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This is an especially important chapter that will potentially help you
through the sea of confusion with your benefits options. Hopefully,
you purchased this book before your baby arrived. If not, then
hopefully this can help you with future enrollment periods or future
children. Just as with your “what to take to the hospital list”, we’ve
left check boxes open for you to use this as a checklist for yourself
(use a pencil so you can erase them later in the event you have
additional children). We believe the information you’ll receive in
this chapter has the ability to save you $100s, if not $1,000s, in the
benefit choices you make and mistakes you hopefully don’t make!
FMLA - Family Medical Leave Act
Learning if your company complies with
the Family Medical Leave Act (from here out, “the Act”) and how you
can utilize it is very critical for you, your spouse and your baby.
We’ve detailed the following information to help you understand the
Act (in general terms), to define your responsibilities required by
the Act, and the various steps and timetables you need to know in
order to benefit from the Act. We cover the necessary documentation
you should make sure you receive before leaving to be sure your return
to work goes smoothly. For more detailed information and a list of
frequently asked questions regarding the Act and its provisions, visit
the Department of Labor’s website at
www.dol.gov.
Tip #1: Follow your company’s FMLA
procedures
If you are a
working mother (or parent), regardless of whether you will be after
your baby arrives, there are certain steps you must follow to be
approved for time off governed by the Family Medical Leave Act (FMLA).
The FMLA provides a period of up to 12 weeks for the birth or care of
a newborn child (along with other provisions) for employees working
for companies required to provide FMLA leave. These regulations hold
true for fathers and any direct guardians too.
Once you’re ready to announce your
pregnancy to your office or you have a potential scheduled date to
begin adoption proceedings, call to make an appointment with your
Human Resources Department (HR). In this meeting with HR, you will
want to confirm the following items:
o Confirm
if your company is required to provide FMLA leave of absences.
If your employer does not meet
the federal FMLA terms, they may not be required to offer FMLA leave.
If they are not required to provide this type of leave, ask HR how the
company handles maternity leave and the benefits associated with it.
In either case, request any necessary paperwork that needs to the
completed and returned.
o Confirm
if you are eligible.
Generally an employee is required to have
worked a full calendar year (12 months) and a minimum number of hours
(1250 hours) with an employer to be
deemed eligible. You will also want to confirm with HR if you are a
“key employee”. If you are a “key employee”, there are additional
provisions you may need to meet and confirm. Depending on your
individual situation, there may be other overall provisions that you
need to comply with, so be sure to clarify your eligibility with HR.
For the remaining 5 crucial steps you need to take to
ensure your return to work from your FMLA leave is a smooth one, order
your copy of "I Wish I Had Known That!" today! If you will be
returning to work after your baby arrives, this chapter and our
Chapter 11: Child Care alone will be worth your purchase investment!
Wills, Power of Attorney and
Living Wills
Okay, you’ve gotten yourself through the maze of your
medical benefits, but you’re not done yet. Additional “business” you
need to make sure is in order are your life insurance policies, your
beneficiaries are updated (if applicable) and your wills are drafted
(or updated). Yes, this may be uncomfortable to deal with, but you are
now responsible for a new baby and their welfare. Taking care of these
items full force and head on is the only way to ensure she can have
the type of life you want for her in the event of your death.
Tip #7: Advice on wills
Don’t
procrastinate like we did. Wills are not very expensive, but they can
make all the difference in the world. Make sure you handle power of
attorney wills and living wills, in addition to your overall will
before your baby is born.
A will
details how you wish your assets (and any other terms) to be handled
in the event of your death. A power of attorney allows your chosen
executor to have legal signature authority on your behalf if you are
incapacitated (so chose an executor you really trust!). A living will
legally details your medical wishes in the event you are incapacitated
with no promising chance of recovery.
Your
attorney will be able to advise you on how you should structure each
of your wills based on your situations. We were lucky we didn’t need
either of our wills (until we did finally get them done), but it would
have been an awful situation if things had gone differently without
these wills in place.
Extra, Extra!
This tip is
for any expecting moms reading this book. We mentioned this in our
“Extra Need-to-Knows” chapter and we believe it bears repeating. Make
sure you have your life insurance policy, will, power of attorney and
living wills handled before you deliver. Despite the
advances in medicine, child birth is still a taxing process for women.
We
don't want to sound insensitive; we just want to make sure you’re
financially savvy for your spouse and your baby. Unforeseen
complications may arise during delivery that can leave you
incapacitated, or may be fatal. Handling this “business” will make it
easier for your spouse to step in while you’re recovering or can
provide your family financial security if you pass away. |
