Posted to #benefits
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Yiming Shuang
Community Specialist
Community Specialist
over 6 months ago
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It’s that time of the year when companies are renewing their employee benefit plans. Lots of members and friends in my personal network are learning the not-so-jolly news💸 that they will either have to contribute more for the current healthcare coverage, or they will have to compromise for a downgraded health plan.

A few tips to share on how to make the best of your job benefits:

  • 🧮Do the math: figure out the actual amount that you will receive after all the healthcare and other benefit deduction. Here’s a great calculator that can help you do the math and balance your 2022 budget.
  • 🧐Brainstorm alternative: if your deductible is increasing, does your employer offer flexible spending accounts to offset some costs? If both you and your partner are working, maybe compare the health benefits and see if it makes better sense to switch to the better option. If you feel like you’re running out of options, you can also start looking for other companies that might offer better benefits.
  • 🙋‍♀️Ask for advice: it can be very overwhelming to figure out these terms and conditions. Go to the HR or benefit consultant for clarifications. Ask your own tax adviser. And if necessary, talk to your employer directly if you have concern about your shrinking paychecks.

What are your experiences when choosing your benefits? Any smart savings tips?

#benefits #worklifehacks

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Susan Walker

My husband has made the same money for the past ten years because of healthcare cost. He gets minimal raises that get sucked away. I honestly don’t know why he doesn’t change jobs. He could make a lot more money if he did.

My husband has made the same money for the past ten years because of healthcare cost. He gets minimal raises that get sucked away. I honestly don’t know why he doesn’t change jobs. He could make a lot more money if he did.

29w
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Jose Pena

I don't 't really receive benefits in. my current role as a substitute teacher. But this is really informative.

I don't 't really receive benefits in. my current role as a substitute teacher. But this is really informative.

29w
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Ford Simpson

Definitely,I hate to look at my pay statements and see the the money I am spending.Ford

Definitely,I hate to look at my pay statements and see the the money I am spending.Ford

29w
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Sabrina Wellington

Yes! Absolutely!

Yes! Absolutely!

29w
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Michael Rucker

Yes, Absolutely. Company medical insurance and all benefits get more expensive and shrink each ear without a raise and the company talks about what a great job they are doing and covering so much of the cost. BS! The US is losing in medical care compared to other countries.

Yes, Absolutely. Company medical insurance and all benefits get more expensive and shrink each ear without a raise and the company talks about what a great job they are doing and covering so much of the cost. BS! The US is losing in medical care compared to other countries.

29w
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Nancy Learner

I wish there is a more transparent process about how our benefits get updated. It's disappointing every year that we are just getting more watered down coverages.

I wish there is a more transparent process about how our benefits get updated. It's disappointing every year that we are just getting more watered down coverages.

30w
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Mike Newton

Not even mention the additional cost of affording a family plan. With the inflations we are really making pennies here.

Not even mention the additional cost of affording a family plan. With the inflations we are really making pennies here.

30w
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