When it comes to navigating the world of employee benefits, there’s a lot to take in, especially if you’re a first timer. Among the suite of benefits you’re likely to be offered, voluntary benefits are often misunderstood. What are Some Examples of Voluntary Benefits? Voluntary benefits include a variety of options, all designed to...
Employee Benefits Education
Health savings accounts (HSA) have many benefits such as saving for future expenses and even investing. Money in an HSA can also be used to cover current expenses such as copays, medication costs and dental appointments to name a few.
Money put aside in an HSA account is a great way to cover everyday healthcare costs. Expenses can add up quickly, especially with increasing inflation. Using a health savings account can help save money in the long run.
The open enrollment process can be a baffling process for many but even more so if English is not your primary language. Businesses must be aware of their employees needs and offer assistance such as learning materials to help employees understand the enrollment process and benefits available. Those whose primary language is not English may need additional help and resources to be able to make an informed decision. It is vital that all employees have the opportunity to ask questions and think about which plan is right for them. Having an employee in HR available to discuss benefits would also be beneficial.
The information in this blog post is for educational purposes only. It is not investment, legal or tax advice. For legal or tax advice, you should consult your own counsel. To stay up to date on benefits trends and insights, subscribe to our blog.