Financial Education Benefits Center Encourages Members to Be Proactive About Health, Not Wait for a Tax Refund

SAN RAMON, Calif., Feb. 26, 2018 /PRNewswire/ -- A recent report showed that consumers are putting off medical care until they have money for it, rather than seeking it when they need it. Specifically, in the week after they receive their tax refunds, consumers spend about 60 percent more on out-of-pocket healthcare costs. Financial Education Benefits Center (FEBC), a membership benefits company, offers a variety of health and financial wellness benefits that may help members seek medical care when they need it.

"There's only one good thing about tax season and that's getting a tax refund," said Jennifer Martinez, Manager at FEBC. "But when you've been putting off medical care due to costs, that refund may not get the special attention that many of us would rather give it. Medical care is important, and it can be expensive, but there are other ways to pay for it than with the annual tax refund."

Experts are worried that the trend to use tax refund money on healthcare costs is a symptom of cash flow constraints. They speculate that if consumers had larger incomes each month, they might be better able to cover those out-of-pocket healthcare costs as the needs arise. But how can they get larger incomes?

Financial experts often point out that getting a tax refund is actually a financial failure. Because the tax refund is simply a return of an overpayment of taxes, by modifying their withholdings, consumers can avoid paying too much in taxes and instead get that money in their regular paychecks throughout the year. That extra income can go toward out-of-pocket healthcare costs or toward any other financial goal.

Alternatively, FEBC members have access to benefits that may help reduce the costs associated with medical care. A health advocate benefit gives members access to professionals who can explain health insurance, attempt to negotiate discounts on bills and more. Members have access to certified doctors by phone or email to discuss illnesses, treatment, and other concerns, including when they should visit their local medical facility. And finally, they have access to a variety of discounts for things like medical imaging, lab tests, and prescriptions. All of this is included in the membership fee.

"Our benefits are meant to support our members in getting the medical care they need," said Martinez. "The benefits are not insurance but can work with members' insurance to keep costs hopefully at a reasonable level, so our members can afford the care they need when they need it, without having to wait for extra cash like a tax refund."

About Financial Education Benefits Center

Financial Education Benefits Center is located in San Ramon, California. The membership company has already helped thousands save money and obtain the necessary education required to live a financially healthy life.

Financial Education Benefits Center has partnered with several name brand third-party companies to expand the financial and educational products and services available to its members and to provide a variety of wellness services as well.

Contact

To learn more about Financial Education Benefits Center, please contact:

Financial Education Benefits Center

2010 Crow Canyon Place Ste. 100

San Ramon, CA 94583

1-800-953-1388

[email protected]

Related Links

FEBC home page

SOURCE Financial Education Benefits Center