STEPHEN SMALENBERGER, EA ®
So as we’re entering the new year, it’s a great time to review the employer benefits that your company offers you. Especially if it’s a larger company. What do you have? What should you have? And what changes can you make now in a fresh new year?
So there’s three main groups:
The first employer benefit we’ll call personal. Those are things like health insurance, health savings accounts, vision, dental, retirement, 401Ks.
The next employer benefit is what we’ll call protection. So those are things that provide for your family when you’re not around. So maybe it’s life insurance. You get some free from your employer, maybe you should buy some more. Buy some for family members, like a spouse or child. There is disability, in case anything happens to you. And then there is long term care, for when you’re older.
And the last employer benefit is value add. These are things that smaller companies often don’t have, so this will be a larger company. Sometimes they give you credits to allow you to go work with an attorney to have legal depth documents drafted. Or to work with a financial planner, paying for that for you. Maybe it’s a gym membership, a car, childcare.
These are all things that are benefits to you. You want to be sure you’re taking advantage of. And at the beginning of a year, it’s a really good opportunity to review that.
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