4 Ways to Financially Prepare for a Leave of Absence
There is something brave about doing what needs to be done first to ensure your health and wellness. Because admitting something may be wrong or that you need help can be challenging.
I want to ask you an important question. When was the last time you saw a doctor?
Think about it. When was the last time you had a check-up or annual visit? Why are you delaying your visit?
I ask this because I know us, and I know me. We push things back, and we hold things off, and we say I seem fine, I don’t need to see a doctor. Sometimes we already know there is something wrong, and our physicians are just waiting for us to schedule the surgery or the follow-up, but we delay it. A CNBC article shared that people ages 24 to 39 reported avoiding the doctor’s office at higher rates, and a lot of that reason is cost.
A lot of the reason why I delayed care was because of the healthcare insecurities that I faced early in my career, even with a full-time job. So I went back to corporate America for a job with better health care. I share why I took a break from L2L for self-care on the Calm blog.
Here are some resources or tips to help you chip away at any health care insecurities you may have and put your health first:
Build a financial cushion or savings
Find a way to stack your paper before taking medical leave or sabbatical. You can find quick clients to do work for, consult, host a workshop or put extra energy into your side hustles to reach your goals.
Tell your friends and family
You’re not alone. Tell the community that supports you what is happening. Everyone will ask how they can help you through this time and if you need more than thoughts and prayers, it is your opportunity to ask if someone could cover a bill or two while you are out. Paying a water bill is cheaper than gifting an Edible Arrangement or bouquet.
Know and understand your benefits
Set up some time with HR at work and the insurance company to go over your medical or mental health leave options and what is covered. Understand what you are responsible for and how your monthly income will be impacted. Your company may offer a health savings account or flexible spending account.
Disability Benefits
If leaving your job for a medical reason doesn’t come with income benefits, then look into your state’s disability benefits and apply for financial assistance while you are on leave.