Skip to main content

Press Release: Military Families Don’t Have Enough Savings to Endure a Financial Crisis

Press Release: Military Families Don’t Have Enough Savings to Endure a Financial Crisis

2019 Survey Presented by Cerner Highlights Challenges Faced by Military Families Exacerbated by COVID-19 Pandemic

WASHINGTON — More than one-fourth (27.4%) of actively serving military families have less than $500 in savings, and 23.4% have no financial assistance plan, according to survey data released today by the Military Family Advisory Network (MFAN). These statistics raise serious concerns around the abilities of military families to weather a looming financial crisis resulting from the COVID-19 pandemic.

Cerner Government Services, Inc., a wholly-owned subsidiary of Cerner Corporation, sponsored MFAN’s 2019 survey, which provides the most rigorous, comprehensive understanding of the needs of military and veteran families in areas that are further impacted by the pandemic, such as financial readiness, mental health, food insecurity, moving and housing, utilization of telehealth options, and intimate partner violence.

 

The following data sets from the survey will be released on these dates:

April 23:

Financial health of military families and their ability to weather a crisis.

May 6:

The importance of feeling connected and the impact of loneliness on military families.

May 20:

The state of mental health among military families, and the role of telehealth.

June 3:

Intimate partner violence in the military community, and concerns during periods of isolation.

June 17:

The stressors associated with moving and how moving impacts a family.

 

 

“Families across the country are experiencing an extraordinary amount of stress amidst the Coronavirus crisis,” said Shannon Razsadin, executive director of MFAN. “For military families, this is exacerbated by COVID-19, extended deployments, unclear move dates, and living far from support networks. MFAN is grateful for Cerner’s generous support—both organizations share a deep commitment to serving the military and veteran communities, and we are proud to bring these data forward at such a critical time.”

With anecdotes surfacing about the impact of the pandemic on military and veteran families, defense leaders and policymakers have been reaching out to MFAN for up-to-date, reliable information. For this reason, MFAN, as the authentic, trusted, and data-informed voice of the modern military family, is expediting the release of its 2019 Military Family Support Programming Survey.

“Cerner is honored to partner with the Military Family Advisory Network, a trusted and respected organization in the Service member and Military Family communities, known for providing valued research with the purpose of improving services and outcomes for modern military families,” stated Travis Dalton, president of Cerner Government Services. “As a health care technology company focused on bringing breakthrough innovation to the federal government, we have a moral and ethical responsibility to support the needs of military families. We hope this important data will help shed light on the urgent needs of these communities.”

Cerner’s is the presenting sponsor of MFAN’s research effort, with nearly 8,000 respondents answering questions online from October 7, 2019 to November 11, 2019. The entire survey will be released at an event on July 17, 2020 in Washington, D.C., featuring expert panel discussions and video narratives from military family members around the country who are personally impacted by each issue. You can read more about the survey findings and methods here.

###

About MFAN: The Military Family Advisory Network is the authentic voice of the modern military family and the bridge that connects military families to the resources, people and information they depend on to successfully navigate all phases of military life. To learn more about MFAN, visit www.militaryfamilyadvisorynetwork.org.

About Cerner: Cerner Corporation’s health technologies connect people and information systems in thousands of contracted provider facilities worldwide dedicated to creating smarter and better care for individuals and communities. Recognized globally for innovation, Cerner assists clinicians in making care decisions and assists organizations in managing the health of their populations. The company also offers an integrated clinical and financial system to help manage day-to-day revenue functions, as well as a wide range of services to support clinical, financial and operational needs, focused on people. For more information, visit Cerner.comThe Cerner Blog or connect on FacebookInstagram, LinkedIn, Twitter or The Cerner Podcast. Nasdaq: CERN. Health care is too important to stay the same.

Media Contacts:

Rebekah Sanderlin
Military Family Advisory Network
sanderlin@militaryfamilyadvisorynetwork.org

910-527-9076

 

Misti Preston
Cerner Corporation
MediaRelations@Cerner.com
816-299-2037

Stay Up To Date

Subscribe to our newsletter and recieve all of the latest MFAN news.

Image of the Author - Rebekah Sanderlin

About The Author

Rebekah Sanderlin

https://militaryfamilyadvisorynetwork.org/staff/rebekah-sanderlin/

Rebekah Sanderlin is the communication strategist for MFAN and an active duty Army spouse. After 20 years in journalism, with work in print, broadcast and new media, she transitioned to public and media relations and strategic and digital communication.

No comments so far.

Leave a Reply

You must be logged in to post a comment.