I dive into the critical components of employee benefits packages during open enrollment season. I walk through key considerations like health insurance options (HSA and PPO plans), life insurance, and disability insurance, explaining how they fit into both personal and family financial plans. I also touch on underutilized benefits like dependent care FSAs, 401k matches, and ESPPs, emphasizing how to maximize these offerings based on individual needs. Ultimately, this episode is a reminder to evaluate your employer benefits annually, ensuring that they align with your unique financial goals and family situation.

Key Takeaways:

• Will securing long-term disability insurance with a private policy provide greater stability for you?

• When carefully planned, FSAs can help you save on taxes.

• Ways you can maximize your employer’s 401k match and Employee Stock Purchase Plan (ESPP).

• Fringe benefits often go unnoticed or unused. Pay special attention to opportunities for gym memberships, education assistance, and more.

• Regularly reassess your benefits during open enrollment to ensure they match your family’s changing needs, especially if you’re comparing offers from different employers.

Key Timestamps:

(00:00) – Open Enrollment and Employee Benefits

(01:13) – Understanding Health Insurance Options

(03:36) – Life Insurance: What You Need to Know

(05:15) – The Importance of Disability Insurance

(07:38) – Dependent Care FSA: A Valuable Benefit

(09:14) – Maximizing Your 401k and ESPP

(10:51) – Other Important Employer Benefits

(11:39) – Conclusion and Final Thoughts

Key Topics Discussed:

BLUF Veteran Finance Podcast, Military Finance, Veteran Financial Planning, Military Money Management, VA Benefits, Military Retirement Planning, Financial Literacy for Soldiers, Military Budgeting Tips, Debt Management for Service Members, VA Loans, Military Investment Strategies, Saving for Deployment, Thrift Savings Plan (TSP), Transitioning to Civilian Life, Military Tax Benefits, Financial Independence for Veterans, Military Money Manual, The Military Money Show. ESPP, Employee Stock Purchase Plan, 401k match, fringe benefits, employee benefits, health insurance, disability insurance

More of Baskin Financial Planning:

Download the Ultimate Military Finance Checklist⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, with 7 pages of critical things to be thinking about to clarify your journey to financial freedom.

Think you might need some financial help? ⁠⁠⁠⁠⁠Book an intro call with me to see if we would be a mutual fit.

Questions or comments, drop me a note at: erik@baskinfp.com

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