To provide relief for New Mexico policy/certificate holders residing in Lincoln County and the Mescalero Apache Reservation and affected by the wildfires, Aflac will provide the following protections for policy/certificate holders:
In addition to the above, Aflac through Aflac Benefits Solutions will provide the following protections for Network Dental and Vision members and providers:
Affected members should contact Aflac Benefits Solutions at 855-819-1873, option 1, for assistance.
To help provide relief for Oregon policyholders residing in the state that have been affected by the wildfires, Aflac will provide a premium grace period starting July 12, 2024, and ending Nov. 11, 2024. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder.
For Network Dental and Vision Members:
This grace period also provides an extension of filing deadlines for claims; relaxation of prior authorization, precertification, and referral requirements; access to appropriate out-of-network providers due to unavailability on in-network providers or the members’ displacement; and leniency for any other action required under the certificate. A replacement copy of the certificate will be provided upon request by the certificate holder. Affected members should contact Aflac Benefit Solutions (formerly Argus Dental and Vision) at 855-819-1873, Option 1, for assistance.
To help provide relief for California policyholders residing in Los Angeles, Orange, Riverside, and San Bernardino counties affected by wildfires, Aflac will provide a premium grace period starting Sept. 5, 2024, and ending Nov. 11, 2024. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder.
For Network Dental and Vision Members:
This grace period also provides an extension of filing deadlines for claims; relaxation of prior authorization, precertification, and referral requirements; access to appropriate out-of-network providers due to unavailability on in-network providers or the members’ displacement; and leniency for any other action required under the certificate. A replacement copy of the certificate will be provided upon request by the certificate holder. Affected members should contact Aflac Benefit Solutions (formerly Argus Dental and Vision) at 855-819-1873, Option 1, for assistance.
To help provide relief for California policyholders residing in Lake County affected by wildfires, Aflac will provide a premium grace period starting Sept. 8, 2024, and ending Dec. 2, 2024. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder.
For Network Dental and Vision Members:
This grace period also provides an extension of filing deadlines for claims; relaxation of prior authorization, precertification, and referral requirements; access to appropriate out-of-network providers due to unavailability on in-network providers or the members’ displacement; and leniency for any other action required under the certificate. A replacement copy of the certificate will be provided upon request by the certificate holder. Affected members should contact Aflac Benefit Solutions (formerly Argus Dental and Vision) at 855-819-1873, Option 1, for assistance.
To help provide relief for Tennessee policyholders Aflac will provide a premium grace period starting Sept. 26, 2024, and ending Nov. 25, 2024. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. As further protection, insurance professionals licensed in other states, but not holding Tennessee licenses will be permitted to assist Aflac policyholders. Agents must contact Tennessee Department of Insurance for permission on a case-by-case basis for this accommodation. Aflac will provide a replacement copy of the policy upon request by the policyholder.
To help provide relief for North Carolina policyholders Aflac will provide a premium grace period starting Sept. 27, 2024, and ending Nov. 26, 2024. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder.
For Network Dental and Vision Members:
This grace period also provides an extension of filing deadlines for claims; relaxation of prior authorization, precertification, and referral requirements; access to appropriate out-of-network providers due to unavailability on in-network providers or the members’ displacement; and leniency for any other action required under the certificate. A replacement copy of the certificate will be provided upon request by the certificate holder. Affected members should contact Aflac Benefit Solutions (formerly Argus Dental and Vision) at 855-819-1873, Option 1, for assistance.
To help provide relief for Florida policyholders Aflac will provide a premium grace period starting Sept. 26, 2024, and ending Nov. 26, 2024. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder.
For Network Dental and Vision Members:
This grace period also provides an extension of filing deadlines for claims; relaxation of prior authorization, precertification, and referral requirements; access to appropriate out-of-network providers due to unavailability on in-network providers or the members’ displacement; and leniency for any other action required under the certificate. A replacement copy of the certificate will be provided upon request by the certificate holder. Affected members should contact Aflac Benefit Solutions (formerly Argus Dental and Vision) at 855-819-1873, Option 1, for assistance.
To help provide relief for Georgia policyholders Aflac will provide a premium grace period starting Sept. 24, 2024, and ending Nov. 25, 2024. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder.
For Network Dental and Vision Members:
This grace period also provides an extension of filing deadlines for claims; relaxation of prior authorization, precertification, and referral requirements; access to appropriate out-of-network providers due to unavailability on in-network providers or the members’ displacement; and leniency for any other action required under the certificate. A replacement copy of the certificate will be provided upon request by the certificate holder. Affected members should contact Aflac Benefit Solutions (formerly Argus Dental and Vision) at 855-819-1873, Option 1, for assistance.
To help provide relief for South Carolina policyholders Aflac will provide a premium grace period starting Sept. 25, 2024, and ending Nov. 25, 2024. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder.
For Network Dental and Vision Members:
This grace period also provides an extension of filing deadlines for claims; relaxation of prior authorization, precertification, and referral requirements; access to appropriate out-of-network providers due to unavailability on in-network providers or the members’ displacement; and leniency for any other action required under the certificate. A replacement copy of the certificate will be provided upon request by the certificate holder. Affected members should contact Aflac Benefit Solutions (formerly Argus Dental and Vision) at 855-819-1873, Option 1, for assistance.
To help provide relief for Florida policyholders Aflac will provide a premium grace period starting Oct. 5, 2024, and ending Dec. 10, 2024. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder.
For Network Dental and Vision Members:
This grace period also provides an extension of filing deadlines for claims; relaxation of prior authorization, precertification, and referral requirements; access to appropriate out-of-network providers due to unavailability on in-network providers or the members’ displacement; and leniency for any other action required under the certificate. A replacement copy of the certificate will be provided upon request by the certificate holder. Affected members should contact Aflac Benefit Solutions (formerly Argus Dental and Vision) at 855-819-1873, Option 1, for assistance.
To provide relief for New Mexico policy/certificate holders residing in Chavez County and affected by the severe flooding, Aflac will provide the following protections for policy/certificate holders:
In addition to the above, Aflac through Aflac Benefits Solutions will provide the following protections for Network Dental and Vision members and providers:
Affected members should contact Aflac Benefits Solutions at 855-819-1873, option 1, for assistance.
To help provide relief for California policyholders residing in Siskiyou County affected by wildfires, Aflac will provide a premium grace period starting July 3, 2024, and ending Dec. 31, 2024. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder
For Network Dental and Vision Members:
This grace period also provides an extension of filing deadlines for claims; relaxation of prior authorization, precertification, and referral requirements; access to appropriate out-of-network providers due to unavailability on in-network providers or the members’ displacement; and leniency for any other action required under the certificate. A replacement copy of the certificate will be provided upon request by the certificate holder. Affected members should contact Aflac Benefit Solutions (formerly Argus Dental and Vision) at 855-819-1873, Option 1, for assistance.
To help provide relief for California policyholders residing in Sierra County affected by wildfires, Aflac will provide a premium grace period starting Sept. 2, 2024, and ending Dec. 31, 2024. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder
For Network Dental and Vision Members:
This grace period also provides an extension of filing deadlines for claims; relaxation of prior authorization, precertification, and referral requirements; access to appropriate out-of-network providers due to unavailability on in-network providers or the members’ displacement; and leniency for any other action required under the certificate. A replacement copy of the certificate will be provided upon request by the certificate holder. Affected members should contact Aflac Benefit Solutions (formerly Argus Dental and Vision) at 855-819-1873, Option 1, for assistance.
To help provide relief for California policyholders residing in Ventura County affected by wildfires, Aflac will provide a premium grace period starting Nov. 6, 2024, and ending Jan. 07, 2025. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder
For Network Dental and Vision Members:
This grace period also provides an extension of filing deadlines for claims; relaxation of prior authorization, precertification, and referral requirements; access to appropriate out-of-network providers due to unavailability on in-network providers or the members’ displacement; and leniency for any other action required under the certificate. A replacement copy of the certificate will be provided upon request by the certificate holder. Affected members should contact Aflac Benefit Solutions (formerly Argus Dental and Vision) at 855-819-1873, Option 1, for assistance.
To help provide relief for North Carolina policyholders, Aflac will provide a premium grace period starting Sept. 27, 2024, and ending Dec. 31, 2024. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder.
For Network Dental and Vision Members:
This grace period also provides an extension of filing deadlines for claims; relaxation of prior authorization, precertification, and referral requirements; access to appropriate out-of-network providers due to unavailability on in-network providers or the members’ displacement; and leniency for any other action required under the certificate. A replacement copy of the certificate will be provided upon request by the certificate holder. Affected members should contact Aflac Benefit Solutions (formerly Argus Dental and Vision) at 855-819-1873, Option 1, for assistance.
By Keith Farley, senior vice president, Individual Voluntary Benefits, Aflac
A lot can change quickly when it comes to the economy. Take for instance this past year: In March a U.S. recession seemed imminent, with many economists predicting a downturn by midyear.1 Come September, Goldman Sachs lowered its probability of a 2023 recession to 15% – the third reduction in as many months – following the example of many other Wall Street analysts.2 From a resilient labor market3 to robust consumer spending,4 there are many economic indicators to watch. Similarly, there are signs to watch for when it comes to our personal financial security and some of those signs indicate that many Americans are not as financially secure as they may think. For example, credit card debt recently hit a new milestone of $1 trillion,5 and loan delinquencies are climbing steadily.6 Inflation has cooled over the past year, but at 3.5%, many Americans are still feeling squeezed.7
It’s an uncomfortable fact that a lot of us are just getting by, and one unexpected event – like a surprise medical bill or a layoff – can disrupt that balance. In fact, the 2023 Aflac Workforces Report indicates that nearly 50% of American employees would not be able to come up with $1,000 to cover an emergency health issue. That said, there is a simple approach that can help build financial security: spend less, save more and — to make it a truly wholistic financial plan — manage risks.
Spend smart
The best first step you can take is to analyze where your money is currently going. While this may feel elementary, data from the Aflac Risk Survey shows that many Americans are reprioritizing their spending. The majority of Americans are making changes to their finances this year, and the majority (91%) are reducing household spending.8
One of the easiest ways to manage a budget is to use a tool that automatically analyzes your spending for you. Many banking and credit institutions provide this to their customers, free of charge. Between food deliveries, online shopping and recurring subscription fees for services you may not even be using, these tools can reveal ways to cut costs. It’s important to ask yourself whether these expenses align with your financial goals or are standing in your way, in addition to considering whether there are cheaper alternatives available.
Save smarter
This is another seemingly simple idea, yet it is anything but. Whether your discretionary income is $100 per month or $10,000, a savings plan is an absolute must. And where you save matters. Many experts recommend a well-rounded approach that includes a more liquid savings account — something you can access quickly in the event of an emergency, like if you need car repairs or lose your job — along with short- and long-term investment accounts that generate significant and compound interest over time.
This is not uncommon. According to our survey, of the Americans surveyed who are making financial changes, one-third (33%) are creating or expanding an emergency savings account, and 27% are increasing investments, including stock market, retirement accounts, cryptocurrency, bonds and precious metals.1
For those who are new to the workforce, it’s never too early to ask yourself: What does your savings plan look like? Are you on track for retirement but lack an emergency fund? Are you a stock market maven but have little or nothing put away for retirement? For those who have been in the workforce for some time, asking these questions today is infinitely better than asking them tomorrow, or months or years from now.
And now that you have a grasp on what you need to cover monthly expenses, take what’s leftover — no matter how much or how little — and create an automated savings plan where it automatically goes into a savings or retirement account. You’ll be surprised by how quickly it grows.
Expect the unexpected
At this point, you’ve adjusted your monthly expenses and created a savings plan, but what if the unexpected happens? Is a major medical expense going to throw you off track for your financial goals, or do you have the protection in place to ensure you don’t have to dip into savings/retirement or take on excess debt?
Becoming financially confident means protecting yourself, and the past few years have taught us that we can never be too prepared to face the unexpected. Whether you’re one of the 47% of Americans who consider themselves risk-takers, or you prefer to play it safe, this is an area that can pay dividends in the event of an emergency that is not covered by major medical insurance or your savings.
For example, self-identified risk-takers may want to consider supplemental insurance that covers healthcare costs that primary health insurance does not. Many may not realize that they may have access to this benefit through their employer, and even fewer truly understand the level of protection offered with a policy. There are myriad plans available which cover accidents, specific illnesses, mental health concerns and more, so regardless of which risks you are most susceptible to, there is a plan that offers you extra protection against the expected (and unexpected).
Working your way toward financial confidence is simple, but just because it’s simple doesn’t mean it’s easy. It takes time, discipline and consistent attention. No matter who we are or what we do, there are many things – financially, professionally and personally – that we cannot control, and that can be scary. But we can make that uncertainty easier on ourselves by adopting positive habits. With a little financial education and advanced planning, you rest easy knowing that, no matter what life throws at you, you’re better prepared for the unexpected.
1“Why the Recession Is Always Six Months Away.” The Wall Street Journal, March 9, 2023. https://www.wsj.com/articles/godot-recession-federal-reserve-powell-d50ba71f.
2 “Markets Remain Anxious, despite Falling Odds of a Recession.” The New York Times, Sept. 5, 2023. https://www.nytimes.com/2023/09/05/business/dealbook/markets-falling-recession-odds.html.
3 “America Added 306,000 Fewer Jobs Last Year than We Thought. but the Labor Market Is Still Hot.” CNN, Aug. 23, 2023. https://www.cnn.com/2023/08/23/economy/us-jobs-data-annual-revisions/index.html.
4 “The Incredible American Consumer.” Financial Times, Sept. 5, 2023. https://www.ft.com/content/327bf4f7-5330-4f25-ac88-ace77955fc07.
5 “Credit Card Balances Hit New Peak.” The New York Times, Aug. 18, 2023. https://www.nytimes.com/2023/08/18/your-money/credit-card-debt.html.
6 “Credit Card, car loan delinquencies rise above pre-pandemic levels.” Aug. 15, 2023. https://www.axios.com/2023/08/15/credit-loan-delinquency-2023-above-pre-pandemic-levels.
7 “US Inflation Has Steadily Cooled. Getting It down to the Fed’s Target Rate Will Be the Toughest Mile.” AP News, Aug. 8, 2023. https://apnews.com/article/inflation-prices-costs-economy-federal-reserve-rates-67149484e11abd8d0d18e0fdd69ec256.
8 “Survey Asks Americans, ‘What Seems Risky to You?’” Aflac Incorporated, Sept. 21, 2022. https://newsroom.aflac.com/2022-09-21-Survey-asks-Americans,-What-seems-risky-to-you.
