8 tips for getting the most value from your benefits

Your company benefits represent a big part of your total rewards package. They not only provide valuable coverage that allows you to take care of your (and your family’s) well-being, but also help you save money and enjoy greater financial security.

Now is a good time to familiarize yourself with everything that’s available to you. Follow these tips to make sure you’re not missing out!

1. Explore this website. You’re in the right place to learn all about your benefits. Invest a little time in clicking through the pages of this website. You might find benefits you didn’t know about!
2. Get to know your EAP. Yes, the Employee Assistance Program (EAP) offers free counseling and 24/7 support — but that’s just the beginning! You can turn to the EAP for resources and services that make your everyday life easier and less expensive, like finding childcare, accessing discounts, connecting with service professionals, and learning about various topics from self-care and family to money and career. Start by visiting the EAP online (you’ll find the link right here on this website) and poke around.
3. Stay in network. Even if your medical, dental, or vision plan provides out-of-network coverage, you will still get the best value from your benefits by staying in network. In-network providers have agreed to negotiated rates and will bill your insurance directly, saving you time and money. Use the online directory on your plan’s website to find providers who belong to your network or call the number on the back of your member ID.
4. Maximize your health insurance. You likely use your health insurance regularly to help pay for the cost of appointments and prescriptions. But did you know that as a health plan member, you may have access to additional perks? Create an online account with your medical, dental, and/or vision plan(s) and click around. You’ll probably come across information about exclusive discounts on things like gym memberships, vision correction surgery, contact lenses, fitness products, hearing aids, wellness programs, and more.
5. Pay less in taxes. If you contribute to a Flexible Spending Account (FSA) or Health Savings Account (HSA), you can use tax-free money to pay for eligible expenses, which results in significant savings for you. Because the money deducted from your paycheck to fund these accounts is not taxed, you could save up to 30% or more (depending on your income tax rate). To maximize your tax savings, use your Health Care FSA/HSA money for everything you possibly can, including over-the-counter medication, sunscreen, bandages/first aid supplies, menstrual products, and much more. If applicable, be sure to submit reimbursement claims before the deadline.
6. Plan for the unexpected. While we all hope to live a long, healthy life, it’s important to plan for life’s “What if’s.” This includes protecting your financial security through life and disability insurance. They ensure vital income replacement if you were unable to provide for your family or meet your financial obligations due to disability or death. Review the information on this website to learn about your life and disability insurance benefits.
7. Prepare for the future. Your company retirement plan helps you build savings for your future financial needs. The plan offers the convenience of automatic payroll deductions, which makes it effortless to contribute money consistently — one of the key strategies for successful saving. You’ll also benefit from tax advantages and other built-in features. Learn more on this website.
8. Look beyond the obvious. You may also want to consider lesser-known coverage options, like supplemental policies that provide extra financial protection as well as additional benefits that help you save money and enjoy added peace of mind related to everyday life. As you think about your benefit decisions, be sure to take all your options into consideration. Explore this website before enrolling as a new employee or during the annual open enrollment period. Note that not all benefits require enrollment. Some benefits (like the EAP and others) are available to you anytime.