State of Ohio National Economy Information

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Banks

Is the money I have in my bank or savings institution safe?

Many deposits in banks, savings banks and savings and loan institutions are insured by the Federal Deposit Insurance Corporation (FDIC).

On October 3, 2008, FDIC deposit insurance temporarily increased from $100,000 to $250,000 per depositor through December 31, 2009. Accounts have historically been insured in an amount of $100,000 per depositor, or $250,000 for IRAs.

Additional information regarding FDIC insurance and your bank accounts, including whether or not your bank and your account is insured, is available at www.myfdicinsurance.gov.

How does FDIC insurance work?

On October 3, 2008, FDIC deposit insurance temporarily increased from $100,000 to $250,000 per depositor through December 31, 2009. Basic insurance amount has historically been $100,000 per depositor per insured bank.

Individual Retirement Accounts (IRAs) are insured up to $250,000 per depositor per insured bank.

More detailed information is available at www.FDIC.gov, www.myfdicinsurance.gov, or by calling 1-877-275-3342.

The FDIC website has an Electronic Deposit Insurance Estimator (EDIE) which can be used to calculate your deposit insurance coverage. EDIE is available at www.myfdicinsurance.gov.

You may want to contact your local bank branch to better understand your insurance coverage.

How much money can I withdraw in one day?

You and your bank have a deposit contract. The terms of this contract will tell you how much money you can withdraw in one day. Contact your bank for additional information on your deposit contract.

You may be limited on the amount of cash you can withdraw, due to restrictions under federal law.

If you withdraw cash, please keep it in a safe location.

I have certificates of deposit. Are they insured by the FDIC?

See www.fdic.gov or myfdicinsurance.gov for information on FDIC coverage of any deposit with a bank, savings bank or savings and loan institution or call the FDIC at 1-877-275-3342.

Many banks participate in the Certificate of Deposit Account Registry Service (CDARS) in order to assure maximum FDIC coverage for certificate of deposit clients.

Information about CDARS can be found at www.cdars.com.

Ohio chartered banking institutions are allowed to participate in the program.

Please check with your financial institution to determine any fees and penalties if you withdraw your certificate of deposit early.

How does my bank invest their money?

Refer to the www.FDIC.gov Bank Find function, which will include financials.

Generally, banks and thrifts use funds on deposit to make loans and investments.

If my financial institution closes, how long will I have to wait for my insured deposits?

If your institution is closed, the FDIC will announce if another bank has taken over your bank, or if not, when funds will be made available. If the FDIC announces that another bank will take over for your bank, you should be able to bank as usual, but may need to visit a different office or branch. The FDIC will provide additional information on its website at www.fdic.gov, including the types of accounts transferred to the new bank and a telephone number to call for details.

For additional information regarding bank closures and the FDIC, check the FDIC website at www.fdic.gov, and click on "Quick Links for Consumers & Communities" or call the FDIC at 1-877-275-3342.

If my bank is closed, can I use my debit or credit card?

Debit cards associated with an FDIC-insured account should be available. The FDIC will provide information on its website at www.fdic.gov, including a telephone number to call for details.

For additional information regarding bank closures and the FDIC, check the FDIC website at www.fdic.gov, and click on "Quick Links for Consumers & Communities" or call the FDIC at 1-877-275-3342.

Credit Unions

Is the money I have at my credit union safe?

A federal credit union is a nonprofit, cooperative financial institution owned and run by its members. Members' accounts are insured by either the National Credit Union Administration (NCUA) or private insurance. Accounts insured by the NCUA are insured up to $100,000, and are backed by the full faith and credit of the US Government. To learn more about your NCUA insured funds, www.ncua.gov. Privately insured accounts may vary so check with your credit union for details.

Credit Cards

Can I still use my credit cards?

Watch your mail or read your monthly credit card statement for any notices from your credit card company regarding changes in the terms for your credit card, including changes to your credit limit or your ability to continue utilizing your account. Call your credit card company with questions concerning your credit cards.

Visit www.federalreserve.gov/Pubs/shop/ for addition information regarding reading your credit card statement and for information regarding your rights and responsibilities associated with your credit card.

Will my interest rates go up or down?

Watch your mail or read your monthly credit card statement for any notices from your credit card company regarding changes in the terms for your credit card, including changes to your interest rate. Call your credit card company with questions concerning your credit cards.

Visit www.federalreserve.gov/Pubs/shop/ for addition information regarding reading your credit card statement and for information regarding your rights and responsibilities associated with your credit card.

Will credit card debt be forgiven?

Call your credit card company with questions concerning your credit card.

Investments

Annuities

Are the life insurance and annuity policies I purchased safe — or am I going to lose my money?

Your policies are safe. Ohio licensed life insurance companies are financially sound and fully able to honor all policyholders' claims. The Ohio Department of Insurance closely monitors life insurers to ensure policyholders are protected and that there will continue to be sufficient assets to pay claims.

Should I cash in my life insurance and annuity policies?

As stated above, Ohio life insurance companies are financially sound so your policies are not in jeopardy. Whether you should cash in your life insurance or annuity insurance policy or switch insurance to another insurer is, as always, a personal decision. Please be aware that some policies may contain surrender charges and/or cancellation penalties. Talk to your financial adviser before making any decisions.

Would my life insurance and annuity policies be protected if my company is declared insolvent and ordered to be liquidated by a court?

Yes, there are limited protections. There are guaranty funds in place in all states which act as a safety net in the event an insurer becomes insolvent. You may obtain information about Ohio's Life & Health Guaranty Association by calling (614) 442-6601 or at www.olhiga.org.

How can I check on the financial status of my company?

You can search for your company using the NAIC's Consumer Information Source (CIS). Here you will find financial information specific to the company, as well as complaint data and licensing information. https://eapps.naic.org/cis/.

Who do I call if I have questions about my policy?

Talk to your financial advisor or contact the Ohio Department of Insurance Consumer Services Division at (800) 686-1526.

What can I do if I am having difficulty getting through to my company on the telephone?

You may contact the Ohio Department of Insurance Consumer Services Division at (800) 686-1526 and they will assist you in reaching your company. You can also visit the Department's website at www.insurance.ohio.gov.

Retirement — 401K, IRA, Pensions (Public and Private)

Are my retirement funds safe?

If the funds are in an insured institution, they are insured by the FDIC.

More detailed information available at www.FDIC.gov or by calling 1-877-275-3342.

The FDIC website has an Electronic Deposit Insurance Estimator (EDIE) which can be used to calculate your deposit insurance coverage.

If your retirement funds are with an investment company, contact the company to determine the status of your funds.

Loans

Mortgages

If my bank is closed, do I have to pay my mortgage?

Your legal obligation does not end with the sale or liquidation of your financial institution. Your obligation will be transferred to the successor of the original institution.

Equity Lines

Will my equity line credit be frozen?

During the transition, there may be limited access. Contact the successor institution for further details.

Health and Human Services

In today's difficult economic climate, the pressures on families are greater than ever. To help Ohio's families find solutions to their temporary challenges, the Ohio Department of Job and Family Services offers a wide range of assistance.

This includes unemployment compensation, health care, cash assistance, food assistance, child care, child support enforcement and administration, and employment and training assistance. For more information about these services and how to access them, just click on the questions below.

Unemployment Compensation

How do I know if I'm eligible for unemployment compensation?

If you lost your job through no fault of your own, it's likely that you qualify for unemployment compensation. For more information, visit http://jfs.ohio.gov/factsheets/ucregular.pdf or call our toll free number: (877) OHIOJOB (644-6562).

How can I apply for unemployment compensation?

There are several options to choose from when filing a new application for Ohio unemployment benefits or reopening an existing Ohio claim. You may access our Web site 24 hours a day, 7 days a week, at http://unemployment.ohio.gov. You may also file toll free by telephone at (877) OHIOJOB (644-6562) or TTY at (888) 642-8203. Business hours are 8 a.m. to 5 p.m., Monday through Friday, except holidays. When you call, please have paper and pencil available.

Health Care

Our family can't afford health insurance. What should we do?

You might be eligible for Medicaid, the federal- and state-funded health care program for eligible individuals with low income. Medicaid provides access to health care services for children, pregnant women, families with children younger than 19, people with disabilities, and adults 65 and older who meet certain financial requirements.

To see if you might be eligible, and for more information about the Medicaid program, contact your local county department of job and family services (CDJFS), visit http://jfs.ohio.gov/OHP/consumers, or call the toll-free Medicaid Consumer Hotline at (800) 324-8680.

How can we apply for Medicaid?

By filling out a "Request for Cash, Food Stamp and Medical Assistance" form and submitting it to your local county department of job and family services (CDJFS). You can obtain the form online, at http://jfs.ohio.gov/OHP/consumers/Application.stm, or by calling or visiting your local CDJFS.

Answer the questions on the form as thoroughly as possible. You will be asked to attach copies of your income, resources (if applicable), proof of citizenship or qualified-alien status, pregnancy (if applicable) and other insurance you may have. If you are applying because you are age 65 or older or disabled, you will need to provide proof of your age or disability, as well. If English is not your primary language; if you have a disability, are hearing-impaired or visually impaired; or if you have questions about your case, someone at the CDJFS can help you complete your application.

You can then drop off, mail or fax in the application, and you may be called in for an interview.

What health care services are covered under Medicaid?

For a complete list of covered services, see http://jfs.ohio.gov/OHP/consumers/benefits.stm.

What is the difference between Medicaid and Medicare?

Medicare is a federal health insurance program that pays for certain health-care services for people age 65 and older or who are significantly disabled, have a sufficient work history, and have made payments into the Social Security program. Unlike Medicaid, Medicare is completely financed and administered by the federal government.

Medicaid is a public health care program funded by the state and federal government. It provides necessary health care coverage to certain individuals with limited income. In Ohio, a person is entitled to Medicaid health care coverage for free or at a low cost if they meet specific income and eligibility requirements. As an entitlement program, the state cannot limit the number of eligible persons enrolled in Medicaid or deny access to medically necessary services to control costs.

What Medicaid services are available for older adults and people with disabilities?

Medicaid for older adults and people of all ages with disabilities covers primary, acute and long-term care. It also covers prescription drugs, home care, doctor visits, hospital care, laboratory work and X-rays, medical equipment and supplies, dental care, transportation, mental health, vision services, alcohol and drug rehabilitation, and other services. For more information, call or visit your county department of job and family services (CDJFS) or go to http://jfs.ohio.gov/OHP/bcps/FactSheets/ABD_Medicaid.pdf.

I think I may make too much money to qualify for Medicaid. Should I still apply?

Yes. You may be eligible for certain deductions that could reduce your income to help you qualify. For more information, call or visit your county department of job and family services (CDJFS) or go to http://jfs.ohio.gov/OHP/consumers/incGuide.stm.

My family doesn't qualify for Medicaid, but we still can't afford health care coverage for our children. What should we do?

Ohio offers a state-funded Children's Buy-In (CBI) program for certain uninsured children in families with income over 300 percent of the federal poverty level. The program is open to children younger than 19 who are U.S. citizens and Ohio residents and who have been uninsured for the previous six months. Families with children enrolled in the program are required to pay monthly insurance premiums, which are determined based on the size of the family and annual household income. For more information, call the toll-free number (800) 324-8680 or visit http://jfs.ohio.gov/ohp/cbi/.

Food Assistance

How do I know if I'm eligible for food assistance?

To be eligible for food stamps — our primary food assistance program — your family income cannot exceed 130 percent of the federal poverty guideline ($27,560 for a family of four). To see if you might be eligible, visit the food stamp screening tool online at www.snap-step1.usda.gov/or call or visit your local county department of job and family services (CDJFS). You can also find more information about the program at http://jfs.ohio.gov/factsheets/foodstamps.pdf.

You also may be eligible for emergency food assistance. Emergency food assistance means food products provided by local nonprofit agencies, such as food pantries. To be eligible for emergency food assistance, your family income cannot exceed 200 percent of the federal poverty guideline ($42,400 for a family of four).

To find a nonprofit agency that can help you with emergency food assistance, visit http://feedingamerica.org, click on "Food Bank Locator," and type in your Zip code.

You can also contact your local county department of job and family services (CDJFS) and ask them to help you find an agency that provides emergency food assistance.

How can I apply for food assistance?

By filling out a "Request for Cash, Food Stamp and Medical Assistance" form and submitting it to your local county department of job and family services (CDJFS). You can obtain the form online, at http://jfs.ohio.gov/ofam/cmandfsa.stm, or by calling or visiting your local CDJFS.

Answer the questions on the form as thoroughly as possible. If you do not know all of the information on the form, you only need to complete the first page and sign and date it. You will be asked to attach copies of your income, resources (if applicable), proof of citizenship or qualified-alien status, pregnancy (if applicable) and other insurance you may have. If you are applying because you are age 65 or older or disabled, you will need to provide proof of your age or disability, as well. If English is not your primary language; if you have a disability, are hearing-impaired or visually impaired; or if you have questions about your case, someone at the CDJFS can help you complete your application.

You can then drop off, mail or fax in the application, and you may be called in for an interview.

Cash Assistance

How do I know if I'm eligible for cash assistance?

Ohio offers two primary types of cash assistance: Ohio Works First (OWF) and Disability Financial Assistance (DFA). Ohio Works First provides time-limited monthly cash assistance to eligible families along with activities to assist with employment. For more information, go to http://jfs.ohio.gov/factsheets/OWF.pdf or call or visit your local county department of job and family services (CDJFS). The Disability Financial Assistance Program provides a monthly cash assistance benefit to eligible, needy, disabled individuals without minor children. For more information, go to http://jfs.ohio.gov/factsheets/disabilityFA.pdf or call or visit your local county department of job and family services (CDJFS).

How can I apply for cash assistance?

By filling out a "Request for Cash, Food Stamp and Medical Assistance" form and submitting it to your local county department of job and family services (CDJFS). You can obtain the form online, at http://jfs.ohio.gov/ofam/cmandfsa.stm, or by calling or visiting your local CDJFS.

Answer the questions on the form as thoroughly as possible. If you do not know all of the information on the form, you only need to complete the first page and sign and date it. You will be asked to attach copies of your income, resources (if applicable), proof of citizenship or qualified-alien status, pregnancy (if applicable) and other insurance you may have. If you are applying because you are age 65 or older or disabled, you will need to provide proof of your age or disability, as well. If English is not your primary language; if you have a disability, are hearing-impaired or visually impaired; or if you have questions about your case, someone at the CDJFS can help you complete your application.

You can then drop off, mail or fax in the application, and you may be called in for an interview.

Child Care

I want to work, but I can't pay for child care. Can ODJFS help?

ODJFS offers financial assistance to eligible needy parents to pay for child care while they engage in work and training efforts. Families whose income is at or below 200 percent of the federal poverty guideline can receive payment for all or part of their monthly child care expenses.

How can I apply for child care assistance?

Call or visit your local county department of job and family services (CDJFS). You can fill out an application, and staff there will determine whether you are eligible.

For more information, go to http://jfs.ohio.gov/cdc/Page4.stm or call the Office for Children and Families Help Desk, toll free, at (866) 886-3537, option 4.

How can I find certified child care providers that accept child care assistance?

Your local county department of job and family services (CDJFS) certifies providers to be able to offer care for children receiving assistance. You can also visit http://www.odjfs.state.oh.us/cdc/query.asp to search a directory of licensed and certified child care providers. In the search criteria, select "County Contract" to find providers accepting child care assistance.

Child Support

I just lost my job. How can I pay my child support?

If you have a child support order in Ohio and you lose your job through no fault of your own, you have the right to request a review of your child support order from your local child support enforcement agency (CSEA). The CSEA will consider your case and present a recommendation for a possible adjustment. The amount you pay could go up, go down or stay the same. To find the CSEA in your county, call (800) 686-1556 toll free or visit. http://jfs.ohio.gov/County/cntydir.stm.

I haven't lost my job, but I'm still having trouble paying my child support. What should I do?

If you have experienced at least a 30 percent decrease in gross income or income-producing assets for a period of six months because of circumstances beyond your control, and you expect that decrease to continue for an extended period of time, you have the right to request a review of your child support order from your local child support enforcement agency (CSEA). The CSEA will consider your case and present a recommendation for a possible adjustment. The amount you pay could go up, go down or stay the same. To find the CSEA in your county, call (800) 686-1556 toll free or visit http://jfs.ohio.gov/County/cntydir.stm.

My children receive child support, and it helps, but I just lost my job. Is there any way I can get my children's father/mother to pay more support?

Custodial parents also have the right to request a review of their child support orders if their income drastically changes. Contact the child support enforcement agency (CSEA) in your county by calling (800) 686-1556 or visiting http://jfs.ohio.gov/County/cntydir.stm. The CSEA will consider your case and present a recommendation for a possible adjustment. The amount you pay could go up, go down or stay the same.

My children's father/mother has stopped paying support. What can I do?

Contact your local child support enforcement agency (CSEA) by calling (800) 686-1556 toll free or visiting http://jfs.ohio.gov/County/cntydir.stm.

Employment and Training Assistance

What employment and training assistance does ODJFS provide?

ODJFS oversees a network of 90 locally operated "One-Stop Centers" in 20 workforce areas throughout Ohio. The One-Stops provide free job training and other employment services to Ohioans looking for work. They match job seekers with businesses looking to hire workers, and help laid-off workers learn new skills and find new jobs. For more information, see http://jfs.ohio.gov/workforce/.

Ohio also has a new Web site listing job opportunities from all of the major commercial job boards, niche industries, national and Ohio fortune 100 companies, and state of Ohio jobs. To search available jobs by key word or location, visit http://www.ohiomeansjobs.com/.

How can I apply for employment and training services?

Call or visit the One-Stop nearest you. Go to http://jfs.ohio.gov/owd/jobseekers/one-stop-services.stm for a map and local contact information.

How can I find a job?

Visit http://www.ohiomeansjobs.com, Ohio's new, comprehensive job search Web site listing job opportunities from all of the major commercial job boards, niche industries, national and Ohio fortune 100 companies, and state of Ohio jobs.

Other Assistance

Are any other types of assistance available?

Each county department of job and family services (CDJFS) offers additional programs and services through their Prevention, Retention and Contingency (PRC) program.

PRC services can include such things as clothing and shelter; domestic violence help, housing relocation and disaster assistance; transportation (including auto repair expenses or down payment on an automobile); and job training, employment search help and work support. However, each county's program offerings may be different based on local needs.

You can apply for PRC services and benefits at your local CDJFS. You can find out what your county offers by looking at its PRC plan. County PRC plans can be found at http://jfs.ohio.gov/owf/prc/county/countytable.stm.