Three of the Big Four offer medical Flexible Spending Accounts (FSA) as part of their employer benefits package. A FSA is a fantastic option to manage the cost of your medical expenses. This is because a FSA gives you a very nice tax break. Yet, many employees of the Big Four never take advantage of the FSA because they are either unaware that FSA exists, are aware of the benefits of a FSA, or because they are scared of the “use-it-or-lose it” rule. [Read more…] about FSA: Save Money with a Medical Flexible Spending Account
Federal tax law allows for tax-free employer-provided health care coverage. Your employer-provided health insurance is a tax-free benefit. This is unlike other benefits that you may receive from your employer – such as a health and fitness subsidy, which is taxable.
Employer-provided health care for your spouse and children are also tax-free. However, health care coverage provided to domestic partners is not tax-free. [Read more…] about Taxation of Health Insurance Benefits for a Non-Spouse
In another post, we talked about employer-provided disability insurance – and the shortcomings of it. One of the problems is the gap in coverage – which could leave an individual without income for more than three months! [Read more…] about Personal Finance – Why You Need an Emergency Fund
As part of their benefits package, all members of the Big Four offer some sort of disability insurance. Unfortunately, group (i.e. employer-provided) disability policies are usually far from perfect – leaving you severely exposed. [Read more…] about Big Four Disability Insurance
401(k)s are employer-provided investment accounts designed to meet your financial needs in retirement. These accounts receive special tax treatment and creditor protection. It works like this: You put money in the account now – and take money out once you have retired. [Read more…] about What’s a 401(k)?