Read the following before applying for financial assistance.
Our goal is to provide hope and help to eligible Abbott employees and retirees facing financial hardship. If you are struggling to afford your basic living needs, we encourage you to apply for assistance. Before you apply, consider the following:
1) Are you eligible for Foundation services?
Our services are available solely to Abbott employees with a minimum of two years of consecutive service, and former Abbott employees who were at least 50 years old with 10 years of consecutive service on their last day with Abbott.
2. Are you in financial hardship?
Financial hardship is any situation that threatens your ability to afford basic living needs such as food, clothing or shelter. Hardship can occur when:
- Eligible expenses exceed your household income
- Have excessive debt and/or increasing debt and only able to afford minimum payments
- Behind in monthly payments such as rent, mortgage, utilities, etc,
- Have limited or no access to other resources
- Borrowing from family and friends to make ends meet
3. Are you willing to fully participate in the Foundation’s assessment process at this time?
- You will be asked to participate in a full financial assessment process that includes a financial consultation and a review of various documentation.
- Your financial consultant will request specific documentation, depending on your situation, that substantiates:
- Your request (documents may include: rent, medical bills, etc)
- Financial hardship (documents may include: family income, major expenses, savings, other assets, etc)
- Throughout the process, we rely on an honest and transparent exchange of information so we have an accurate and realistic picture of your situation. Therefore, you will be asked to certify, with consequences outlined in Abbott Business Code of Conduct, that all the information you provide is truthful. If you have any questions about the process, or requested documentation, please don’t hesitate to contact us.
- The process takes about 4-6 weeks.
4. Are you requesting support for an expense we can help with?
- Medical and dental
- Mortgage and rent
- Essential home repairs
- Essential utilities (such as water, electricity)
- Transportation expenses (including vehicle repairs)
- Expenses related to special needs
- Property taxes
- Other short-term expenses
- Expenses related to extended family members such as parents or siblings
- Reimbursement of any payment or purchase unless hardship is determined
- Non-essential repairs or improvements
- Non-essential utilities (internet, cable, etc.)
- Optional/elective medical or dental treatments
- Long-term financial solutions
- New home construction
- Second homes
- Luxury items
- Expenses covered by insurance
- Other non-essential expenses