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Bonus Episode: COVID-19 Has Impacted My Income – What Are My Options?
No one could have predicted the outbreak we’ve seen from COVID-19, and it’s served as a wake up call for many people. We’ve all been impacted financially or emotionally or both, and now we’re getting a lot of questions about how we can manage finances when income is up in the air. On this bonus episode, we’ll look at the options you have during this uncertain time.
The healthcare industry prides itself in preparing for patient care but no one could have planned for what we’re seeing with the COVID-19 outbreak.
This pandemic has impacted all aspects of healthcare and CRNAs are no exception. With employment in question for many people, there’s a lot of worry and concern about what the future holds for many of our incomes. Independent contractors might see a loss of work altogether while full-time employees might be receiving reduced hours.
Thankfully, the government has passed its stimulus bill which is aimed to provide relief for workers across the country. It comes the same day that we’ve seen unemployment claims soar to over 3 million, which is by far the largest number our country has ever seen.
CRNAs are now wondering how this affects their income so we wanted to record this bonus episode to discuss your options. With Jeremy’s experience in financial planning with CRNAs, he’s been working with people on what to do right now. We will discuss the different things you should be considering, how unemployment works, and whether you qualify for it.
1:32 – Everyone is being impacted financially and emotionally right now.
4:08 – Things can change in an instant, like employment status, so you need to have an emergency fund.
7:19 – Roles and responsibilities for CRNAs are even changing during this pandemic.
10:09 – A lot of CRNAs are worried right now about income.
14:30 – Can I file for unemployment?
16:47 – What if you work for a company/hospital and get reduced hours?
18:09 – Options for hospital-employed CRNAs
22:03 – How is the unemployment amount calculated?
24:27 – Hopefully we all learn a lot from this experience once it passes.
26:32 – Basic financial steps you need to be taking everyday.
30:32 – Don’t forget that tax deadlines have been pushed back.
32:50 – Jeremy’s final message for everyone.