Benefit plans can make up a significant part of your total pay. It’s worth getting all the information you can about employee benefits when you are offered a job.
Before accepting, you will usually negotiate a starting salary or base pay. In addition, your employer may offer certain benefit plans. If you’re having trouble agreeing on a salary or other terms, look beyond salary. Vacation time, personal days and other benefits are extremely valuable and may be negotiated more easily than a higher starting salary.
Your employer’s benefit plan saves you money since your employer pays for things that you would otherwise have to cover yourself. For example:
If your spouse’s employer also offers a health plan, you can save money by comparing the plans and choosing the one with the best coverage for the lowest cost.
You can also save money by coordinating between your employer’s plan and the plan offered by your spouse’s employer. If the two plans have different levels of coverage, coordinating your family benefits can help you recover up to 100 percent of your expenses.
Before signing up for a benefit plan, find out: