Employee benefits open enrollment can be confusing for a lot of people. There are a lot of options to choose from that probably seem like they’re in a different language. My past 5 blog posts have dived into various employee benefits including health insurance, disability insurance, group term life insurance, Dependent Care FSA, and other ancillary benefits to help empower you to make a more educated decision when making your selections for the next year. Personal finance is just that – personal.
Insurance
Guide to Employee Benefits Open Enrollment 2020: Ancillary Employee Benefits
5 minute read
Have you ever looked through your employee benefits options during open enrollment and chosen to pay for something just because you weren’t really sure what it was, but it sounded important or you thought you might need it since it’s being offered to you? No one wants to pay for what they don’t need, but when it comes to employee benefits that are offered to us that we’re not sure whether we need or not it seems like we often “play it safe” and pay for them instead of going without. This can mean spending money on things that may not provide the benefits we thought they would.
Guide to Employee Benefits Open Enrollment 2020: Group Term Life Insurance
7 minute read
Group term life insurance is a very common employee benefit that many people take advantage of. However, not many people think beyond the scope of the coverage offered through their employee benefits to consider why they need the coverage, how long they’ll need it, and if the maximum amount they can get is enough. If there are people who depend on your income who would be financially devastated if something were to happen to you, then group term life insurance is a benefit that you should seriously consider.
Guide to Employee Benefits Open Enrollment 2020: Disability Insurance
8 minute read
Running your household takes a lot of money. From your mortgage to your car payment to your groceries, it all adds up. And we haven’t even mentioned the other expenses you have to pay for to maintain your lifestyle like daycare or eating out or entertainment. Now imagine trying to pay for those things without an income and with no ability to earn. How long would your savings last? What would happen once you spend down your emergency fund?
Guide to Employee Benefits Open Enrollment 2020: Health Insurance
8 minute read
Choosing which employee benefits will be best for your family for the next year can be intimidating and there’s often little to no education to help you make those choices. On one hand, you could end up wasting money that would be better used elsewhere on benefits that are highly unlikely to be used and that may not provide much value even if they were.
Will You Be Ready For A Second Wave?
2 minute read
Today (May 11 as I write this), marks a significant stage in Governor Holbomb’s Back On Track Indiana plan as restaurants are allowed to reopen at 50% capacity and personal services may reopen with restrictions. At the same time, Seoul, South Korea has ordered bars and clubs closed due to the highest coronavirus case infections report in a month with over 50 cases linked to one man who visited many bars and clubs, according to the Wall Street Journal. This is after that country had previously been praised for controlling the outbreak.
Day 22 Of 30 Days Of Stay-At-Home Personal Finance Wins: Review Your Insurance Policies
4 minute read
What if you were able to come out of this time of social distancing and economic crisis with a stronger and healthier financial life? What if you looked at this as an opportunity to take a little bit of your extra time each day to work on your finances?
Re-post: Guide to Employee Benefits Open Enrollment 2019 Part 4: Disability Insurance
8 minute read
While having proper disability insurance coverage in place is one of the most important parts of a solid financial foundation, unfortunately, it’s something that I find most people don’t think is important and don’t want to pay for. It usually doesn’t become apparent how important it really is to have disability insurance in place until something happens and you have a need for it. Life can change in the blink of an eye. If you’re in an accident and not able to work, then how would you pay your bills and support your family?
Health Insurance 2019
2 minute read
As someone who hasn’t used a dollar of health insurance so far in 2019, I’m supposed to pay 18% more for health insurance coverage in 2020.
Guide to Employee Benefits Open Enrollment 2019 Part 4: Disability Insurance
8 minute read
Running your household takes a lot of money. From your mortgage to your car payment to your groceries, it all adds up. And we haven’t even mentioned the other expenses you have to maintain your lifestyle like daycare or eating out or entertainment. Now imagine trying to pay for those things without an income and with no ability to earn. How long would your savings last? What would happen once you spend all that money?
