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☆ Many single parents who drive for apps like Uber and Lyft say it's their best option — but they still can't pay their bills
▼ + stars: | 2024-03-06 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +12 min

AdvertisementFlexibility can be an illusionMost single parents with whom BI spoke said they valued the flexibility gig work gives them. Some single parents with disabilities said being able to take days off has helped them stay healthier and avoid burnout. This means that a higher percentage of single parents' earnings goes toward childcare costs, pushing some away from using childcare entirely. "These fluctuations and discrepancies can be devastating to individuals who don't have other mechanisms to make money, including single parents who are often operating on a single income," Greening said. AdvertisementIt's not easy for parents with older childrenThe issues single parents face still linger for those with older children.

Persons: Bri, Uber, Dara Khosrowshahi, Lyft, Uber hasn't, Susan, she's, Lindsey Cameron, Cameron, Cindy Lehnhoff, Lehnhoff, Bryant Greening, Greening, Starla, She's, Genesis, Paul, he's, It's humbling Organizations: Service, DoorDash, Walmart, Business, Wharton School, National Child Care Association, BI, Uber, Security Disability Insurance, Arizona State University Locations: Fort Worth , Texas, Grubhub, bam, Ohio, Jacksonville , Florida, Atlanta, Las Vegas

☆ A California native recently moved to a Kentucky city with 26,000 residents. She's able to live a much more fulfilling life closer to family at a much lower cost.
▼ + stars: | 2023-11-08 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

A Gen Xer moved from California to a small city in Kentucky in 2021. Duvall moved in 2021 from San Marcos, her city of 100,000 in California, to Paducah, Kentucky, a small city with around 26,000 residents. AdvertisementAdvertisement"I have no plans on ever going back to California ," Duvall said. Of that total, just under 6,000 moved from California to Kentucky, compared to over 22,500 in neighboring Tennessee. Still, Duvall said in her small city, she's gotten better care for her medical problems, as she's gotten more individualized, thorough attention.

Persons: Xer, she's, —, Duvall, Kentucky Duvall, SSDI, it's, I'm Organizations: Service, Security Disability Insurance Locations: California, Kentucky, San Diego County, San Marcos, Paducah , Kentucky, Tennessee, San Diego, Paducah

☆ 2 participants in Denver's basic-income experiment say it's helped them buy a car, rent an apartment, and turn their lives around
▼ + stars: | 2023-10-21 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +9 min

Through the Denver Basic Income Project, they received $6,500 up front and $500 monthly for a year. These payments helped them rent an apartment, buy a car, and improve their mental health, they said. How basic income worksOver the course of a year, the Denver Basic Income Project gives participants cash payments of varying amounts. The Denver Basic Income Project began in 2021 and was granted a $2 million contribution from the city. AdvertisementAdvertisementBroncucia and Searls participated in the Denver Basic Income Project.

Persons: Dia Broncucia, Justin Searls, —, Broncucia, Searls, Mark Donovan, Armando Generyo, Donovan Organizations: Income, Service, University of Denver's, Housing, Homelessness Research, Social Security Disability Insurance Locations: Denver, San Francisco, New York, Santa Fe , New Mexico, Vancouver , British Columbia

☆ Long Covid has led to financial hardship for patients, research finds. Experts say these changes can help
▼ + stars: | 2023-07-26 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

O'Rourke herself suffers from long Covid symptoms. "We absolutely have to commit to social support, disability aid, for people living with long Covid" and other chronic illnesses, O'Rourke said. The Urban Institute's research, and feedback from experts, points to three changes that may help bolster social supports for long Covid sufferers. Moreover, people who develop long Covid may have a longer amount of time before they have to return to work. More than a year after contracting Covid, about 18% of those with long Covid still hadn't returned to work, recent study by the New York State Insurance Fund found.

Persons: Meghan O'Rourke, O'Rourke, we're, Long, Michael Karpman, Lisa McCorkell, hadn't Organizations: Urban Institute, Social, Assistance, SNAP, Social Security, Led, Capitol, Urban, New York, Insurance Fund

☆ How 2 Gen X moms are grappling with food stamp cuts, surviving off $23 in monthly benefits and struggling to pay bills
▼ + stars: | 2023-06-25 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +6 min

Cuts have made it difficult for these Gen X moms to put food on the table or pay their bills. In mid-May, her Supplemental Nutrition Assistance Program, or SNAP, benefits check dropped from $516 to just $23. Starting in March, millions of Americans receiving SNAP benefits lost hundreds of dollars from their grocery budgets as the pandemic-era food stamps expansion ended. To supplement her sudden drop in benefits, she's gotten food from local food pantries, though they rarely had meats, gave out expired breads, and mostly had canned foods. Do you rely on SNAP benefits and are affected by these changes?

Persons: —, Venus Barnes, She's, she's, everybody's, Barnes, Joe Biden, Kevin McCarthy, — Barnes, I've, I'm, Khiana Organizations: SNAP, Service, Collins Aerospace, Assistance, Social, Food Research, Action, Security, Insurance Locations: North Carolina, Maryland

ABLE accounts provide those with disabilities an opportunity save enough to purchase a house without putting their benefits at risk. Can ABLE account funds be used for a down payment on a house? Tim Elliot, another ABLE account owner and ABLE NRC ambassador, found out about these accounts through an internet search. Home-related expenses an ABLE account can coverOne of the more popular uses of an ABLE account for hopeful homeowners is saving for a down payment. How to open an ABLE account and start saving to buy a homeTo open an ABLE account, you'll need to choose a state program to participate in.

☆ Long Covid disabled them. Then they met a ‘broken’ Social Security disability process
▼ + stars: | 2023-02-25 | by ( Morgan Stephens | ) edition.cnn.com time to read: +12 min

And two Congressional bills addressing the long Covid crisis — The “Covid-19 Long Haulers Act,” which would’ve collected data on long Covid patients with the goal of creating better care and treatment, and “The Care For Long Covid Act” would’ve improved research, centralized data and resources for people with Long Covid — died without making it out of committee. Disabled by long Covid since March 2020, she lives with her spouse and their 7-year-old son in Portland, Ore. “We didn’t design our life to be a single-income household.”Other long Covid patients have rearranged their finances, too. His company’s private long-term disability insurance pays a smaller percentage of the monthly benefit payout when federal disability pays a portion. “They’re not only dealing with long Covid complications, but they’re dealing with financial complications,” she said of her clients.

☆ Successfully applying for Social Security disability is difficult. Applying as a long Covid patient is even trickier
▼ + stars: | 2023-01-09 | by ( Lorie Konish | ) www.cnbc.com time to read: +8 min

Social Security disability benefits are generally available to workers who have earned enough credits through payroll taxes — typically 40 credits, though younger workers may qualify with less. Supplemental Security Income, or SSI, is a federal benefit available to disabled individuals who may not qualify for Social Security disability based on their work records. Allsup, which works with NASA, helped Perry get his Social Security disability benefits application approved. "That can really make or break a Social Security disability case," he said. Social Security disability benefits are aimed at long-term conditions.

☆ What long Covid patients need to know about health insurance
▼ + stars: | 2023-01-05 | by ( Annie Nova | ) www.cnbc.com time to read: +4 min

Halfpoint Images | Moment | Getty ImagesNavigating the health insurance system is often difficult and overwhelming, even in the best of times. For patients with long Covid, a relatively new condition that frequently leaves patients with a lengthy and unpredictable list of debilitating symptoms, it can be especially nightmarish. Here's what you need to know about navigating health insurance with the condition. Long Covid patients, for example, often seek physical therapy and mental health services, she said. Clinical trials are 'worth investigating'Clinical trials, many of which are covered by health insurance plans, can be a great option for long Covid patients, Donovan said.

☆ Meet a couple living on disability and $500 per month from a guaranteed-income program for families hurt financially by the pandemic
▼ + stars: | 2022-12-25 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +6 min

A couple from Minnesota gets by on disability benefits and a basic-income program aimed at parents. The St. Paul pilot program launched in 2020 provides 150 families $500 per month for 18 months. The possibilities opened up for their family when Malissa was chosen for a guaranteed-income pilot program in her hometown of St. Paul, Minnesota. Money from guaranteed-income programs does not typically affect one's eligibility for public-assistance programs in the way employment can. The couple has been supporting their family on about $2,000 per month in disability income because of mental-health issues and complications from a childhood case of spinal meningitis.

☆ Long Covid patients can face a battle trying to claim benefits through their workplace disability insurance
▼ + stars: | 2022-12-20 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +8 min

Many workers get disability coverage via an employerAn estimated 43% of private industry workers have access to short-term disability insurance through their employer, according to the Bureau of Labor Statistics. Long-term disability insurance, which is intended to kick in when necessary after short-term disability benefits run out, is available to 35% of workers. After 10 weeks of struggling, he filed another short-term disability claim when it was clear he was not improving. Toward the end of 2021, with five doctors agreeing that his condition was disabling, he again filed a long-term disability claim. In fact, cases involving denial of long-term disability benefits for long Covid are cropping up around the country.

☆ Biden's student-loan forgiveness 'does not go far enough' for seniors and people with disabilities facing 'crippling debt,' a Democratic lawmaker says
▼ + stars: | 2022-12-19 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

A group of Democrats introduced a bill to wipe out student debt for Medicare and Social Security Disability Insurance recipients. Rep. Jamaal Bowman said Biden's broad debt relief "does not go far enough" to help those borrowers. Social Security benefits risk being seized if a borrower falls behind on student debt payments. More than three million Americans over 60 collectively owe more than $86 billion in student loans, per the Consumer Financial Protection Bureau. Social Security benefits are also at risk of seizure if a borrower defaults on paying their student loans.

☆ Long Covid's financial devastation: $8,000 in credit card debt, ruined retirement plans
▼ + stars: | 2022-12-08 | by ( Annie Nova | ) www.cnbc.com time to read: +8 min

More than a third of respondents said their income had gone down as a result of long Covid. "Long Covid is as much part of the pandemic as is the acute phase, during which the government went to great lengths to treat people and save lives," said Oved Amitay, president of the Long Covid Alliance, an advocacy group. Of the long Covid patients she has seen, only 2 out of 50 who have applied for SSDI have been approved so far, she said. Sharon Sunders long Covid patient"They may not have the resources to go through the process," Verduzco-Gutierrez said. 'There's a tidal wave of us coming'Sunders wishes the Biden administration would do more to help those financially struggling with long Covid.

☆ 4 financial moves if you have — or are worried about — long Covid
▼ + stars: | 2022-12-06 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

"We're far from being done with this," McClanahan, founder of Life Planning Partners in Jacksonville, Florida, said of long Covid. Waiting until after developing long Covid might mean you pay higher premiums for life insurance or private disability insurance — or that insurers will deny coverage, McClanahan said. Long Covid has been linked to hundreds of potential symptoms, some of which are debilitating and serious, like damage to vital organs. For instance, there's not yet a test to determine if someone has long Covid, meaning some doctors are hesitant to diagnose or treat patients. For individuals worried they might have long Covid, McClanahan recommends creating a medical diary with detailed logs of each symptom and doctor visit.

☆ Your Health, Your Money
▼ + stars: | 2022-12-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailYour Health, Your MoneyWhether or not you have personally experienced the long-haul health effects of Covid-19, it has certainly affected personal and household finances in ways that few could imagine before the pandemic created worldwide economic uncertainty. As a result, it has become more difficult for people to achieve their financial goals, it has increased the risks for lenders and insurers alike, and it has long-term implications for Social Security Disability Insurance.

watch nowMichael Bryand, 35, first got Covid in September 2020. And currently, as many as 23 million Americans have what's considered long Covid, according to recent estimates from the U.S. Department of Health and Human Services. Long Covid is 'something invisible'Michael Bryand, here with his family, first got Covid in September 2020. Ramey was a nurse in San Antonio for 30 years before she got Covid in 2020. Verduzco-Gutierrez works primarily with Covid patients, including Ramey and Bryand, through the long Covid clinic she established in 2020.

☆ Long Covid may be 'the next public health disaster' — with a $3.7 trillion economic impact rivaling the Great Recession
▼ + stars: | 2022-11-30 | by ( Greg Iacurci | ) www.cnbc.com time to read: +12 min

Norpel is one of millions of Americans with long Covid, also known as long-haul Covid, post-Covid or post-acute Covid syndrome. Key symptoms: Long Covid has been linked to more than 200 symptoms, according to The Rockefeller Foundation. Duration: There's no consistent definition of how long symptoms must persist for someone to be considered a long Covid patient. What experts do know is that for some, long Covid symptoms can last months or even years. "I don't know if it's for the rest of my life or not," Hurst said of feeling long Covid symptoms.

☆ The Caregiver's Lament: How to handle the costs of care
▼ + stars: | 2022-11-29 | by ( Chris Taylor | ) www.reuters.com time to read: +5 min

In fact, the United States has 53 million unpaid caregivers, according to a study by the National Alliance for Caregiving and the AARP. No wonder 62% of caregivers for loved ones with disabilities or special needs report being overwhelmed by financial stress, according to Fidelity. However, “programs do exist at the federal and state level to help families and caregivers,” said Dyvonne Body, author of the Aspen Institute report. “In our surveys, 46% of caregivers don’t even think to ask about benefits like that,” said Fidelity’s Stoddard. Long-term care insurance helps with issues like home healthcare and nursing homes, with policy premiums generally cheaper the earlier you secure coverage.

There aren't any savings account limits if you're applying for Social Security Disability Insurance. Here's what you need to know about your savings options if you'd like to receive disability benefits. Can you have a savings account if you receive Social Security disability benefits? Savings account options if you receive Social Security disability benefitsSavings accountYou can open regular savings account at a brick-and-mortar or online bank. If they plan on using it as an emergency reserve savings account, they may want to keep it in cash," advises Dunn.

☆ A housing crisis is upon us — but a church group in Virginia is taking a big swing at homelessness by pairing up roommates, subsidizing their rent, and offering counseling
▼ + stars: | 2022-10-30 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +6 min

A small church organization in Virginia is helping unhoused people get back into permanent homes. In addition to losing access to stable housing, Walker says, people lose access to their communities. "Homelessness can be life changing, it can be a matter of life and death," Walker told Insider. His monthly disability payment — under $800 — is less than the median Virginia Beach rent of more than $1,000 for a one-bedroom apartment. Research shows that providing housing subsidies, alongside case management and supportive services, can help people experiencing chronic homelessness achieve long-term housing stability.

It's possible to buy a home when all or most of your income comes from disability benefits or insurance. In the eyes of a mortgage lender, disability income is basically viewed like any other income, with one exception that can work in your favor (more on that in a minute). How to qualify for a mortgage with disability incomeWhen using disability income to qualify for a mortgage, you'll go through the same process as any other borrower. The challenges of buying a house using disability benefitsIf you're only receiving short-term disability benefits, you'll likely have a harder time using that income to qualify for a mortgage. Beware of mortgage discriminationLenders can't refuse to consider disability benefits income, and they can't treat you differently because of your disability or your disability income.

☆ A mom of a disabled child receives $5,000 a month through an Oregon paid caregiver program — but she's scared of what will happen when the payments stop this year
▼ + stars: | 2022-07-23 | by ( Leo Aquino | Stephanie Hallett | Read More | ) www.businessinsider.com time to read: +6 min

Her daughter is disabled and requires round-the-clock care, so she's unable to work outside the home. Because their daughter is immunocompromised, the family have been isolating and taking extra precautions even before the COVID-19 pandemic started. Parents themselves are not eligible to be paid as caregivers for their own children through this program. However, according to the Oregon Office of Developmental Disabilities Services (ODDS), paying parents of minor children with disabilities for their caregiving services was "prohibited" under Medicaid rules before the pandemic. Now, through that Medicaid program, the family receive $5,000 a month for their daughter's full-time care.

☆ I pay about $36 a month for disability insurance, and I sleep better knowing I'll have $5,000 a month to cover my bills if I can't work
▼ + stars: | 2020-08-18 | by ( Eric Rosenberg | Freelance Writer | Read More | ) www.businessinsider.com time to read: +6 min

If you don't get disability insurance as a benefit at work, it may be worth signing up for a disability insurance policy on your own. After that wake-up call, she signed up for disability insurance from Freelancers Union, a nonprofit that offers a range of services and benefits to freelancers, including disability insurance. What to look for in a disability insurance policyWhen setting up my disability insurance, there were a few important areas I wanted to review before signing on the dotted line:Monthly cost for desired coverage: Cost is a top consideration with any insurance product. Ultimately, your disability insurance should cover your essential monthly bills if you are unable to earn a paycheck. Social Security Disability Insurance may offer you coverage as well, but it's likely not enough to cover your bills on its own.

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