Here are 5 ways couples can work together during the coronavirus pandemic to protect their finances. (via CNBCMakeIt)
It's a good idea to try and limit unnecessary spending, especially when "many people are taking voluntary pay cuts" or being laid off, O'Keeffe Merrick says.
Next, look at your necessary expenditures, such as food and rent. Some of these expenses may be flexible, like groceries. If you normally by all name brand, premium products, you can try switching to generic items until the economy recovers. Start by making sure you have your provider's name and your policy number written down in a convenient place. You'll need your policy number each time you call your provider to ask questions.whether your partner is covered under your policy and what your deductible and maximum out-of-pocket costs are, if they're listed. You should also understand how your co-insurance works. This is the percentage you pay for care after you've met your deductible.
If you have life insurance, you should also call your provider and ask who's listed as your beneficiary, or the person who's eligible to receive your trust if you pass away. This information may need to be updated. If you have an ex-spouse, for example, they may still be listed as your beneficiary.
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