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FINANCIAL FOCUS

What does an unplanned career transition mean?

The COVID-19 pandemic has unsetlifestyle—what you planned to do, where other key income-related issues. sufficient, you may have already suppletled the country’s employment picyou hoped to live, etc.—to meet your new • Insurance—If you received health inmented it with your own policy, but, if you ture for months and will likely conreality? surance through your employer, an early haven’t, you may need to shop around for tinue to do so for a while. However, the • Income—Just how financially affectretirement could present you with a disome coverage, particularly if you have nature and terminology of this disruption ed you’ll be from an early retirement lemma, especially if you’re not quite old children still at home. You also may want varies greatly among individuals—some depends on several factors: how much enough for Medicare. You might be elito take this opportunity to review your have seen their jobs disappear, others you’ve already saved and invested, gible for COBRA, which provides ex-emkey financial accounts to make sure your have been “furloughed” and still others whether you’re married and have a workployees and their dependents the option beneficiary designations still accurately have been offered an early retirement. If ing spouse, whether you’ve paid off your of continued health insurance for potenreflect your wishes. you’re in this final group—those either mortgage, and so on. In any case, though, tially up to 36 months, but this coverage Going through an unplanned career offered, or feeling forced to accept, an earyou’ll need to answer several questions, can be expensive. As an alternative, you transition is certainly challenging. But ly retirement, how should you respond? including these: Do I need to start taking might be able to negotiate an extended looking closely at the four areas described

Try to look at your situation holistically, withdrawals from my IRA and 401(k)? severance package, which could provide above, and making the appropriate rather than strictly in a short-term manIf so, how much can I afford to take out you with health insurance for several moves, may help you reduce some of the ner. Consider these four areas: each year without running the risk of outmonths. Or, you might be able to get on stress and can put you in a better position • Retirement—What does retirement living my resources? Should I adjust my the health insurance plan of your working to start the next phase of your life. really look like to you? Are you ready current investment mix? If I haven’t yet spouse. to fully retire or would you like to work started collecting Social Security, should • Legacy—Many people want to take care This article was writpart time? Are you confident that you can I do so now or can I afford to wait until of their family while they’re alive—and ten by Edward Jones work somewhere else for a few years bemy monthly payments will be bigger? Are leave something behind when they’re for use by your local fore retiring on your own terms? If you’re there any other sources of income I can gone. If you take an early retirement, you Edward Jones financial not certain you can work elsewhere, how leverage? You may want to work with a fimight lose your employer’s group life inadviser. Edward Jones. can you adjust your desired retirement nancial professional to address these and surance. Of course, if this plan was not Member SIPC.

HonorHealth, FastMed merge for integration of care

BY CHRISTINA FUOCO-KARASINSKI

Foothills Focus Executive Editor

HonorHealth and FastMed Urgent Care have formed a joint venture to operate all 30 of FastMed’s clinics in the Phoenix and Tucson areas.

These clinics provide urgent care and occupational health services, in person and via telemedicine, and will be clinically integrated with HonorHealth’s five acute-care hospitals, physician practices, outpatient surgery centers and other network services.

The clinics include those at 7730 E. McDowell Road, Suite 101, and 4902 E. Shea Boulevard, Suite 101, both in Scottsdale.

HonorHealth and FastMed share a common goal to deliver high-quality, convenient and affordable care. The new partnership enables both organizations to capitalize on each other’s strengths by combining HonorHealth’s primary, secondary and tertiary care presence in the Phoenix metropolitan area with FastMed’s retail presence in the Phoenix and Tucson areas.

“We are committed to investing in our communities as we strive to improve the health and well-being of those we serve,” said Todd LaPorte, CEO, HonorHealth. “By partnering with FastMed, our patients will have increased access to urgent care and occupational health services that are closer to where they live and work.”

Web Golinkin, CEO of FastMed, added, “We are excited about our new partnership with HonorHealth because it will give our Arizona patients seamless access to higher levels of care when this is required. We must be part of the local health care ecosystem in order to provide maximum value to both patients and third-party payers, and we are proud to have achieved this through our partnership with HonorHealth.”

FastMed is the only independent urgent care operator in Arizona to hold The Joint Commission’s Gold Seal of Approval for health care quality, safety and infection control. FastMed is also the nation’s first urgent care operator to implement the Epic electronic medical record (EMR) system. HonorHealth also uses Epic as its EMR, which will allow for better care coordination between the two organizations.

The seven existing HonorHealth Urgent Care locations, which will remain wholly owned and operated by HonorHealth, will continue to provide access to care and services to patients who live in those communities.

HonorHealth and FastMed will share ownership in the new venture, with FastMed managing day-to-day operations of the joint venture’s urgent care clinics and related services. Subject to regulatory approvals and other closing conditions, the transaction is expected to close in the fourth quarter of 2020.

Info: honorhealth.com, fastmed.com