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Great Employment Benefits You Should Look For

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It isn’t uncommon for employers to offer health insurance, a 401(k) plan or other perks in addition to an annual salary. While benefit packages may be largely the same regardless of where you work, it is still a good idea to know what a prospective employer could provide.

A 401(k) Match Is Essentially Free Money

If your employer is willing to match your 401(k) contributions, you are getting the equivalent to a 100% return on your investment. The match usually isn’t unlimited i.e. you couldn’t double your entire salary by contributing all of it but whatever the maximum is you should definitely try to take advantage of all of it.  Best of all, this money will grow exponentially and tax-free for many years or decades to come. As an employer match can make it easier to retire comfortably, it is important that you understand how it works and how to best take advantage of it.

Health Savings Accounts Can Accrue Interest

Money kept in a health savings account (HSA) could [Read more…] about Great Employment Benefits You Should Look For

Things You Need to Do Quickly if You’re Unemployed

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Losing a job is never a good feeling, whether or not you saw it coming ahead of time. However, regardless of why you are no longer employed, it is important that you take action to protect yourself and your family until you find work again. Depending on your age, a job loss may be the perfect time to start thinking about retiring, and collecting Social Security or looking for part-time work. No matter what direction you choose after losing your job, here are some important things you need to do.

File for Unemployment

As we said in Stretch Your Dollars While Between Jobs filing for unemployment should be the first thing you do if you become unemployed through no fault of your own even if you think your unemployment will be short-lived. After all, any extra money you can pick up will be useful while you are unemployed. If you are eligible for Social Security you may want to sign up for that instead. Legal professionals may be able to help with your case. This video explains some factors in choosing when to file for Social Security. It says that if you have the option of filing for Social Security Disability or Social Security retirement benefits you are much better off filing for the disability benefit. This is because disability will be 100% of your benefit while if you are filing early for Social Security your benefit will be reduced.

Alert Your Creditors

If you think there is any possibility that you won’t be able to make the payments on your debts it is important that your creditors know that before you fail to make credit card, car, or other payments. It may be possible to make alternate arrangements to stay current on your debt balances. [Read more…] about Things You Need to Do Quickly if You’re Unemployed

Health Insurance Options for Unemployed Workers

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Health Insurance Options-

Health Insurance Options

Finding yourself without a job is stressful. There are many decisions to make when you are unexpectedly laid off, and the worries are overwhelming. Healthcare – or lack thereof – often tops the list of concerns for the newly unemployed.

Although many people automatically opt for COBRA coverage after learning that their position has been eliminated, it’s important to know that there are other options available. A little homework could deliver significant savings and provide peace of mind in knowing that your family has healthcare coverage while you look for another job.

An independent healthcare plan might be your best option, particularly if you and your family are in good health. The higher the deductible you choose and the higher the of out-of-pocket costs you’re willing to incur, the  lower your monthly premium will be. Accidents can happen at any time, but if you feel you’re close to landing a new job and you want to minimize your monthly costs, you may want to choose a high-deductible policy and consider it catastrophic-only coverage. Keep in mind that all insurance policies now cover annual exams, such as well woman visits and pediatric check ups.

People with pre-existing conditions are sometimes skeptical about choosing an independent healthcare plan. While it’s true that much of the Affordable Care Act, which stipulates that no one can be denied health coverage regardless of health status, are not yet all in place, there are provisions that protect children. If one of your minor dependents has a chronic illness and has been denied healthcare coverage in the past, he or she can now be covered. It’s true, though, that [Read more…] about Health Insurance Options for Unemployed Workers

The Top 5 Health Insurance Companies

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Finding The Right Health Insurance Company

With fewer jobs in the country due to a poorly performing economy and many large companies moving jobs offshore to reduce costs, many US residents have taken it upon themselves to open up their own small businesses. Naturally, these entrepreneurs are looking to find the best health coverage for themselves as well as for their families. Researching the right health insurance plan that will not only satisfy your individual needs, but also the needs of your family is no easy task, as health insurance coverage needs vary from person to person.

When conducting your research on what coverage you need for your health needs, the insurance company will consider the following factors:

  • Your age
  • Your Income
  • Whether or not you smoke/drink
  • Your Geographic location (not all providers are available in every state)

Health Insurance CompaniesYou on the other hand will be concerned with these factors:

  • What is the deductible?
  • How much is the co-pay for each doctor visit?
  • How much is the co-insurance? (The percentage you have to pay before you reach the out-of-pocket limit)
  • Out of Pocket Maximum Per Year
  • Maximum per Person / Per Family
  • Exclusions (for Preexisting conditions etc)
  • Limitations on which Doctors you can use
  • Acceptance at local hospitals
  • Out of Network Acceptance (if you are traveling)

An excellent way to reduce your health insurance costs is by using a Group Health Insurance Policy.  If you can get insurance as one of the Benefits  through your place of employment or even by join a group or organization, you may be able to reduce your costs by getting in on a group policy.

See: What is Co-Insurance?

Group Health Insurance Policies

How to Find the Right Health Insurance Policy?

Tim McMahon~editor

The Top 5 Health Insurance Companies

According to online sources, there are a total of 25 noted health insurance companies that rank well in the services they provide and the fees they charge. The Top 5 Health Insurance Companies are as follows:

[Read more…] about The Top 5 Health Insurance Companies

Group Health Insurance Policies

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Group Health Insurance Policies

We all understand the importance of a good health insurance policy. It not only provides financial coverage against unexpected health costs but it also reduces worry about it. With the help of a good health insurance policy, you can easily reduce the risk of developing serious health issues. Uninsured people generally ignore minor health issues or self-medicate. But when people have the coverage of a good health insurance policy, they feel more comfortable consulting a doctor before the problem has a chance to become more serious.

Group health insurance policies are generally provided by the employer of the firm you are working for. The insurance is provided for a group of employees as a whole. The insurance company provides a certificate to each of the group members. The best part about this type of insurance is that the employees do not need to qualify for coverage so you don’t need to worry about pre-existing conditions that might prevent you from getting an individual insurance policy. As an added bonus the employer often covers half the premium or even more as a benefit. Group health insurance policies might even provide coverage for certain health issues that are not covered under an individual policy.

[Read more…] about Group Health Insurance Policies