When I was first beginning my corporate career, I didn’t care much about benefits packages. I imagine that my selection was based solely on finding the cheapest option available. I didn’t have a clue about deductibles, co-pays or preferred providers. That all changed 13years ago when I got pregnant and my husband and I looked at the cost of a hospital birth. Fast forward to the current day when we’ve made many trips to urgent care and the ER and I’m no longer cavalier about making choices when it comes to our benefits package. Let’s just say I’ve learned a few things in the last twenty years.
In this recent this article published by Captain401, I share some suggestions for employees (regardless of their age) about what they need to consider before enrolling in their benefits plan:
You’re excited about the benefits package your employer has to offer, and you’re thankful your overall compensation package includes health insurance, a 401(k) plan, and other perks. With the rising cost of health care and the retirement savings crisis, it’s more important than ever to find an employer that provides these types of benefits. Just be sure you fully understand what the package offers: does the 401(k) have the characteristics of a top plan? Does the health care plan provide coverage that will reduce your out-of-pocket costs?
Before you sign up, you need to have the answers to these and other important questions. Start by asking the following six questions to ensure that you have a solid grasp of how your employer’s benefits package does—or doesn’t—meet your needs.
Read the full article on the Captain401 blog.