This brief examines the characteristics of credit counseling clients who experienced problems paying for their medications and analyzes which factors affect clients’ ability to pay for prescriptions. The data used in this brief were collected by Clarifi, a leading nonprofit financial counseling provider that serves about 15,000 Philadelphia-area residents each year. In the summer of 2016, Clarifi surveyed a sample of its non-housing counseling clients to document their credit status and medication use.
Background: Over the past decade, a number of studies have explored how household finances affect individual health outcomes. Medication adherence is a common subject of these studies, as prescription drugs are both potential stressors for already stretched budgets and key elements of successful treatment for many conditions. Even in households that have insurance coverage for prescription drugs, the co-pays required by many insurance plans may be difficult for households to manage, and for households without insurance, prescription drug costs may be prohibitive. But failing to fill a prescription or quitting a medication regimen early can lead to worse overall health in the long run—when patients fail to take medications as directed, their risk of hospitalization increases and their health care costs generally go up (Viswanathan et al. 2012; Roter et al. 1998). Because they may determine the ability to afford medications, then, household finances may also be a determinant of clients’ overall health.
Thus, interventions that support positive financial management behaviors may, in turn, improve individuals’ health. The first step in developing such interventions is understanding the characteristics and needs of those who would benefit from them.
Please join the Center for Financial Security for a webinar to discuss a recent case study project conducted by CFS and supported by the Annie E. Casey Foundation. CFS interviewed financial coaching organizations from across the U.S. about their strategies for making their programs more inclusive and accessible to the communities they serve.
Retirement planning and saving is often a difficult task for individuals and families. Studies show that more than one in four workers have less than $1000 in retirement savings. The question of how to stimulate employees to save for retirement has led to a variety of different tactics. Our March 1st webinar, discussed a 
For many people who receive a tax refund, tax time can be the perfect moment to start putting away money for retirement or paying down debt. J. Michael Collins offers a range of options and insights into the best ways to make your refund work for you in an article for 
The 
The Consumer Financial Protection Bureau (CFPB) has released new resources for financial educators including 
FINRA released results of the 
Retirement planning is a difficult task for many people in the U.S. and 
The Consumer Financial Protection Bureau (CFPB) released the Money as You Grow book club materials on their website, which can be accessed 
April 24 through April 25, 2017, the 
Research Panel Presentations:
Financial Coach Training and Preparation Competencies:
Opportunities to Stay Engaged: 
Date: June 8-9, 2017
Assistant Professor, Economics 
Faculty Director, Center for Financial Security
Assistant Professor,La Follette School of Public Affairs and Agricultural & Applied Economics