kicks In

Even if you qualify for a PAP, it can take time for your application to process or for you to receive your benefits. If you need medication immediately that you can’t afford, speak with your doctor as soon as possible. They may be able to provide you with some free sample packets to cover the gap, ensuring you can remain on your prescription.

Additionally, your doctor may know about other programs in your area that can help. That way, you can get your medications during the period before the PAP kicks in.

Do you know of any other tips that can help people save on their prescriptions? Tell us about them in the comments below.

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How to Pay the Bills During the Coronavirus Pandemic

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how to pay the bills

As the coronavirus spreads across the United States and cases increase by the day, more people are getting laid off from their jobs. Some businesses are closing due to government restrictions in the area. For instance, many cities have restricted all dine-in business for restaurants. Because of this, many people are without work and are left wondering how to pay the bills during this crisis.

How to Pay the Bills During a Pandemic

It is not yet clear what the stimulus package in the U.S. will look like to help the American people, and the economy, recover from this. If you are looking for immediate relief or help, the following tips will help you figure out how to pay the bills or make arrangements for your finances.

  1. Contact your mortgage lender. You may be eligible for a reduced mortgage payment or a complete pause on your payments altogether. Call your lender and discuss what options may be available to you. Important: Do not wait until you start missing payments to call.
  2. Apply for forbearance or deferment on your student loans. Many student loan borrowers saw Trump’s announcement that he would waive all interest on student loans during the crisis. That doesn’t mean you don’t need to still make payments though. If you’re having trouble making payments, you can apply for deferment or forbearance for your loan. Read more here.
  3. Call your utility companies. Yes, even your electric, water, gas, etc. will be able to work with you on payments at this time. If you are out of work and really hard-up for money, many of these companies will allow you to make partial payments, if needed. You may also qualify for free or reduced utility prices based on your income.

Lastly, many businesses and large corporations are putting a pause on any action they may typically take against delinquent accounts. For instance, Bank of America has paused all of its evictions, foreclosures, and repossessions until after the coronavirus pandemic has calmed down. That being said, you still should call and discuss your options with the lender/company.

Conclusion: Communication is Key

We, as a nation and as human beings, are all going through this together. Remember if you are calling a customer service line that they are likely dealing with high call volumes, not to mention their work environments have likely changed as well. Communication and kindness will go a long way during this time.

Lastly, if you find yourself out of work at this time, consider looking for a side hustle or another way to generate income during this time. We’ve compiled a list of 38 ways to make money on the side here.

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