Bridging the Gap Between Mental Health & Financial Wellness

Note: The Coordinated Assistance Network (CAN) delivers financial education and literacy through its DBA a.k.a., VeteransPlus. The organization has expertise 15 years + in providing personal financial planning & counseling programs, case management services and referrals for emergent needs, and mental health peer support services when suicidal ideations are present.

Health.com April 2023 article states. "The study found that both financial debt and low income were associated with suicidal ideations and attempts. Research shows that a person's overall health and well-being can improve if their debt is canceled or reduced. There is also evidence that a higher income is associated with an improvement in health for people of low and moderate income. Unfortunately, canceling debt and obtaining a higher income isn't an easy thing to do, but financial education and counseling may help reduce the burden of debt and low income."

https://www.health.com/money/financial-stress-suicide-risk

Just shy of an estimated 216,000 Veterans reside in the west coast Florida counties of Pinellas, Pasco, and Hillsborough where approximately 143,000 or just under half of the total Veteran population of the same area are enrolled in VA. As such, nearly 73,000 Veterans who are not enrolled in VA healthcare face financial barriers to seeking mental and physical health treatment, particularly when tough financial decisions need to be made to protect and feed their families. A vast majority of the proposed service area is considered rural and lacking proper resources to any healthcare. Mental health services can be costly, and without the coverage and benefits provided by the VA, Veterans struggle to afford the necessary care, financial stressors can exacerbate mental health issues and make it more difficult to access appropriate treatment options. Mental health issues can worsen if left untreated or if treatment is delayed. Veterans who are not enrolled in VA healthcare face greater challenges in accessing timely and comprehensive mental health treatment, leading to worsening of mental health symptoms and an increased risk of developing more severe conditions.

The organization realizes how vital a role financial planning and counseling plays in identifying Veterans at risk of suicide by addressing the financial stressors and related factors that contribute to mental health challenges. VeteransPlus sees engagement is where education is based on an area of importance, resulting in a higher level of interest, psychological investment, and active effort toward learning, including three components: behavioral engagement, emotional engagement, and cognitive engagement. VeteransPlus has used this approach to educate servicemembers and Veterans on various topics and as a result, received high praise from DoD, VA and state leaders and stakeholders. Once outreach participants are engaged on the desired level, VeteransPlus increases their interest by offering additional solutions and further engagement through technology to document progress. Understanding that today’s servicemembers and Veterans are tech savvy, this approach affords a deeper connectivity. Hundreds of thousands of servicemembers and Veterans who have attended base or VA outreach events continue to contact VeteransPlus for a myriad of services. When a need arises, they connect to the VeteransPlus proprietary FIN-Tech technology platform (CANportal.org) to work with providers to coordinate confidential assistance and referrals to further care, treatment or advance Veteran access to healthcare. With employees located across 50 states and Puerto Rico, part time employees for the organization are activated based on the needs to execute a managed grant or contract. This includes financial counselors, mental health therapists, intake specialists, data managers, peer support specialists, and a host of other types professionals that will aid the delivery of this program.

For over 15 years, the Coordinated Assistance Network, (a.k.a. VeteransPlus) programs have been delivered by Accredited Financial Coaches (AFC's) and counselors, including Certified Financial Planners (CFP's) to provide practical financial solutions geared to real life circumstances of current and former military personnel. VeteransPlus has provided no-cost personal financial planning and counseling to 1.5 million servicemembers, Veterans, caregivers, survivors, and their families. As evidence of expertise in this area, the organization was recognized through national partnerships with the American Legion, Florida, California, Nevada and Texas Departments of Veterans Affairs, Wounded Warrior Project, Veterans Inc, Habitat for Humanity Veterans Build, other national nonprofit organizations. VeteransPlus leadership has garnered contracts with Dept of Defense and VA supported several Community Veterans Engagement Boards (CVEB). Additionally, in 2013 and 2014 the Dept of the U.S. NAVY recognized VeteransPlus as the "Most Valuable Resource" to military families, ultimately leading to the recommendation to the Financial Literacy Council who recognized VeteransPlus as the "Champion of Financial Literacy" under the then Florida Chief Financial Officer (CFO) Steve Atwater.

The differentiators to the VeteransPlus model are; a Veteran to Veteran model of financial counseling offering Veterans a better educational experience. This can include topics such as budgeting, managing debt, building savings, and making informed financial decisions. By empowering Veterans with financial knowledge, they gain a sense of control over their finances, reduce financial stress, and improve overall mental well-being. With trusted Veteran peer support and guidance, Veterans are more likely to open up about their particular struggles and the inability to manage their finances, develop budgets, and explore debt management strategies. VeteranPlus financial counselors alleviate some of the financial burdens that may contribute to feelings of hopelessness or despair. This has been the VeteransPlus model since 2008 and is what has propelled the nationwide trusted brand among DoD and the most impactful VSO's.

This program is specifically for Educational Outreach, Educational Financial Planning and Counseling, Case Management Services, Baseline Mental Health Screening, Peer Support Services to assist eligible individuals with issues that may contribute to the risk of suicide related to unmet needs. The same Health.com article stated, "Financial stress is a risk factor for suicide. Stress, of any kind, can lead to symptoms of depression and anxiety. Having loans and other debt can increase anxiety, distress, and depression levels—all of which can put someone at risk for suicidal ideations." Because VA does not offer financial planning and counseling, 100% of Veterans in the target area represent an unmet need. Additionally, 100% of Veterans in the same targeted area not enrolled in VA healthcare, are also considered vulnerable to an unmet need for peer support services.

The VeteransPlus’ triage approach connects applicants to high-touch programs such as emergency resources, financial education, HUD housing services, employment initiatives, and various types of licensed counseling experts aimed at “Treating the Whole Veteran” and improving resiliency. Veteran suicide is usually not the result of any one issue alone but is often exacerbated by other circumstances that become overwhelming, particularly when they are unable to find help and lacking the financial resources to sustain. Applicants blindly search for organizations that offer assistance, but because every nonprofit has by-laws that spell-out who they help and where they help, those small print details are usually overlooked and increases the likelihood of being declined. When Veterans are identified as at-risk for suicide and they are not enrolled in VA healthcare, VeteransPlus team members will refer participants to a certified Peer Support Specialist who are employees of CAN. Currently, VeteransPlus has 5 certified Peer Support Service specialists that will be made available when referrals need to be made as part of this program.

For this grant system, a date of service must be added. Over 12 months from funding, VeteransPlus will continue to provide detailed and continuous task-oriented financial planning/counseling action plans, trackable outcomes and analysis, session note taking, secure document sharing, and unlimited storage of files related to the each Veteran of the 3 county area. The available metrics will include individual, as well as aggregate program reports illustrating how many Veterans and families had better financial outcomes as a result of the initiative, such as improved credit scores, debt reductions, DTI improvements, saving accounts established and improved overall financial health ratios. Additionally, each Veteran recorded case will collect the baseline survey outcomes, as well as any subsequent surveys and referrals made relevant to the assessment and success of the Veteran. VeteransPlus will houses 650+ accredited AFCPE financial planners/counselors for engagement with Veterans and their family members every week, as referred by nonprofit partners, VSO's, state and local government entities. Every facet of this proposal is in place now and VeteransPlus continues to deliver this worthwhile program.

The organization has never defaulted on financial obligations and is in good-standing with all contracts, as well as previous and current funders.

This program is ell established and in need of continuous funding to handle the number of counseling requests it receives on a weekly basis from the service area of Pinellas, Pasco and Hillsborough counties.