New Job? 6 Benefits That Make the Most of Your Money

new job 6 benefits that make the most of your money

Sumary of New Job? 6 Benefits That Make the Most of Your Money:

  • Image source: Getty Images 1. Health insurance is a must The premium may be expensive, but healthcare coverage is critical for almost everyone.
  • If you’re generally healthy, you may consider opting for a cheaper plan, but know that that will likely have lots of copayments.
  • If you are covered by a spouse or parent, you can opt out of health insurance, but verify your coverage before you make that choice.
  • Health insurance can help you get the care you need to keep a small health issue from turning into a large one, saving money in the long run.
  • 2. HSAs, FSA, and Limited-Purpose FSAs are nice add-ons In addition to health insurance, many employers offer tax-saving Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), or Limited-Purpose FSAs (FSAs for vision and dental coverage only).
  • With these plans, you set aside pre-tax dollars and use the money for those out-of-pocket costs not covered with insurance.
  • HSAs are only available with some types of healthcare plans, and money you don’t use now can be used in the future.
  • FSAs and Limited-Purpose FSAs are both use-it-or-lose-it accounts.

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