It’s Open Enrollment Season, so if you work for a medium- or large-sized company, you will need to make some choices regarding your employee benefits — and these choices can have a big impact on your financial situation.
Depending on your employer, your benefits package may include various types of insurance, plus access to a 401(k) or similar retirement plan. Here are some suggestions for getting the most out of these benefits:
Health insurance – Companies regularly change plans and providers, so the coverage and premiums you had last year may not be the same this year. In any case, look at all aspects of your coverage options – premiums, deductibles, co-pays and total out-of-pocket limits. A lower premium may seem attractive, but you could end up paying even more if the coverage is not as good. So, choose wisely.
