Financial Services

CHI Health EAP's Financial program provides you and your eligible family members with financial referrals to top-rated financial professionals.

Benefits

Financial Consultations

Each member is entitled to no cost telephonic consultation with CLC’s staff model financial counselors. Typical matters include credit counseling, debt and budgeting assistance, tax planning, retirement and college planning questions. These services are provided by seasoned financial professionals and licensed CPA’s. Telephone consultations are generally limited to thirty-sixty minutes per issue. In the event a member wishes to retain their counselor for additional services, members may elect to continue working with their coach through MySecureAdvantage at a rate of $39.95 per month. This service provides the member with unlimited access to their financial coach and the member may continue on a month to month basis.

Tax Preparation and Consultation Component

Members are entitled to receive a 30-minute income tax planning related consultation per year on each separate tax issue they encounter. Preparation of all personal income tax documents are prepared by a CPA at a preferred rate reduction of 25% from the CPA’s normal fee.

Examples of the types of matters for which you may use this program include:

Developing a Spending Plan

This service provides analysis of member’s budget with a goal of developing a realistic spending plan that incorporates current and future financial goals. The analysis will include advice on maximizing income, reducing expenses, as well as managing the use of credit.

Rebuilding Your Credit

Credit Report Analysis provided (an analysis tool that gives an overview of credit report and credit score with tips on strategies to improve your credit score).

Getting Out of Debt

Service provides an analysis of member’s debt structure to ensure they are managing debt in the most effective way possible. Effective strategies for credit challenges including direct access to non-profit credit counseling services.

Garnishments

This service offers the member an opportunity to discuss either garnishment prevention or cash flow management in the event a garnishment has occurred. The member will be able to review their financial situation with a financial counselor, to better understand the ramifications of their choices, and alternatives, if available.

Tax Levy/Wage Garnishment Resolution Program

It is estimated that 2%-6% of the employee workforce have received or been threatened with a tax levy on wages. Through our Tax Levy Resolution Program members will receive a free 30 minute consultation with a Tax Levy Resolution Specialist who can review their current tax problem. Additional services such as negotiating with taxing authorities, stopping tax collections, interfacing with HR/Payroll, etc. will be provided to the member at a discounted fee.

Pre-Retirement Analysis

A hard copy financial planning report is provided that analyzes existing retirement investments to see if member is on track for their retirement income goals.

401(k) Review

Analysis tool to help the member choose the right mix of mutual funds in their 401(k) plan with regards to their investment goals and temperament.

Home Buying Strategies

This service provides advice and analysis of strategies for buying a home, as well as information on first time homebuyer programs. Provides direct access to a mortgage loan lender.

Mortgage Refinance Check-Up

Whether you want to lower your mortgage payments, eliminate private mortgage insurance, get cash out for a home improvement project or pay off high-interest rate credit card debt, refinancing could be your answer. But, you’ll likely have questions about whether it’s a smart decision right now. Use the Mortgage Refinance Check-Up service to find out answers to some of your toughest refinancing questions.

College Funding Analysis

Provides a hard copy financial planning report that analyzes member’s current investments for college in relation to costs for higher education in the future.

Income Tax Services

Direct access to discounted tax preparation/tax planning services. If tax preparation service is requested, members will receive a preferred discount of 25% off normal fees.

General Financial Coaching

General financial coaching is available on several different levels in our benefit package. Services range from individual consultations involving budgeting, credit matters, estate planning, retirement planning, and college funding, general investment subjects and tax issues. The following is a partial list of the many financial topics available to be discussed with a CLC Financial Coach:

• Budgeting Techniques
• Corporate Bonds
• Credit After Bankruptcy
• Credit Cards with Lower Interest Rates
• Credit Repair Scams
• Credit Reports
• Debt Counseling
• Divorce Planning
• Finding a Financial Advisor
• Insurance Buying Strategies
• Internet Stock Trading
• IRA Rollovers
• Medicaid
• Medicare
• Money Market Accounts
• Mortgages
• Mutual Funds
• Negotiating Late Rent/Utility Payments
• Renting vs. Buying a Home
• Retirement Planning
• Reverse Mortgages
• Saving For Financial Emergencies
• Social Security Benefits
• Small Business Financing
• Student Loans
• Tax Issues
• U.S. Savings Bond

Matters involving disputes or actions between members and their employer, CLC or its plan sponsors, agents or their officers, directors or employees are specifically excluded from eligibility of this plan. Also excluded are matters that, in the attorney’s opinion, lack merit. Court costs, filing fees and fines are the responsibility of the member. Program administered by CLC, Inc.