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If you are starting a new job, you probably feel overwhelmed with all the information coming at you. But you need to be smart about your paycheck and benefits. Make it a priority to learn your benefits and spend your money wisely. Use this guide to get started.
Your Paycheck
Your employer may have direct deposit. Be sure and sign up for this service because it will save you time in the long run. Having your paycheck deposited for you allows you to have access to your money quicker than paper checks and saves you time and hassle of going to the bank and standing in lines on pay day. Once your pay is deposited, use these checks from Checks Unlimited to pay your bills. Since it often takes a few payroll periods to start, you should complete this paperwork right away.
Your Healthcare Benefits
Benefits do not have to be complicated. Spend some time reviewing your employer’s communications.
Think about you and your family’s healthcare needs and your budget. If there are options, be sure to read up on how to pick the best benefits. Many employers have a payroll contribution amount so be sure and choose wisely because these choices are locked for a year unless you have a life changing event. If your employer offers a healthcare savings account or a flexible spending account, you will want to contribute to it. These accounts offer a tax advantage in that the contributions are made prior to taxes being taken out of your pay check. You can use these funds to pay for certain healthcare items such as eyeglasses and dental appliances.
Wellness Program
Many employers offer a wellness program. It may require that you complete a health risk assessment within a certain time frame in order to receive an incentive. Or perhaps your company offers discounted gym memberships. Be sure and ask about any deadlines and incentives so that you are getting the full benefit of these programs.
Even though it is a lot of information to digest, if you focus on these three, you will be off to a great start. Be sure and check your company’s Human Resources intranet portal and ask questions. Congratulations on the new job!
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I remember feeling completely overwhelmed trying to unravel the healthcare benefits at my first job. It’s a lot of jargon and can be confusing if it’s new to you. It’s so important to choose wisely though so it’s best to take your time and ask if you need.
I agree. Thanks for taking time to comment on my post.