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In their new book, “Money Together,” Heather and Douglas Boneparth share advice with couples on how to talk about and manage the fraught topic of finances.
“At some point, your loose conversations have to turn concrete,” they write in their book, published in October. “Your dreams need real roadmaps.”

Douglas and Heather Boneparth
Photo: Sylvie Rosokoff

Love is complicated. Add in money and it gets even more so.
But in their new book “Money Together,” Heather and Douglas Boneparth argue that having honest and proactive discussions about finances can make partners closer — and eventually, wealthier.

They begin their book, published last month, with an anecdote of a couple who had the difficult money talk a little late — on their honeymoon, over a cold seafood salad in Positano, Italy. (The Boneparths were also on vacation, and eavesdropping.) It became clear that the arguing pair had just discovered the husband had credit card debt, and that the wife’s parents weren’t paying off her student loans.
Of course, it would have been better if this couple had sorted these things out before they walked down the aisle. Yet couples fight so often about finances, at all stages, because “money is more than money,” Heather tells CNBC. Beneath these arguments is each partner’s unique history, disappointments, fears, desires and expectations.

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Heather and Douglas, who met during their freshman year of college and married in 2013, provide readers with advice on how to talk about money with your partner, and how to manage your finances in a long-term relationship to make it easier to get out of debt, buy a house and accomplish other shared and separate goals. In their telling, that’ll first involve understanding what money means to your partner and why — and moving beyond fantasies about the future and each other.
“At some point, your loose conversations have to turn concrete,” they write in their book. “Your dreams need real roadmaps.”
Douglas is a certified financial planner, the president of Bone Fide Wealth in New York and a member of CNBC’s Financial Advisor Council. Heather, Bone Fide Wealth’s director of business and legal affairs, is a writer and former corporate attorney.

The interview below has been edited and condensed for clarity.

‘When there is scarcity, you see shame rear its head’

Annie Nova: You guys write that couples fight about money, no matter how much or little they have of it. Why do you think that is?
Heather Boneparth: Because money is more than money. Some of the emotions we tie to money include love, safety, independence, trust, control — and that’s true for people from any socioeconomic background. But when there is scarcity, you see shame rear its head in different ways. You also see partners in conflict over what constitutes acceptable ways to earn or borrow money, which might relate back to your culture or how you were raised.
AN: Heather, you describe realizing that your decision to borrow $200,000 in student debt was a huge mistake. But having Doug as a partner helped you find a way out. How so?
HB: Debt can feel like a perpetual reminder that you are lacking; not just in money, but in other ways, too. But Doug co-signed the loan to refinance my student loan debt. Knowing what an emotional impact the debt had on me, this was a more sweeping gesture than almost anything a partner could have done. He was saying, “Your burdens are my burdens.”

“Money Together” by Heather and Douglas Boneparth
Courtesy: Heather and Douglas Boneparth

AN: You also write that you “cringe” at the idea of being saved. Why is that, and what does it have to do with entering your 40s?
HB: I don’t like the idea of having saviors and those who need saving in relationships. It lays the foundation for a disparate power dynamic. Often, it implies that the partner who needed saving could not save themselves, and that partner begins to believe it. They believe that they don’t have the skills or knowledge to participate in the household finances, when that’s simply not true.
When I mention my age here, it’s more to demonstrate that a lot can change in a decade. I’ve built my confidence back, brick by brick. 

‘Making room’ for your partner’s money perspectives

AN: You write about how important it is “to make room” for your partner. What does this mean from a financial perspective?
HB: Some of our deepest feelings around money stem from our individual backgrounds. Now, try marrying those beliefs and behaviors with someone else’s. It’s not easy, and we don’t always take the time to understand enough about our partner’s underlying feelings around money and why they do what they do. That’s how you end up in recurring arguments about surface-level issues like a credit card bill rather than getting to the root cause of why you and your partner have differing views around lifestyle and spending. 
I think “making room” from a financial perspective means making room at the table for your partner’s financial beliefs, goals, appetite for risk and opinions about how you save, spend and invest.
AN: What are the risks of failing to talk about money together, and even hiding things from your partner?
Doug Boneparth: Resentment and a breakdown of trust. When you hide financial details from your partner, whether it’s debt, spending habits, or something you’re just embarrassed about, it never stays hidden forever. Having to explain something uncomfortable later only makes it harder to deal with.

‘Talk about money without talking about money’

AN: How early on should a couple start to talk about money?
DB: The earlier, the better. But that doesn’t mean you have to dive right into the numbers. Imagine talking about that on a third date? Not cool. But there are so many ways to talk about money without talking about money. You can learn a lot by asking questions about someone’s past, like what their childhood was like, where they are from and what they value.
AN: What do you think is the ideal arrangement for a married couple to share their money? Joint or separate accounts? And why?
DB: I’ve found that joint accounts for managing household expenses work best. It promotes transparency and teamwork. When both partners can see what’s coming in and going out, it reinforces that you’re in this together. That said, there’s nothing wrong with keeping your own individual checking accounts, too. Maintaining your sense of financial autonomy can be really healthy.

Using ‘financial fairness’ to navigate imbalances

AN: How can couples navigate a big difference in wealth or income between them? 
DB: You can’t bridge that gap if you don’t first acknowledge it. But when one partner earns or has more, unspoken assumptions can creep in. That’s where disparate power dynamics can calcify. Instead, Heather and I write about “financial fairness.” Fairness means you both feel respected and seen for what you value individually and as a couple. One person might earn more while the other contributes in different but equally meaningful ways, like managing the home, raising kids and planning for the future.

AN: What are some of the couple discussions that need to happen around family wealth and inheritances? What about when there is also an imbalance here, with, say, one person standing to inherit a large amount and another partner nothing? 
DB: Conversations around family wealth and inheritance can be tricky because they’re rarely just about money. They can carry a lot of grief and expectations. The best thing couples can do is treat inherited wealth as part of a shared conversation. Talk about what that money represents, what boundaries you want around it and how it fits into your long-term goals together.
AN: There’s a lot of headlines in the news lately about layoffs. How can couples best respond when one person loses their job?
HB: You don’t want to offer solutions too fast to your partner when they might still be reeling from their job loss. For some, losing your job can feel like losing your identity or your power. Those are heavy feelings that need some space to breathe. But of course, you do need to eventually address what transitions or accommodations might need to take place in your lives due to a loss of income. More

About 748 U.S. flights scheduled to depart on Friday have been canceled, according to Cirium
Only 29% of consumer credit cards offer trip cancellation insurance, on average providing $6,361 worth of coverage, according to WalletHub.
“Credit card travel insurance may help in some cases, but it’s not a guaranteed safety net for delays and cancellations tied to the FAA’s flight reductions,” said WalletHub analyst Chip Lupo in an email.

As air travel cancellations and delays mount during the government shutdown, affected travelers will want to consider all their avenues for recourse — including the credit card they used to book their flight.
U.S. airlines began canceling flights on Friday, in response to an Federal Aviation Administration order reducing flight capacity at 40 airports. The disruption could potentially impact hundreds of thousands of fliers. 

“If you are traveling the next couple of weeks, you should expect that there is going to be some chaos and there are likely to be disruptions,” said Hayley Berg, the lead economist at travel site Hopper.
The FAA estimates it handles more than 44,000 domestic flights every day. Reducing these flights in 40 airports will impact over 268,000 airline seats and up to 1,800 flights a day, according to Cirium, an aviation analytics firm.
About 748 U.S. flights scheduled to depart on Friday, or 3%, have been canceled as of mid-morning, according to Cirium. Saturday cancellations are already at 1.7%.

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Traditional travel insurance may not necessarily cover costs you incur related to this disruption, unless you have “cancel for any reason” or “interruption for any reason” benefits, experts say. 
If you purchased your ticket with a credit card that offers travel insurance, you may not be covered for costs related to any disruptions, either. 

Credit card coverage ‘not a guaranteed safety net’

Travelers arrive at Los Angeles International Airport on Monday, Nov. 3, 2025 in Los Angeles, CA.
Juliana Yamada | Los Angeles Times | Getty Images

“Credit card travel insurance may help in some cases, but it’s not a guaranteed safety net for delays and cancellations tied to the FAA’s flight reductions,” said WalletHub analyst Chip Lupo in an email.
It isn’t a common perk: Only 29% of consumer credit cards provide trip cancellation insurance, providing an average coverage of $6,361, according to WalletHub. Just 18% come with travel delay insurance, providing an average coverage of $445. 
The level of coverage can also vary significantly, depending on the type of credit card you have. 
If you used your travel credit card to book your upcoming trip, “the best cards will typically address the most common travel disruptions, such as lengthy delays or a last-minute cancellation,” Lauren McCormick, a spokesperson at the travel insurance website Squaremouth, said in an email. “However, each issuer has its own list of covered reasons and exclusions.”
Review your card’s benefits guide to understand exactly what’s included.

Often, credit card travel insurance can help fill in gaps, including reimbursement for reasonable expenses if you’re delayed for an extended period or if there are non-refundable charges, like a hotel stay, meals or missed prepaid events tied to your flight, experts say.
“Credit card travel insurance can help if you’re stranded,” said Bankrate senior industry analyst Ted Rossman. “That coverage may pay for a new flight on a different carrier or reimburse you for hotels or meals if you’re stuck somewhere.”
Even so, Rossman said, “A lot of times, your best bet is to get relief from the airline if the flight is cancelled, or a travel credit if you’re the one to initiate the change.” If you submit a claim to a travel insurance company, insurers generally want to know that you’ve first checked with the airline for relief. 
“Check your card’s benefits guide before traveling and monitor airline waivers closely, since many carriers are temporarily allowing changes and cancellations for no fee during this period,” Lupo said.
Other credit card benefits may help travelers facing shutdown disruptions. If you’re stuck at the airport with a delayed flight, see if you have a credit card that offers free or discounted lounge access. To mitigate airport security wait times, some cards will offset the cost of expedited screening memberships like TSA PreCheck or Clear.
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Even during the government shutdown, borrowers are getting notices of student loan forgiveness.
The Trump administration agreed last month to resume forgiving people’s education debts under programs that it had partially paused, including the Income Contingent Repayment plan, or ICR, and the Pay as You Earn plan, or PAYE.
Financial experts recommend taking a number of steps, including assessing potential tax liabilities, monitoring your credit and revisiting your major goals.

Tim Robberts | Digitalvision | Getty Images

Student loan forgiveness is a major relief for borrowers — many of whom have been in repayment for decades. But after receiving debt cancellation, there are key steps you should take, experts say.
The Trump administration agreed last month to resume forgiving people’s education debts under programs that it had partially paused, including the Income Contingent Repayment plan, or ICR, and the Pay as You Earn plan, or PAYE. The concessions resulted from a lawsuit by the American Federation of Teachers against the U.S. Department of Education, which accused the government of blocking borrowers from opportunities mandated in their loan terms.

Even during the government shutdown, some student loan borrowers have started receiving messages that the Education Department has forgiven their debt.
More than 40 million Americans hold student loans, and the outstanding debt exceeds $1.6 trillion. 
“A financial windfall is a great time to evaluate progress towards life goals,” said Dana Levit, a certified financial planner and the owner of Paragon Financial Advisors in the Boston area. “In this case, there is now additional discretionary income that had previously been used for making payments on the student loan debt.”
Here’s what to do after student loan forgiveness, according to experts.

Assess any taxes that may be due

In some cases, getting your student debt erased can trigger tax liabilities. However, the American Rescue Plan Act of 2021 made student loan forgiveness tax-free at the federal level through the end of 2025.

Recently, Trump officials made clear that borrowers who become eligible for debt erasure in 2025 won’t get a tax bill from the IRS, even if their debt is formally cancelled in the first few weeks or months of next year. Sometimes there can be a lag time between when someone becomes eligible for the relief and when their debt is actually wiped away.
It’s a good idea to save any dated notification you get about your eligibility for loan cancellation, in case you wrongly receive a tax bill down the line, experts say.

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If you become eligible for student loan forgiveness in 2026, you’ll get a copy of IRS Form 1099-C showing the amount cleared as income, said higher education expert Mark Kantrowitz.
Those who anticipate the debt erasure next year can start to salt away money now for the federal tax bill. Borrowers often don’t have to pay the entire tax liability in one sum, said Nancy Nierman, assistant director of the Education Debt Consumer Assistance Program in New York.
“They can request a plan through the IRS to spread the payments over a longer period of time,” Nierman said.
Meanwhile, if your liabilities exceed your assets or you’re dealing with a serious financial hardship, you may be able to reduce or eliminate the federal tax bill altogether, she said.
Borrowers who receive student loan forgiveness this year or in the future may also owe taxes to their state, Kantrowitz said. Currently, five states tax the relief in certain cases, he said: Arkansas, Indiana, Mississippi, North Carolina and Wisconsin.

Keep records, monitor your credit

Any student loan borrower who gets their debt forgiven should keep records confirming their eligibility for the relief and that their debt balance was reset to zero, Kantrowitz said. You can find information on your account status at Studentaid.gov and with your loan servicer.
If you don’t know which company is managing your student loans on behalf of the Education Department, or need the company’s contact information, you can also get that information from the government.
“Keep this proof of forgiveness indefinitely,” Kantrowitz said, in case your loan servicer makes a mistake and restores the debt to your name or it remains on your credit report.

Your credit history should reflect the student loan forgiveness within a few months, Kantrowitz said.
“If it doesn’t, they should contact their loan servicer,” he said.

Check if you’re entitled to a refund

If you continued to make payments on your student debt after you became eligible for forgiveness, the Education Department may owe you a refund.
To see if you qualify for one, count the number of qualifying payments you’ve made and compare it to the required number. For example, those pursuing Public Service Loan Forgiveness must make 120 payments before loan cancellation; the number of payments required under income-driven repayment plans can be 240 or 300.
You should be able to get a list of your qualifying payments at StudentAid.gov, and you can request the refund through the Education Department or your loan servicer. Keep a record of your attempts to get back your overpayments, experts say.
“The refund will be made by ACH or by check from the U.S. Treasury,” Kantrowitz said.
Student loan borrowers who get notified that they’re eligible for debt cancellation can also ask to be placed in a forbearance while their relief is processed.

Revisit financial goals

With your student debt finally gone, you’ll likely find yourself with a few hundred extra dollars a month, said Levit.
“Start with using this surplus cash to build an emergency fund if it doesn’t exist yet,” Levit said.
While financial advisors typically recommend a goal of three to six months’ worth of expenses as an emergency fund, having even $2,000 set aside can make a major difference for many people.
As you get used to life with less debt, you may also want to review your other financial goals, Levit said.
“These could include buying a house, saving for college and saving for retirement,” she said. “This is the time to see if any of these goals are underfunded, and if they are, to use this money to catch up on these targets.” More

The current federal shutdown is now the longest in U.S. history.
For hundreds of thousands of government employees, the pause has put their paychecks at risk.
If the shutdown lasts through Dec. 1, about $21 billion in federal wages may be withheld, estimates the Bipartisan Policy Center.

A visitor jogs past the Washington Monument during sunrise on November 5, 2025 in Washington, D.C. The record for longest shutdown in the U.S. Government was broken Wednesday as it entered its 36th day.
Tom Brenner | Getty Images News | Getty Images

The ongoing federal government shutdown is now the longest in U.S. history.
As the standoff goes on, hundreds of thousands of federal employees who rely on the government for paychecks continue to see their incomes dry up.

At least 670,000 federal employees have been furloughed and approximately 730,000 individuals are still working without pay, according to the Bipartisan Policy Center.
If the shutdown lasts through Dec. 1, federal agency workers will collectively miss about 4.5 million paychecks, or $21 billion in total federal wages, BPC estimates. The average federal paycheck is approximately $4,700 in fiscal year 2025, according to the Washington, D.C.-based think tank.
Military workers’ pay may also be affected by the shutdown, with almost 4.2 million paychecks at stake if the shutdown continues to Dec. 1, according to BPC, assuming money is not reallocated. The Trump administration has said it plans to use legislative and Defense Department funds to pay military members.

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As the government shutdown continues, the financial burden for federal workers and their families becomes more pronounced.
“Maybe a family can weather one missed paycheck, but then two missed paychecks and beyond, it certainly gets much harder,” said Caleb Quakenbush, associate director at the Bipartisan Policy Center’s economic policy program.

Families may face additional challenges with some safety-net programs, , curtailed as a result of the shutdown. Local food banks and other nonprofits, which are the next line of defense, may experience funding gaps with federal grant money on hold, too.
The federal government shutdown began on Oct. 1 and has dragged on, with Washington lawmakers at an impasse over soon-to-expire enhanced tax credits for Affordable Care Act marketplace insurance premiums. Democrats want to extend the subsidies as part of a deal to end the shutdown, while Republicans have said they want to negotiate the subsidies separately.
Without a continuing resolution or a full-year appropriations bill, non-essential government services and operations have halted.

More pay at risk as federal shutdown continues

Closed signage is seen around the National Gallery of Art Sculpture Garden on the National Mall on October 12, 2025 in Washington, D.C.
Anna Moneymaker | Getty Images News | Getty Images

On Wednesday, the shutdown crossed the 36-day mark, making it the longest federal funding lapse in the country’s history.
The previous 35-day record was set in late 2018 to early 2019 during President Donald Trump’s first term. In January 2019, Trump signed into law the Government Employee Fair Treatment Act to guarantee retroactive pay for both furloughed workers and excepted employees who continued to work during that shutdown and future lapses.
During a Tuesday press briefing, White House press secretary Karoline Leavitt declined to confirm that furloughed federal employees will receive back pay. “Republicans in the White House are very much open to discussing this with Democrats,” Leavitt said.
Near the start of the shutdown, a draft White House memo suggested not all furloughed federal workers would be eligible for back pay.
The White House did not respond to CNBC’s request for further comment by press time.
Democrats and Republicans have been working on legislation to pay federal employees during the shutdown, though so far, they have not been able to agree on the terms.

The government is incurring an obligation to pay employees who continue to work without compensation, according to Quakenbush. In the past, Congress has also typically appropriated back pay for furloughed workers, he said. However, contractors who are not directly employed by the government may be vulnerable to income losses if the shutdown prevents them from working.
Even once this conflict is resolved, it may have lasting effects on the government’s ability to attract talent, according to Quakenbush.
Many federal workers could be making more in the private sector, but choose to do the work they do because of a sense of mission or purpose, he said.
“But our ability to attract quality federal workers in the long term, it really matters how we how we treat them,” Quakenbush said.

Sidelined federal workers should focus on triage

Affected workers should focus now on “financial triage,” according to Melissa Caro, a certified financial planner and founder of My Retirement Network, a financial education company.
“Assess the situation the way an ER nurse would,” Caro said.
The first steps would be to “stop the bleeding” — secure cash flow, call lenders and delay what can be delayed, she said.
It’s OK to let go of routines like investing in retirement and savings accounts if you’re facing a cash crunch, Caro said. Just be sure to return to those habits when things return to normal, she said.

Next, take steps to protect essentials like health coverage, housing and access to medication and food, she said.
“I think people don’t realize how much flexibility there is if you just pick up the phone and make a call,” Caro said, particularly when it comes to housing or utility bills.
Federal workers facing a pay lapse may also want to consider renegotiating payments on their debts, where possible, said Emmanuel Eliason, a CFP and founder and CEO at Eliason Wealth Management in Centennial, Colorado. But they should be wary of predatory lenders who may seek to take advantage of their need for cash, he said. More

Open enrollment has begun for many employees, as well as consumers using Affordable Care Act and Medicare health insurance plans.
Health care premiums are rising 6.5% on average for employees, according to Mercer, and 26% for those on ACA plans, KFF found.
Health savings accounts, or HSAs, may be an option to help pay for medical, dental and vision expenses.

A poster reads “Affordable Care Act Premiums Will Rise More Than 75%” as Senate Minority Leader Chuck Schumer (D-NY) (2nd-L), accompanied by Sen. Jeanne Shaheen (D-NH) (L), speaks at a news conference to call on Republicans to pass Affordable Care Act tax breaks on Capitol Hill on Sept. 16, 2025 in Washington, DC.
Andrew Harnik | Getty Images

Open enrollment is underway for many employees, Medicare recipients, and those who purchase health insurance on their own through Affordable Care Act plans — and many of those Americans will see significant price hikes. 
Health insurance premiums for plans bought over the ACA marketplace will increase 114% on average if enhanced subsidies expire at the end of 2025, according to KFF, a nonpartisan health policy research group. About 22 million of the 24 million ACA marketplace participants — including many self-employed and small-business workers — receive those premium tax credits, which are a key issue in the ongoing government shutdown.

Contributing to that price increase, ACA insurers are raising premiums for next year by an estimated 26% on average, according to KFF, in part because those companies expect healthier people to drop coverage if the enhanced subsidies expire.
“What’s not certain is whether the price you’re seeing today is what it will actually be,” said Louise Norris, a health policy analyst with healthinsurance.org. “If those subsidy enhancements get extended, or if they get modified and extended, you might end up paying a different premium than what you’re seeing now.”

Employer-sponsored plans are seeing smaller, but still notable, increases. The vast majority of Americans, about 165 million people, including employees and their dependents, obtain health insurance through their employer, according to KFF.
Employees could see their payroll deductions for health care coverage rise by 6.5% on average for 2026 —the steepest increase in 15 years, global consulting firm Mercer found. 
“It’s invisible for a lot of people because it’s paycheck deduction,” said Zach Teutsch, founder of Values Added Financial in Washington, DC. Teutsch is a member of CNBC’s Financial Advisor Council.

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As costs spike, millions of Americans may be facing a tough decision about which health insurance option to choose — and how to afford it. Here are key steps financial advisors and health policy analysts recommend taking before enrolling in health coverage for 2026. 

Review your 2025 health-care expenses

Before you look at 2026 options, tally your out-of-pocket costs for 2025 so far, including co-payments, medical bills, prescriptions and over-the-counter expenses. Tracking what you’ve spent on recent health-care needs will help you calculate potential 2026 expenses and give you a better idea of the type of medical coverage you’ll need. 

Compare all available plans for 2026

Even if your insurer is offering the same health insurance plan options as this year in 2026, premiums and deductibles likely increased. Plus, your health needs may have changed. Check which of your current providers are still “in-network” and determine the coverage for out-of-network providers. 
If you have to undergo surgery or now have a chronic illness, you may opt for a different plan, or you may need to make a plan change to better manage costs. 
Many employers offer two choices, which boil down to: pay now or pay later. You can pay more upfront with higher premiums deducted from each paycheck and a lower deductible, which is the amount you pay before insurance kicks in. Or you can pay later with lower premiums and a higher deductible. 
For ACA plans, you can compare options through the federal marketplace, or a state-specific website for residents in Washington, D.C., and 20 states. 
If you’re enrolled in Medicare, use the Plan Finder Tool on Medicare.gov.

Pause on ACA enrollment

Longhua Liao | Moment | Getty Images

If you are getting coverage through the ACA marketplace, don’t sign up just yet. If the enhanced subsidies are extended or modified, “you might pay less than what it looks like it’s going to be,” said Norris.
Set yourself a reminder to check on the price in late November and make adjustments. Be sure to sign up before the December 15 deadline for a January 1 start date. 

Consider your health needs

You don’t want to be uninsured, experts say: An emergency room visit or intensive care stay can reach six figures.
“The idea of a multi $100,000 hospital bill is not uncommon at all,” said Norris. “It’s one thing to set up a payment plan with the hospital to pay off, say a $7,000 deductible. It’s a totally different thing when you’re looking at trying to set up a payment plan for a $400,000 bill.”
People with no health issues and who rarely visit a doctor may save money with a high deductible plan, which, for ACA plans, is the bronze level. “That way, if you all of a sudden get hit by cancer or something bad, you’ll have health insurance coverage,”  said Carolyn McClanahan, a physician and certified financial planner based in Jacksonville, Florida. Some doctors won’t even see you if you don’t have health insurance coverage, she said.

Another option, if you have chronic care needs or go to the doctor more often than a basic plan covers, is to add a direct primary care physician to a bronze health insurance plan, McClanahan said. A monthly subscription fee, typically $50 to $150, covers basic primary care visits and may include services such as lab work and x-rays. Those payments won’t count toward your deductible.
“It never goes under insurance,” said McClanahan, the founder of Life Planning Partners and a member of CNBC’s Financial Advisor Council. “It’s basically cash pay.”
Ask questions to understand what’s covered and that it’s a good fit, McClanahan said: “Just because they’ve opted to be a direct primary care doctor doesn’t mean that they’re necessarily the best doctor for you. So make sure that your personalities fit.”

Take advantage of FSAs and HSAs

If your employer offers a health flexible spending account, or FSA, you can use the pre-tax dollars you put into that account to pay for eligible out-of-pocket medical expenses, co-payments, deductibles, prescriptions and vision or dental care. Putting money into this account will not only lower your taxable income for next year, but also allow you to pay for health-care expenses with money that otherwise would have been taxed.
Health savings accounts, or HSAs, are another tax-advantaged option to help pay for medical, dental and vision expenses — as long as you are enrolled in a qualifying high-deductible health plan. Unlike FSAs, you can use the money over time and put it in long-term investments. Recent legislation has also expanded access to HSAs through more marketplace health plans.
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Amazon, UPS, General Motors and Paramount are among the companies that have recently announced layoffs.
After a job loss, people need to figure out how to supplement their income, find new health insurance and keep paying their bills.
“Now is a particularly challenging time to be unemployed,” said Michele Evermore, senior fellow at the National Academy of Social Insurance.

A UPS truck at the Palace Imports warehouse in Linden, New Jersey, US, on Wednesday, Aug. 27, 2025.
Michael Nagle | Bloomberg | Getty Images

After a wave of big companies announcing steep job cuts, many laid-off workers may face a financially difficult and uncertain period ahead.
Amazon said on Tuesday that it would eliminate around 14,000 corporate positions, and the United Parcel Service, or UPS, said it had reduced its operational workforce by 34,000 jobs this year. On Wednesday, General Motors laid off roughly 1,700 workers, and Paramount terminated 1,000 people. The Trump administration has also threatened to fire thousands of federal workers during the shutdown, but those efforts have been blocked so far in the courts. 

“Now is a particularly challenging time to be unemployed,” said Michele Evermore, senior fellow at the National Academy of Social Insurance.
The Bureau of Labor Statistics didn’t publish its monthly jobs report in October because of the government shutdown. But analysts have been worried about the state of the employment market for months.

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1. ‘Immediately file’ for unemployment

Despite the government shutdown, which began on Oct.1, states still have access to their state unemployment trust fund to pay out benefits, said Andrew Stettner, the director of economy and jobs at The Century Foundation.

“Eventually they will run out of federal funds to pay the staff that process the benefits, but we’ve not heard of that happening yet,” Stettner said.
As a result, those who’ve lost their job should “immediately file” for unemployment insurance, Evermore said. Before you do so, you’ll want to gather the following information: your pay over the last 18 months, names of previous employers during that period and their addresses, your Social Security number, state-issued identification and any documentation from your last company.
If you live in one state and work in another, you’ll want to apply for the jobless benefits in the state where you worked, experts say. On a DOL-sponsored website, you can find the contact information for state unemployment agencies.

A sign is displayed at the U.S. Department of Labor Frances Perkins Building on June, 2025 in Washington, DC.
Kevin Carter | Getty Images

State agencies should pay benefits within three weeks of your application, but delays have become more common since the pandemic, Evermore said.
“It’s probably going to get worse as layoffs increase,” she added.
Maximum unemployment benefit amounts vary by state. For example, California’s maximum weekly benefit is $450; in Florida, the cap is $275, Evermore said. In most states, claimants can get benefits for 26 weeks, she added — although the benefits last for just 12 weeks in some states, such as Florida.

2. Find new health insurance

For many workers, losing their jobs also means losing their health insurance.
Your first step is to find out when your workplace insurance officially expires, said Christine Eibner, a senior economist at Rand Corporation. Some companies provide additional months of coverage under their plan after a layoff.
Once your coverage lapses, you may be offered the chance to continue it under COBRA, shorthand for the Consolidated Omnibus Budget Reconciliation Act, said Caitlin Donovan, a spokeswoman for the Patient Advocate Foundation.
The option is “cost-prohibitive” for many people, Donovan said, because it requires them to pay the full premium, including the portion their company was previously paying. But if you can afford the price tag, it’ll cause the least disruption to your coverage. COBRA is usually available for between 18 months to 36 months, according to the Department of Labor.

Now is a particularly challenging time to be unemployed.

Michele Evermore
senior fellow at the National Academy of Social Insurance

Other options for getting new health insurance include enrolling in a spouse’s plan or seeking subsidized coverage on the Affordable Care Act Marketplace or through Medicaid, Eibner said. Those who’ve lost their employer health benefits typically have 60 days to sign up for an ACA Marketplace plan, Eibner added. (Open enrollment on the marketplace for 2026 starts on Nov. 1 in most states.)
At the heart of the current stalemate in Washington is whether or not to extend Covid-era enhanced tax credits for ACA marketplace enrollees. Those enhanced subsidies make health insurance premiums cheaper for tens of millions of Americans. Without that aid being extended, many people will see higher prices for marketplace coverage in 2026.
“However, the tax credits aren’t going away completely,” Eibner said. “They are just reverting to the original levels put into place under the Affordable Care Act.”
Medicaid is the cheapest health-care option and may actually cost you close to nothing, experts said. Eligibility is based in part on your current income, which may allow many newly unemployed workers to qualify — although jobless benefits may have an impact.

3. Check on your workplace retirement account

If your company offered a retirement account, you’ll need to decide what to do with that nest egg now.
You may be able to simply leave the money in the account, even though you won’t be able to contribute to it anymore or benefit from any employer match.
“This is a great option, especially if the funds in the account are strong and if the employee needs time to focus on other things,” said Dana Levit, a certified financial planner and the owner of Paragon Financial Advisors in the Boston area.
An exception: If you have less than $5,000 in your workplace retirement account, your employer may require that you move the funds.
You may also be able to transfer your funds without taxation or penalties to another qualified retirement plan, including a 401(k) at your next company if that’s allowed, or to an individual retirement account, Levit said. If your former employer isn’t forcing a transfer, there’s no need to rush into this decision.
While cashing out your 401(k) is another option, it’s not a desirable one, Levit said: “The distribution is taxable as ordinary income,” and “depending on the employee’s age, there could also be penalties for an ‘early withdrawal.'”

Laid-off workers who have an outstanding loan from their 401(k) may face an extra headache, Levit said.
“401(k) loans are typically due in full at termination,” she said. “If they are not repaid, the outstanding loan will be considered a taxable distribution subject to ordinary income taxes and potentially penalties.”
But it’s worth talking to your plan administrator and learning what your options are, Levit added: “Some have flexibility about continuing payments even after termination.”

4. Stay on top of student loans, other debt

People who’ve lost a job and are worried about their student loan bill have options, too. You can enroll in an income-driven repayment plan that sets your monthly payment based on your earnings and submit proof that you’ve lost your job; while unemployment benefits will count as income, you’re likely to get a low payment and some may not owe anything under their plan’s terms.
The U.S. Department of Education also offers an Unemployment Deferment, in which you can possibly pause your payments for up to three years after a job loss. Some student loans will still accrue interest during the payment pause, while others will not.

During a period of joblessness, you should ask other lenders “for a break,” said Ted Rossman, a senior industry analyst at Bankrate.
“Many lenders have hardship programs that allow you to skip a payment or rearrange a due date,” Rossman said. “Lenders are often willing to work with you, especially if it’s something temporary like a government shutdown, job loss or natural disaster.”
If you can manage it, making at least the minimum payments on all of your debts will avoid the start of any collection activity and possible risks to your credit, Rossman added.
On top of taking care of your finances, it’s also important to tend to your mental health after a job loss, Evermore said. That might mean sharing what you’re going through with others, including family, friends and a therapist.
“Unemployment is one of the most stressful things that can happen to a person, so be mindful of the fact that you are not alone,” Evermore said. “There are people who want to help you through this challenging time.” More

Consumers are buying travel insurance at an elevated rate during the government shutdown.
They appear to be hedging against disruptions that could result from shortages of air traffic controllers and TSA agents, for example.
There are situations in which travel insurance likely won’t cover policyholders due to the government shutdown, experts said.

Andrew Bret Wallis | DigitalVision | Getty Images

More consumers are buying travel insurance during the federal government shutdown — but these insurance policies may not offer the catch-all protection that buyers expect.
Much depends on the fine print, experts said.

Squaremouth, an online platform for comparing travel insurance policies, has seen the volume of insurance quotes increase 8.5% year-over-year between Oct. 1 and 27. Sales have risen by 7.9% over the same period.
Buyers seem to be hedging against the financial risk of the government shutdown upending their travel plans, experts said. Air traffic controllers and TSA agents are essential government employees working without pay, and in previous shutdowns, travel has been disrupted.
Hopper, a travel website, has seen purchases of “disruption assistance,” which offers certain protections in the event of flight cancellations or delays, increase 35% between mid-September (before the shutdown) and early October (after it began).
“We see it time and again when flight delays or cancellations are in the news a lot,” Patrick Steadman, Hopper’s head of disruption assistance.

Travel delays are already mounting

Elijah Nouvelage/Bloomberg via Getty Images

“Essential” workers like air traffic controllers and TSA agents work without pay during a shutdown, while others are furloughed. That raises the odds of staff shortages and resulting airport delays.

Flight delays have already increased during the shutdown, and airlines have warned in recent weeks of likely flight delays the longer the political impasse drags on.
The shutdown, which started Oct. 1, is already the second-longest in U.S. history.
Meanwhile, the end-of-year holidays, historically among the busiest seasons for travel, are fast-approaching. For example, more than 3 million people were screened at U.S. airports on the Sunday after Thanksgiving in 2024, breaking a single-day record.

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About 45% of Americans plan to spend money on flights or hotels this holiday season, according to a NerdWallet poll published in October. They expect to spend an average $2,586 for such expenses, and a collective $311 billion, it found.
“Ultimately, [travel] is (in our mind) what probably brings this shutdown to a close,” Chris Krueger, a strategist at Washington Research Group, wrote in a note Oct. 29. “Once TSA begins missing paychecks, airport lines (and coverage) will likely force resolution like in previous shutdowns,” he wrote.
Air traffic controllers, already in short supply, missed their first full paychecks on Tuesday.
The longest U.S. shutdown, during President Donald Trump’s first term in office, lasted 35 days and came to an end after a shortage of air traffic controllers snarled air travel in the New York area. TSA screeners called out sick in elevated numbers as they were asked to work without pay.

What travel insurance does and doesn’t cover

Flight delays or cancellations may, in certain cases, lead consumers to shoulder unforeseen costs for lodging and meals, or miss out on prepaid activities like tours, for example.
But travel insurance won’t always cover consumers for such costs if the shutdown upends their itineraries.
For example, travelers likely wouldn’t be covered if they miss a flight due to being stuck in a long airport security line, said Terra Baykal, senior marketing manager at World Nomads, a travel insurer.
She recommends people arrive at least three hours before departure, even for domestic flights, as the shutdown persists to prevent long lines from derailing a trip.

World Nomads typically sees its insurance sales fall at this time of year, but they have declined less than usual with the shutdown, Baykal said.
In 2024, the company saw a 17% drop in U.S. travel insurance plans sold, from the Sept. 5 to 30 period to Oct. 1 to 26. They dropped by a lesser amount, 10%, this year, suggesting there’s been more demand amid the shutdown, Baykal said.
Travel insurance is largely meant to cover unforeseeable events, said Chrissy Valdez, senior director of operations at Squaremouth.
However, the shutdown is now a foreseeable event, Valdez said. That means policies purchased on or after Oct. 1 likely wouldn’t cover certain claims.
For example, a federal worker who bought travel insurance after Oct. 1 and then subsequently was laid off or furloughed due to the shutdown may not be able to cancel their trip and claim insurance benefits under a “cancel for work reasons” clause, Valdez said.

Travelers can get indirect coverage during the shutdown in some cases, depending on their insurance policy and airlines’ stated rationale for a flight disruption, experts said.
Most insurers require there be a “common carrier” disruption, like a mechanical failure, in order to pay benefits, Valdez said.
As long as an airline categorizes any sort of disruption — such as a lack of air traffic controllers — as a “common carrier” delay or interruption, travelers may qualify for insurance reimbursement, wrote Squaremouth spokesperson Lauren McCormick in a recent blog post.
“Even during a government shutdown, many disruptions to travel are covered under the ‘common carrier’ category,” she wrote. “Essentially, this is a loophole that may allow you to claim reimbursement as an indirect result of the shutdown,” she added.

There are generally caveats and limits to travel insurance policies, too, such as dollar limits on certain benefits and the requirement that a delay last for a minimum amount of time.
Certain optional policy benefits, like “cancel for any reason” provisions, may grant travelers additional flexibility if they want to cancel an upcoming trip rather than risk the headache of a delay or cancellation, said Baykal, of World Nomads.
However, these benefits also come with caveats: For example, many insurers require policyholders to cancel at least two days before their trip starts. Insurers also generally don’t reimburse policyholders for the full cost of the trip; they may reimburse 75% of nonrefundable trip costs, for example, Baykal said.
“We always recommend a customer reads through policy details if it comes to the point of making a claim,” she said.
Separately, airlines have made varying financial commitments to travelers who experience flight disruptions, which are detailed on a dashboard maintained by the U.S. Department of Transportation. More

The Social Security payroll tax includes a 6.2% tax paid by both employees and employers.
Workers will pay Social Security payroll taxes on up to $184,500 in earnings in 2026.
Individuals who have wages equal to or greater than the cap will pay $11,349 toward the program.

Vm | E+ | Getty Images

Next year, millions of workers will be subject to a new maximum earnings threshold for Social Security payroll taxes.
The Social Security maximum taxable earnings will be $184,500 in 2026, up from $176,100 in 2025. That number, also called the wage base, represents the limit on earnings subject to the Social Security payroll tax and is adjusted each year.

The Social Security Administration detailed the change on Friday as part of its announcement about the 2.8% cost-of-living adjustment in 2026 for Social Security and Supplemental Security Income benefit payments. The news, originally slated for Oct. 15, was delayed due to the federal government shutdown.

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The annual increase to the cap is based on the national average wage index.
Some high earners may see more payroll taxes withheld in 2026 as a result of the higher wage base. Only 6% of workers earn more than the taxable maximum, according to 2024 data from SSA.
The adjustments come amid continued worries about Social Security’s trust fund shortfall, and raising the taxable maximum is one of many options that have been floated to close the funding gap.

Hitting the cap can maximize retirement benefits

Once a worker hits the cap, they are done paying into Social Security for the year. In 2025, workers who earn $1 million or more maxed out as of March 6, according to the Center for Economic and Policy Research.

While high earners and entrepreneurs have some opportunities to defer income, Catherine Valega, a certified financial planner and enrolled agent at Green Bee Advisory in Burlington, Mass., said she likes for her clients to try to hit the Social Security wage base every year, if possible.
Those annual wages may be used as part of the 35 highest-earning years the Social Security Administration uses to calculate your retirement benefits, Valega said.

Business owners, who may be tempted to file taxes as an S-corp to avoid paying self-employment taxes, will sacrifice earnings that count toward their retirement benefits, Valega said. Likewise, women who step out of the workforce for caretaking duties may see reduced retirement benefits later on, she said.
“Everyone should be thinking about Social Security, not just those approaching claiming age, because by that time, it is too late to make any impact on your income,” Valega said.

How Social Security payroll taxes work

The Social Security payroll tax includes a 6.2% tax paid by both employees and employers. In 2026, individuals who have wages equal to or greater than $184,500 would pay $11,439 to Social Security’s Old-Age, Survivors and Disability Insurance program, while their employers would pay the same amount. That’s more than the roughly $10,918 those workers and their employers contribute under the $176,100 taxable maximum in 2025.
Individuals who are self-employed pay a 12.4% rate.

Workers also pay additional payroll taxes towards Medicare — 1.45% each for workers and their employers, or 2.9% for those who are self-employed. However, there is no limit to the earnings that can be subject to those levies.
Higher earners — individuals earning more than $200,000 and married couples with more than $250,0000 — may separately pay an additional 0.9% Medicare tax. More