The Center for Financial Security at the University of Wisconsin-Madison, in collaboration with the Division of Extension, hosted a webinar on April 27th. The purpose of the webinar was to provide timely resources, information, and updates on Wisconsin state agency responses to the COVID-19 pandemic, which has impacted the financial well-being of households across the state. The information and resources were especially helpful for Wisconsin-based practitioners, educators, and those working with the public to address financial issues resulting from the COVID-19 crisis.
Presenters included representatives from the Wisconsin Department of Agriculture, Trade, and Consumer Protection (DATCP), Department of Financial Institutions (DFI), Department of Workforce Development (DWD), Department of Children and Families (DCF), Department of Health Services (DHS), and the Wisconsin Housing and Economic Development Authority (WHEDA).
The novel coronavirus, also known as COVID-19, has caused devastating financial strain on families and individuals nationwide. From unprecedented levels of people applying for unemployment insurance, constantly shifting policy responses, and the impacts on housing and food insecurity, CFS experts are available and being called upon to provide insights on the crisis. A UW-Madison COVID-19 Experts list was released to help guide media to appropriate researchers.
The coronavirus, also known as COVID-19, is impacting households, communities, and businesses. A new national survey shows that 1 in 5 households in the US have already had their income cut or stopped altogether. UW-Madison Division of Extension has put together a list of frequently asked questions that highlight some common financial challenges as a result of the COVID-19 pandemic. The answer to each question has links to government websites and the types of assistance that might be available. The resource list will be added to as new policies and resources are put into place.
This February 26th webinar focused on a recent study exploring how housing assistance may influence people’s decision to apply for and receive Supplemental Security Income (SSI) benefits. The research was presented by Erik Hembre, who conducted the study with Carly Urban at the Center for Financial Security Retirement and Disability Research Center, supported by the Social Security Administration. Discussants, Kathleen Moore, a researcher and contractor with the Administration for Children & Families, and Arthur Jacobs, Housing Coordinator for the Mayor’s Office of People with Disabilities in New York, provided commentary on the implications of the study.
“Planning for and managing out of pocket medical costs is an emerging form of financial literacy that all of us need to be aware of, including older people for whom health care expenses are a rising part of their retirement spending,” said J. Michael Collins, Faculty Director of CFS and Professor in La Follette School of Public Affairs and the School of Human Ecology, in a recent live interview with Yahoo Finance. Collins spoke about the impact of people choosing to use less healthcare as out-of-pocket costs rise, a decision that could lead to greater health and financial outcomes in the long run.