5 Key Steps to Financial Wellness: Step 4

The fourth key part of most financial wellness plans dovetails with part three.  To receive the guidance you need, whoever is providing that guidance will need detailed information on the benefits made available to you by your employer.  Step for is Benefits!

Maybe your employer offers a retirement plan, health plan, long term disability, vision and dental.  Most of these programs involve some cost sharing by you the employee.  Should you spring for dental or pay as you go?  Should you use a high deductible health plan or a traditional plan?  What is an HSA?

For most Americans, the open enrollment period for your benefits can be confusing and downright intimidating.  Fortunately many folks have excellent HR departments that can guide them through the ins and outs of their benefits package.  But what about those who work for a very small company that doesn’t have an HR department?  What about the self employed?  Understanding the ins and outs of your benefits package goes a long way to improve your financial wellness.  That is why it is key to have a clear understanding of the benefits and how you can benefit from each program offered by your employer.

Stay tuned for part 5!