• Make a plan with a financial coach: Memorial Hermann employees have access to unlimited one-on-one financial coaching through DailyPay. Work with a financial counselor to create an action plan, adjust it as your needs change and stay on track toward your goals. Coaching is available in English and Spanish. In the DailyPay app, select Perks > Financial Tools > Free Financial Counseling. You do not need to set up direct deposit accounts with DailyPay to access coaching.
• Explore self-service budget-building resources: Use the planning and budgeting tools available through Fidelity’s NetBenefits to set goals and track your progress.
  • Budgeting Tool: Make a budget in a few simple steps. The tool also helps you categorize your expenses (e.g., housing, entertainment, dining) and take control of your spending so you can reach your savings goals.
  • Spending Dashboard: Gain clarity around how much you’re spending across categories to help make informed adjustments.
• Manage short-term cash flow needs: DailyPay can also help you access your earned wages before payday when something can’t wait. Because taking money early means less will be available in your next paycheck, use it thoughtfully for short-term needs rather than as part of your regular spending.
• Understand hardship withdrawals. If you’re facing a financial emergency, a hardship withdrawal may allow you to access funds for specific qualifying needs (such as medical expenses, preventing eviction or foreclosure, or funeral expenses) without the higher cost and short repayment terms of options like payday loans. Hardship withdrawals may still be subject to taxes and penalties, and they reduce your balance and potential growth over time, so it’s worth reviewing the details with Fidelity to understand what a withdrawal would mean for your specific situation before deciding. Before moving forward, review Fidelity’s article on 401(k) withdrawals and speak with Fidelity about the long-term impact.
• Look for ways to stretch your budget: The Employee Discount Spot can help you save on everyday expenses, like health and wellness products, and large purchases, like appliances and electronics.  

• Use Fidelity tools and resources: Explore Fidelity’s Learning Center for tools and education on understanding credit and paying debt. Featured resources include:
  • Fidelity Debt Tool
  • 8 Ways to Help Improve Your Credit Score
  • Why Your Credit Score is Important
  • Good Debt vs. Bad Debt
  • 3 Ways to Build Your Credit History
  • Fidelity Life Events (topics include Getting Divorced, Losing a Loved One, Experiencing Illness or Injury, and more)
• Get help paying down eligible student loans: Student loan payments can make it harder to save, manage everyday expenses or plan for other goals, especially while you rebuild.
  • Learn Well: You may be eligible for monthly student loan payments from Memorial Hermann to help reduce what you owe. Visit Learn Well to review eligibility, payment amounts and program requirements.
  • Public Service Loan Forgiveness (PSLF): You may also be eligible for federal PSLF, which can forgive remaining student loan balances after qualifying payments at a qualifying employer. Because this is a federal program, eligibility rules are subject to change. Visit studentaid.gov/pslf to check eligibility and submit the required Employment Certification Form.
• Talk through your student loan repayment strategy: If you have additional questions or just want to talk out your plan with someone, schedule a free student loan debt coaching session with EdAssist.

As you work to stabilize your finances in the short-term and manage debt, retirement and emergency savings may start to come back into focus.

If you had to pause or reduce your retirement savings for a while, begin with an amount that fits your budget and begin working your way back toward the full Memorial Hermann match: up to 6% of your pay (or up to 3% if you are eligible for the Memorial Hermann Pension Plan) each pay period that you participate. You can always increase your contribution as you regain financial flexibility.  

Fidelity Goal Booster can help you explore your savings and investing options, manage your goals, and start saving today.

• Protect your income if you can’t work: If an illness or injury keeps you from working, disability coverage can replace a portion of your income so you can continue managing everyday expenses while you recover.
  • If you have been working at Memorial Hermann for less than one year, you may want to consider enrolling in employee-paid Short-Term Disability coverage before you become eligible for the employer-paid plan.
• Protect the people who depend on you: Life and AD&D insurance can help provide financial protection for the people who depend on you and the financial commitments you’ve taken on. Review your beneficiary information periodically to make sure it still reflects your wishes. You can update your beneficiary(ies) anytime in Workday.
• Prepare for health events: Health events, whether planned or unexpected, can throw off the budget you are working hard to rebuild. Some preparation can keep costs in check. For example, if you are anticipating needing surgery, reach out to Aetna Concierge Member Advocate for support understanding your benefits. This flyer can help you understand your maternity costs as part of the Memorial Hermann Maternity Experience Program. And, don’t forget about Voluntary Health Plans (often called “supplemental health plans”), which provide a lump-sum cash benefit directly to you after a covered critical illness, accident or hospitalization (including planned surgeries and childbirth). Enroll in one, two or all three plans.
• Protect your vehicle, home and belongings: Auto, home and renters’ insurance options are available through Beneplace to help limit the financial impact of covered damage or loss.
• Plan for pet expenses: Pet insurance through Nationwide can help manage unexpected veterinary costs with coverage for eligible accidents, injuries, illnesses, surgeries, X-rays, preventive care and prescriptions.
• Get help with certain legal and identity theft issues: If you’re enrolled in the MetLife Group Legal Plan, you have access to expert legal advice for personal legal matters. If identity theft affects your finances, an attorney can also help you contact banks and creditors and address certain legal issues resulting from identity theft.