Wait can you Yes, really Lose money on your retirement plan? The answer is, Yes indeed! Many people actually are now lose Money due to the overwhelming nature of choosing employee benefits such as B. Health and Health Savings Accounts.

In fact, in the last month alone, I’ve come across several different situations highlighting this very issue, including:

● Reduced premiums, same insurance coverage

● Flexible spending accounts for health and relatives

● Appropriate contributions, non-discretionary funds

● Health Savings Accounts (HSA)

● Disability insurance

● life insurance

● Comparison between spouses, corporate philosophies

Don’t let unfamiliar terminology fool you into making wrong decisions when choosing your employee benefits

When I was discussing employee benefits with a newly married person, they heard the phrase “high deductible” and immediately rejected it. She asked, “Why should I want to pay a high deductible?” The real cost difference between a high deductible health plan and a no high deductible health plan is often not that big.

I was quick to explain that a high deductible health insurance plan (in their case, let’s say there was a deductible of $ 1,600 per person) will offer significant premium savings! If ever there was a problem paying the deductible, she could put that money aside in a health savings account (which is saved tax-free) to cover these costs.