Money Management

WIC can help you and your children access healthy food. 

Despite the name, the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC) program is not only about nutrition. It also provides breastfeeding education and referrals to health and other services. According to the USDA, it helped around 6.2 million people in 2021, and specifically targets those who are at nutritional risk.

For many, the joy of bringing a baby into the world is unparalleled. But it can also bring financial and physical challenges, including an increased pressure on your bank account. For low-income families, WIC offsets a little of the burden by helping mothers and babies access healthy food.

How WIC works

While WIC is a federal program, it is operated at a state level, with 50 participating states and 33 Indian Tribal Organizations. Payments are almost always made via a WIC Electronics Benefit Transfer (EBT) card, which recipients can use to pay for approved products.

There’s a strict list of WIC-approved foods, which may vary slightly from state to state and depend on what category you fall under. For example, the foods a pregnant woman can buy through WIC may be different from someone who’s breastfeeding, and a four-year-old will have different nutritional needs from those of an infant.

Approved foods include fortified cereals, fruit and vegetables, eggs, dairy products, whole grain bread, and other options. USDA is in the process of modernizing the types of food to make it more flexible and accommodate different dietary needs.

Eligibility requirements

WIC is open to women who are pregnant, postpartum, or breastfeeding. Infants are eligible until their first birthday, and children are eligible until their fifth birthday. In addition, the following requirements apply:

Income (until June 30, 2023): Your household income must fall at or below 185% of the poverty income guidelines. For a household of four, that would mean earning less than $51,338 a year in most U.S. states. If you or a family member receives SNAP, Medicaid, or Temporary Assistance for Needy Families, you may automatically meet the income requirement.Location: WIC is available throughout the country, but you must live in the state in which you apply.Nutritional risk: This encompasses both medical risks, such as anemia and pregnancy complications, and dietary risks, such as not getting enough food. You will need to speak with a health professional to determine your risk level, but the screening process is free.

If you’re not sure whether you might be eligible, check out the WIC prescreening tool. You can also contact your state WIC agency for more information on the process.

Changes to WIC income requirements

WIC uses the federal poverty threshold to calculate its income requirements, and these will change from July 1, 2023. As a result, the maximum income for WIC eligibility — calculated at 185% of the federal poverty guideline — will increase slightly.

WIC maximum income in most U.S. states (July 1, 2023 to June 30, 2024)

What to do if you don’t qualify

WIC is aimed at a very specific group of people and not everybody will be eligible. However, there are several other forms of food assistance available. The biggest federal anti-hunger initiative is the Supplemental Nutrition Assistance Program (SNAP). In 2021, the program helped over 41 million people, according to the Center on Budget and Policy Priorities.

Unlike WIC, SNAP eligibility requirements are broadly financial. Generally speaking, households need to earn less than 130% of the federal poverty line and there’s a limit on how much cash they can have in their savings account. SNAP recipients have more flexibility on how they can spend their benefits. It is possible to qualify for both SNAP and WIC at the same time.

Food pantries and soup kitchens also provide vital support for families who are struggling to put food on the table. Search online for food pantries in operation near you and find out more about how they operate. These are run by nonprofit organizations and you won’t have to provide any proof of income, but you may need to show ID.

Bottom line

Dr. Sara Bleich, USDA Director of Nutrition Security and Health Equity says millions of eligible people don’t participate in the program, so if you’re a new mom it’s worth finding out if you could get this extra help. If you qualify, it can ease at least some of the financial stress of having a new baby and help give you and your child the nutrition you need.

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The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Emma Newbery has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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If you’re eligible for Medicaid, there’s no reason to leave money on the table. 

When Americans run into trouble with large medical bills, one of the first things they’re advised to do is check to see if they’re eligible for Medicaid. Using Medicaid coverage beats taking out a personal loan or medical credit card to pay the debt.

As of November 2022, there were 84.8 million people covered by Medicaid in the U.S. It is estimated that millions more are eligible but have not signed up or are unaware of their eligibility. Here, we outline who’s eligible for Medicaid, which medical services are covered, and how to proceed if you believe you qualify.

What is Medicaid?

Medicaid is a public insurance program that provides health coverage to eligible low-income adults, children, elderly adults, pregnant women, and people with disabilities. Programs follow federal guidelines but are administered by states. Medicaid is jointly funded by states and the federal government.

What’s covered?

How much coverage an individual can expect depends, in large part, on the state in which they reside. Federal guidelines are broad and give states a great deal of flexibility. Simply put, some states are far more generous than others with Medicaid benefits.

Federal law requires that states provide a particular set of mandatory benefits. It’s up to individual states to determine whether they want to cover any of the optional benefits.

Mandatory benefits

Inpatient hospital servicesOutpatient hospital servicesPhysician servicesEPSDT: Early and Periodic Screening, Diagnostic, and Treatment ServicesRural health clinic servicesFederally qualified health center servicesNursing facility servicesHome health servicesFamily planning servicesNurse midwife servicesCertified pediatric and family nurse practitioner servicesLaboratory and X-ray servicesFreestanding birth center services (when licensed or recognized by the state)Tobacco cessation counseling for pregnant womenTransportation to medical care

Optional benefits

Prescription drugsClinic servicesOccupational therapyRespiratory care servicesSpeech, hearing, and language disorder servicesPhysical therapyOther diagnostic, screening, preventive, and rehabilitative servicesOptometry servicesDental servicesDenturesPodiatry servicesEyeglassesChiropractic servicesProstheticsOther practitioner servicesPrivate duty nursing servicesPersonal careCase managementServices for individuals age 65 or older in an institution for mental disease (IMD)Services in an intermediate care facility for individuals with intellectual disabilityState plan home and community based services: 1915(i)Self-directed personal assistance services: 1915(j)Community First Choice Option: 1915(k)Tuberculosis-related servicesInpatient psychiatric services for individuals under age 21Health homes for enrollees with chronic conditions: Section 1945Hospice careOther services approved by the Secretary, including services furnished in a religious, nonmedical health care institution, emergency hospital services by a non-Medicare certified hospital, and critical access hospital (CAH).

Who’s eligible for Medicaid?

Classified as an “entitlement” program, anyone who meets eligibility criteria can enroll in Medicaid coverage. Here’s who’s eligible:

Children through age 18 in families with an income below 138% of the federal poverty line. In 2023, 138% of the federal poverty line for a family of three is $31,781.People who are pregnant and have an annual income below 138% of the federal poverty line.Certain parents or other caretakers with very low income.Most seniors and people with disabilities who receive cash assistance through the Supplemental Security Income (SSI) program.

States may also receive federal funds to cover these “optional” populations:

People with incomes that exceed the limits for mandatory coverage.Seniors and people with disabilities not receiving SSI, and with an income below the federal poverty line.Medically needy people.Other people with higher incomes who require long-term services and support.Non-disabled adults with an income below 138% of the poverty lines, including those without children.

Here’s where things get tricky.

ACA Medicaid expansion

The Affordable Care Act (ACA) — also known as Obamacare — was signed into law in 2010. While Medicaid had been around since 1965, the ACA sought to boost the number of Americans Medicaid could help. The people Medicaid aims to help are those who are least able to come up with the cash or finance their medical care in some other way.

Currently, 39 states and the District of Columbia have adopted the Medicaid expansion of 2010. But 11 states have not. Whether you qualify for Medicaid may depend on whether you live in a state that has expanded its program.

In all 50 states: Medicaid qualification is based on income, household size, disability, family status, and other factors specific to your state of residence.In 39 states and the District of Columbia: You can qualify for Medicaid based on income alone. If your household income is below 138% of the federal poverty level, you automatically qualify. The only exceptions are the few states who have set a different income limit.

These are the 11 states that have not adopted Medicaid expansion as of this writing:

WyomingWisconsinKansasTexasFloridaMississippiAlabamaTennesseeGeorgiaSouth CarolinaNorth Carolina

While South Dakota has adopted Medicaid expansion, the state has yet to implement the expanded program.

State eligibility

Ultimately, all that matters is whether you’re eligible in your state. Check out this resource from Medicaid.gov. It quickly links you to everything you need to know about Medicaid in your state.

To find your state, scroll down the page to the big blue map. You can either click on the outline or use the pull-down menu to locate your home state. Once your state pops up, you’ll find the name of the department that oversees Medicaid, contact information, eligibility requirements, and enrollment information.

Apply for coverage

Once you know if you’re eligible, apply for Medicaid directly through your state office. Or, if you’d prefer, visit HealthCare.gov to create a Health Insurance Marketplace® account and complete an application. If you decide to apply through the Marketplace, here are a few tips that will make the process easier:

When asked if you’d like to see if you can get help paying for coverage, reply “yes.”If it appears that someone in your household qualifies for Medicaid, the Marketplace will forward your application directly to your home state for the final decision.If you have any questions, contact the Marketplace Call Center at 1-800-318-2596. TTY users should call 1-855-889-4325.

If your state has not expanded Medicaid

If your annual income is below the federal poverty level but your state has not expanded Medicaid, fill out a Marketplace application anyway. Each state offers different options, and could have coverage that might work for you. This is particularly true if you are pregnant, have children, or have a disability. Do not automatically assume that you can’t land coverage.

Medical costs are known to empty bank accounts. If you think you might be eligible for help paying your medical expenses, don’t wait. Take steps to receive the assistance you need.

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This could be an easier option. 

Are you facing down a pile of debt, wondering how best to pay it off? You have a lot of options when it comes to getting rid of debt. You might consider paying off your debts one by one, either by prioritizing the lowest amounts first (the debt snowball method). Or you could look at targeting your highest-interest debts first — this is the debt avalanche method, and you’ll save more on interest with this approach than you will with the debt snowball.

But if you’re having trouble managing multiple debts (multiple due dates, multiple payment amounts), you might look at consolidating your debt instead. This is when you borrow a sum of money to pay off all your debts at once, then you pay off the amount borrowed on a set timeline. There are multiple ways to approach this, too.

A personal loan is a common way to consolidate debt, and if you go this route, you could end up with a much lower interest rate on that loan if you have good credit. But there’s a way to consolidate your debt that comes with no interest at all — if you can finish paying it off before interest is assessed. If this sounds appealing to you, consider consolidating your debt with a 0% APR credit card.

How do 0% APR credit cards work?

Some credit cards come with an introductory period of 0% interest. Sometimes these are designated specifically as balance transfer cards, to reflect their use in debt consolidation. These can help you save money in the course of paying off your debt, because once you move all your existing balances to the card, you won’t be charged more interest on them for a designated period of time. This could be as long as 21 months for some cards.

You may have to pay a balance transfer fee, however, and this is usually a percentage of the balances you’re moving to the card. You can use a balance transfer calculator to see if the card you’re considering will help you save money on your debt payoff.

How do you know if this method will work for you?

Not every debt payoff method will work for every person, so it’s a good idea to consider whether a 0% APR credit card is a good way to consolidate your debts. Consider the following questions:

Do you have a good or excellent credit score? You will need it to qualify for the best 0% APR credit cards.Are you having trouble managing multiple debt payments? If you have, say, five credit card balances to pay off, but can handle keeping track of the payments, the debt avalanche or debt snowball method might be a better fit for you (and will save you the trouble of applying for a new credit card, transferring your balances, and potentially paying balance transfer fees that may not save you money).Do you want to avoid accruing any more interest? If you can manage to pay off the new credit card in the time allotted for the 0% APR, you won’t have to pay any additional interest. If you can’t, however, you may be charged interest on the original balance once the interest-free period is over. So plan carefully, and work out your own payment schedule. For example, if you have 15 months of 0% APR, divide the card’s balance by 15 to get your minimum monthly payment to avoid interest.

If you’re ready to consolidate your debts to make paying them off easier, don’t assume that a personal loan is your only option. Consider 0% APR credit cards too, and make paying off debt easier while getting a break from earning interest on your balances.

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It’s not a small number by any means. 

When it comes to borrowing money, you have options. You could borrow against the equity you have in your home, or you could take out a personal loan, which lets you borrow for any purpose.

But rather than go through the process of applying for a loan, you may be inclined to just rack up a balance on one of your credit cards instead. If you have room to go before reaching your spending limit, this might seem like the easiest option available to you.

But as convenient as it may be to simply charge expenses on a credit card and pay them off when you can, doing so could trap you in a dangerous cycle of debt. That’s because credit cards are notorious for charging large amounts of interest. And if you’re not careful, a lingering balance of yours could end up being more expensive than you’ve bargained for.

Credit card interest can be exorbitant

As of the last quarter of 2022, the average credit card interest rate was 19.07%, as per the Federal Reserve. But your credit card might charge even more — it depends on the terms of your agreement.

Not only do credit cards tend to charge higher interest rates, but they commonly compound interest on a daily basis. And that’s where a lot of consumers get tripped up.

Let’s say you start out with a $500 credit card balance. Once you fail to pay it off in full, you might accrue $0.50 of interest on that $500. The day after that, you risk being charged interest not just on your $500 balance, but rather, your $500 balance plus your $0.50 of interest. And so all told, you might easily end up with a lot of interest charges — even if your balance is relatively small.

You might also assume that carrying a credit card balance for a short period of time is no big deal. But remember, because you’re accumulating interest on interest as well as principal, that two- or three-month payoff period might easily evolve into six months or longer after all is said and done.

Avoid credit card interest when possible

If you don’t like the idea of losing lots of money to credit card interest, the solution is pretty simple — don’t ever carry a balance. But let’s face it — sometimes, emergencies happen, so you may have no choice but to carry a balance at one point or another.

If that happens, do your very best to pay it off quickly, even if you have to slash expenses significantly to free up the cash. At the same time, pay attention to interest rates before using a credit card to cover an unplanned bill. If you have three credit cards, but one charges 16% interest while the others charge 19% and 20%, respectively, then it makes sense to use that first card, since your balance will cost you less.

Some consumers get into financial trouble because they don’t pay attention to credit card interest rates or assume they’re all the same. Paying attention to the terms of your credit card agreements could stop you from making a costly mistake.

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Delayed flights are sometimes unavoidable. But do these things to lower your chances of having your next trip ruined. 

A lot of people were eager to get out and travel a lot in 2022 after staying close to home in 2020 and even 2021. But with that surge of travel demand came a host of flight delays.

During the first seven months of 2022, almost 1 million flights were subject to delays, according to Travel + Leisure. And unfortunately, the problem of delayed flights is not about to go away any time soon.

That might make you nervous about the idea of booking your next vacation. But if you follow these tips, you can put yourself in a better position to avoid or cope with a delayed flight.

1. Do some research to see which airlines are most prone to delays

Some airlines are more likely to experience delays than others. The Bureau of Transportation Statistics maintains data on airlines and their ability to take off on time or not. Do your research and choose your airline accordingly. Granted, picking an airline with a smaller percentage of delayed flights won’t guarantee that yours will depart on time — but it might give you some peace of mind.

2. Book direct flights when possible

The fewer planes you have to board, the less likely you are to experience a delay. Aim to fly nonstop when possible, even if it means shelling out a little more money along the way. The time savings alone may be worth it.

3. Book flights earlier in the day

If you schedule a departure early in the day, you may be less likely to fall victim to airport backlogs than with an afternoon or evening flight. Leaving early might also give you more time to explore your destination. If you’re looking at a four-hour flight and you depart at 7 a.m., you’ll still have most of the day ahead of you to enjoy, whereas a 1 p.m. flight might effectively eat up your entire day.

4. Always purchase travel insurance

Your credit card might offer some protection if your flight is subject to a delay and that costs you in other ways. But for added protection, buy travel insurance. This is a smart thing to do even if you have a travel rewards credit card. With travel insurance, you may be entitled to extra compensation for a delayed flight, whereas without it, you might have to bear the cost of lodging if you can’t get back home and are stuck at your destination for an extra night.

Now, there are different levels of travel insurance you can consider. The most expensive option is apt to be a policy that allows you to cancel your itinerary for any reason. But you don’t necessarily need that level of coverage. And you may find that a policy that reimburses you for things like trip interruption doesn’t break the bank at all.

Flight delays are par for the course when traveling these days. But you can take these steps to reduce the likelihood of having to deal with a delay — or incur too many additional costs because of one.

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What’s the price of safety? 

Raising kids can put a serious crimp on any budget. (Some estimates put the cost of raising a kid upwards of $300,000!) Buying used or sharing items within parenting groups can be smart ways to keep your finances from feeling the sting.

At least, it can be for certain items. For others, you may be putting your young ones at risk by buying used instead of new.

The biggest problem with used kids’ items tends to be safety. Regulations are constantly changing — often in response to tragedy — and older items simply won’t hold up to modern scrutiny. Here are 10 items to think twice about before buying used.

1. Mattresses

Babies are messy. Diapers can fail and little ones can get sick. Parents can only do so much to keep their baby’s mattress clean. Buying new helps ensure that your baby has a clean place to rest. Additionally, the American Academy of Pediatrics (AAP) recommends a firm, flat sleep surface for babies. This means saying no to a used mattress. They can have wear that makes the bed too soft, or leaves an indent, giving your baby less than adequate support.

2. Baby swings

The last decade has seen extensive changes in safety standards for baby swings. Everything changed: seating positions, stability tests, restraint systems — even the language of the warning labels got revised to be stronger. Unless you know for sure the swing was made after the new regulations were put into place, you’re better off buying these new from a trusted retailer.

3. Car seats

A car seat is a necessity. But many people don’t realize that they can actually expire. In fact, most experts suggest ditching a car seat after about seven to 10 years.

That being said, it’s important to realize that car seats can wear out well before that deadline. The rigors of being in a car can take its toll on car seats, especially in climates with lots of sun and/or extreme temperatures.

Additionally, you should never use a car seat that has been in an accident. This can put added stressors on the car seat that reduce its safety. If you don’t know exactly what that car seat has been through, it’s best to avoid it.

4. Strollers

In 2015, the CPSC implemented new rules for the safety of carriages and strollers. Pinch points were removed, locks were improved, harnesses redesigned, wheels were made more secure, and more. The second-hand market could still harbor some pre-2015 units that aren’t up to the current standards. Only accept used strollers from people who can tell you when and where they were purchased.

5. Formula

There is a surprisingly robust secondhand market for infant formula. But no matter how good the prices seem, it’s probably best to avoid buying formula from anywhere other than a trusted retailer.

Besides potential issues with contamination — which are scary enough on their own — even sellers with the best of intentions may not be storing the formula properly.

The Centers for Disease Control and Prevention (CDC) recommends, “Store unopened infant formula containers in a cool, dry, indoor place — not in vehicles, garages, or outdoors.” Disregarding this advice can lead to the nutrients in the formula breaking down, rendering your formula insufficient for a healthy baby.

6. Certain toys

While some toys are good to share, others can be downright hazardous. For one thing, you’ll want to avoid used baby toys that you can’t properly sterilize — especially if you don’t know their origins. (If you give it to a baby, it absolutely will end up in that child’s mouth.)

You should also be extra cautious around older toys from your (or your parents’) childhood. While there’s a certain sentimentality to passing on treasured toys, safety standards have changed significantly over the decades.

For instance, many vintage toys came from an era when lead paint was common. Now, we know better. High lead content in paint still sneaks into our toys today, but it gets caught in recalls. Those family heirlooms don’t have the same oversight. While they can make great keepsakes, they shouldn’t be given to young children.

7. Helmets

Whether for bike riding or kids’ sports, helmets should only be bought new. When you buy a used helmet, you don’t know if it’s already been crashed. Not all crashes leave visible damage. Just dropping a helmet on the ground can diminish its ability to protect you when you need it most.

Oh, and here’s another good reason to avoid used helmets: What if you buy a helmet that is infected with lice? You won’t know until it’s too late. (This is also a good reason to be extra sure you clean any old wigs or hats your child may use for dress-up.)

A little research can make the difference

There are plenty of kids’ items that are perfectly fine to buy used. Clothing and most soft toys, for instance, can be laundered and sterilized. But for other things, buying used may not be worth the money you save.

If you’re tempted by the second-hand market, your best bet may be to do a little research before you buy. Check SafeKids.org for more information. The CPSC Recalls tool can also be a great resource for finding the latest news. You can look up specific items or just run a general search.

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