Focusing on your financial wellbeing

This bulletin was sent at 05/05/2020 10:50 AM CDT

SEGIP Newsletter

Focusing on your financial wellbeing

The COVID-19 pandemic can affect our physical, mental, and financial health. Two weeks ago, we shared material to help support your mental health. This week, we’ve gathered benefit information and other resources that can help you manage your financial wellbeing.

Take steps to improve your finances

Talk to a financial counselor for free. Take advantage of our Employee Assistance Program, which provides five free visits a year, per topic. You can meet with a financial expert to design a budget that works for you, review your credit report, discuss housing or vehicle purchases and more. Call 1-800-657-3719 to talk to a consultant.

Use our wellbeing program to tackle a financial goal. Our wellbeing program offers activities that help you build a healthy habit of your choice. Log in to Virgin Pulse and use the Journeys program to build your financial wellness. There are courses designed to help you plan for emergencies, shrink your debt, organize your finances, stash some cash, or maintain your finances.

Check in on your retirement accounts. Global markets have changed since COVID-19 began affecting commerce. Get a better understanding of how this has affected your retirement accounts and what you can do to stay on track by talking to a Minnesota State Retirement System (MSRS) representative. Request an appointment or call them at 651-296-2761, Monday through Friday, 8 a.m to 4:30 p.m.

Make your money count

Take advantage of a pharmacy benefit for select medications. Did you know you can fill a 90-day prescription of qualifying medications for the cost of two copayments? This service is available at in-network pharmacies and mail-order services. Log in to your CVS Caremark account to learn more.

Earn a financial reward for next year. Earlier this year, SEGIP launched a new wellbeing program. Challenge yourself to participate in healthy activities by Oct. 31. When you collect 200 points, we’ll pay the first $70 of your deductible in 2021. Find out how to get started.

Adjust your pre-tax contributions. Depending on your situation, you may want to adjust your pre-tax contributions to select expense accounts. Complete the forms from 121 Benefits to make changes to your dependent care (daycare) or transit expense accounts and email them to segip.mmb@state.mn.us. Federal law does not allow any changes to your medical and dental expense account (MDEA) at this time.

Understanding medical benefits and what you pay for care

Costs of COVID-19-related services. SEGIP members are responsible for any applicable copays, coinsurance, and deductibles related to COVID-19 treatment. You will not have any cost-sharing for COVID-19 testing.

Free virtual care. As a part of your SEGIP benefits you can receive online care visits at no cost to you. This allows you to discuss your condition with a health care provider and make a treatment plan from the safety and convenience of your home, whether it's related to COVID-19 or common illnesses. Use your health plan administrator's designated vendor to access these services:
- BlueCross BlueShield members: use Doctors on Demand or virtuwell - HealthPartners member: use Doctors on Demand or virtuwell - PreferredOne: use MDLive or virtuwell

Really sick? See if you qualify for short term disability due to COVID-19. If you are unable to work due to your illness and are enrolled in the short-term disability plan, you may qualify for benefits under that policy. Short-term disability collections begin after eight days of an illness or pregnancy, or on the first day after an accident. Documentation from your physician is required. Find out more and how to apply.

Upcoming wellbeing webinars

Throughout the month, we’re hosting a series of webinars to support your health and wellbeing. All the courses are free, and take place from noon to 1 p.m.

Conquering time: Thursday, May 7. Get helpful insights that can help you manage your time more effectively, including common mistakes and easy ways to improve. Register now using session number 966 155 480 and password 8AKm5mJt.

Healthy remedies for managing stress: Thursday, May 14. Learn more about the sources and symptoms of stress and get helpful tips that can help you manage daily stress. Register now using session number 961 496 158 and password 8AKm5mJt.

Mind-body wellness: Tuesday, May 19. Discover how to practice mindfulness. Learn about the benefits and different ways you can slow down, get centered, and stay focused. Register now using session number 964 339 142 and password 8AKm5mJt.

Stress or success: Thursday, May 28. There is no magical cure for stress, but there are ways you can reduce it. Learn practical steps to help you cope with stress. Register now using session number 962 514 836 and password 8AKm5mJt.

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