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Questions tagged [benefits]

Questions regarding employment benefits such as Health Spending Accounts, Retirement plans and other financial concerns in compensation packages.

71
votes
9answers
10k views

Ballpark salary equivalent today of “healthcare benefits” in the US?

For my friends in the US, when considering positions (this applies to either salary or contract positions) I've heard it's sometimes along the lines of, you can have X with healthcare, or Y with no ...
27
votes
5answers
2k views

Are credit card rewards taxable?

There have been several questions about reward point/loyalty programs offered by credit cards Best Travel Point Credit Cards Best Reward Benefit Credit Cards Easy Comparison of Reward Benefit Cards ...
25
votes
2answers
5k views

Parents want to claim me

I just turned 19 so I'm a legal adult. I moved out of mothers due to neglect and abuse, but still remain somewhat friendly with her. However, she texted wanting to know if she could claim me on her ...
24
votes
7answers
39k views

Can my employer limit my maximum 401k contribution amount (below the IRS limit)?

I contribute about 13% of my income to my company's 401k, which, at my salary, is well below the IRS limit of $17K/year (in 2012). However, with my raise this year, my benefits department told me that ...
17
votes
6answers
14k views

Why do some companies offer 401k retirement plans?

Why do companies offer 401k (or other) retirement plans? Let me elaborate this... I understand that it could be part of an employee's benefits and that a retirement plan option might increase the ...
12
votes
2answers
2k views

Sign up for credit card only for rewards and benefits, then cut it up - pros? cons?

First off, I know red flags go up when credit cards are mentioned, so as a disclaimer, I am responsible with credit, prompt with payments, and I have a good solid credit score (says credit.com today). ...
10
votes
5answers
597 views

Does my company's 401k plan provider matter to me?

My company is about to change the 401k provider it uses from one major provider to another. Does this matter to me, provided my company doesn't change any of it's benefits policies?
10
votes
4answers
392 views

How to value employee benefits?

How should I value benefits such as health insurance and employee stock purchase plans when I'm comparing jobs? I'd like a conversion to dollars so I can fairly compare them to jobs with only direct ...
9
votes
2answers
3k views

When does it make financial sense to take advantage of employer's tuition reimbursement program?

Many companies offer tuition reimbursement programs. On the surface, these programs are such that qualified employees can enroll in undergraduate / advanced degree programs (or even take individual ...
9
votes
2answers
639 views

Can an employer change 401(k) rules to exclude part-time employees who previously participated?

I currently participate in a 401(k) at my work. I am classified as a part time employee with accruals but no benefits currently. For next year, my classification is the same, but now work is not ...
9
votes
2answers
720 views

Are travel point / reward credit cards worth the hassle and cost?

Are travel point / reward credit cards worth the hassle and cost? Many such cards have fees, and when you try to book there are often restrictions. What has your experience been with these types of ...
9
votes
2answers
713 views

Are there any benefits of FMLA beyond preserving your job?

I'm not positive this is the right forum for this, but it regards personal finance and company benefits, so it seems to fit, if not, please recommend another SO site that's more appropriate. I'm ...
9
votes
3answers
2k views

Should I wait a few days to sell ESPP Stock?

I have read three other threads about employee stock purchase plans (I get to buy company stock at a 15% discount) and come to the conclusion that I should sell most of my shares immediately after ...
9
votes
3answers
857 views

Calculating cost effectiveness of a medical plan

I am evaluating new medical plans, and I'd like to figure out a formula that will give me some idea of the potential benefits of one vs another vs another.. etc.. I have these variables: Cost Per ...
9
votes
1answer
204 views

Should my wife stay un-benefited during pregnancy?

We just found out my wife is pregnant. She's in the process of switching her employment status to what they call per diem, meaning she's not technically a full time employee, although she can (and ...
6
votes
2answers
227 views

Self maintain my 401(k) if company offers no benefits?

I am switching jobs. My previous job offered a 401(k) plan and I contributed through payroll. My new company literally offers "no benefits at all" meaning no 401(k), healthcare, etc. How can I still ...
6
votes
3answers
5k views

Can I add girlfriend to my benefits provided by employer?

I work in a big tech company in the Bay Area, California. It is time to enroll in benefits and I am trying to understand if I can add my girlfriend to my insurance. I have been living together with ...
6
votes
1answer
2k views

How does the Spousal Surcharge generally work?

We are on my wife's health insurance policy. I have access to the insurance policy from my employer; however, for the past few years wife's policy was much better. This year wife's policy introduced a ...
6
votes
2answers
347 views

When negotiating a compensation package with a prospective new employer, how can I determine what element is worth more?

i.e. is there a way to "normalize" value and future-value of compensation components such as: annual bonus, commission, pension contribution, health benefits, vacation days, company car, etc. so that ...
5
votes
1answer
496 views

Claiming commuter benefits when company didn't offer it

I spent $150/month this year on qualifying commuter expenses (monthly train pass), but I wasn't aware of the commuter tax benefit that was available via the employer. In fact no one at our company ...
5
votes
1answer
124 views

How is 'death in service' benefit funded? Does the employer benefit?

In the UK many employers offer a 'Death in Service' benefit of (for example) 4x annual salary (e.g. £80,000 if the person was earning £20,000) payable if the employee were to die whilst employed by ...
4
votes
5answers
394 views

Why is company provided health insurance tax free, but individual health insurance is not?

Why is company provided health insurance tax free, but individual health insurance is not? I do not understand the rationale for making health care contributions by companies non-taxable, but if an ...
4
votes
2answers
297 views

What options exists if your wife's employer doesn't cover any type of maternity leave?

Recently I discovered that not all employers will cover maternity leave. Many will allow an expectant female to leave for a period of time, but it will be under a leave without pay license. Aside ...
4
votes
1answer
621 views

Is this 401k statement odd or is it normal?

I'm trying to help someone compare benefits for two different companies. However, we have both interpreted the 401k match statement in the benefits summary differently for one of the companies. 35%...
4
votes
2answers
4k views

Canada Universal Child Care Benefit (UCCB): $100/month per child under age 6 from the government. Is it true?

Somebody told me that if I have a child under age 6, then I'm entitled to get a $100/month benefit from the Canadian government. Is that true? How do I apply for it?
4
votes
2answers
144 views

401(k) Investment stategies

I am a new grad and I just started working for a company. They offered me a 401(k) with a very good matching. So I decided to invest some of my income as I am single. I was taken by surprise by how I ...
4
votes
1answer
2k views

Is it necessary for an employer to claim employee rental housing as a paid benefit?

A friend of mine pays to rent housing from her employer. This housing is owned and managed by the employer and rented only to employees. They agreed upon a rent of $X per month when she moved in and ...
4
votes
4answers
2k views

What's the best way to handle FSA transactions in light of a pregnancy?

If a worker makes contributions to a dependent-care Flexible Spending Account, and that worker expects she will be on maternity leave for a portion of the year, much of which will be "unpaid", what is ...
4
votes
2answers
27k views

Benefits available to single-mom with low income, in Canada?

I have been in Canada for 6 months. My husband and I have recently separated. I have a 4-year old son living with me. I am currently working but the income is very low. I earn about $800/month. Which ...
4
votes
2answers
233 views

How do I estimate the value of employer-provided job benefits, for comparing compensation?

I'm trying to put a number on the benefits (health insurance, dental insurance, 401k match, etc). that my job provides. I'm looking at a career move and would like a total compensation number for ...
4
votes
1answer
149 views

Belated unemployment benefits: Is it possible to apply after a year out of work?

I was laid off last year in May but never bothered to apply for unemployment benefits then because I have a Green Card (permanent resident) and presumed the benefits are only applicable for US ...
4
votes
1answer
128 views

Spouse termination documents affecting insurance

A little background: my wife recently changed jobs and is now working part time with a new employer. I want to add her to the health plan I have with my employer, but was told I need confirmation that ...
4
votes
2answers
300 views

Single employee - paying for health insurance premiums with pre-tax money

I am about to join a new US company and will be the only employee for a while. I am not a shareholder or anything similar. The employer cannot offer a group health plan as they normally require at ...
3
votes
1answer
561 views

Can an employer refuse to remove a spouse who recently acquired their own health insurance coverage?

My spouse recently took a new position with benefits. Where I have been providing benefits through my employer I contacted them and ask to remove my spouse. At first, they said not a qualifying ...
3
votes
1answer
10k views

Is working on a W2 basis, with benefits paid to me, a good idea?

My prospective employer (a consultancy service) gave me 3 options: signing on as 1099, W2 w/ benefits or W2 all inclusive. The "all inclusive" option means that my benefits are paid in my paycheck ...
3
votes
2answers
319 views

What tax percentage will I pay on this benefit in kind?

I live and work in the UK I'm confused at the amount of the tax I will have to pay on this benefit in kind. Say I earn £50k, and have a benefit in kind for travel which is £2000 (for a yearly season ...
3
votes
2answers
910 views

Are employer gym reimbursement benefits taxable?

My employer reimburses me for up to $50/month for a gym membership. When I put in an expense report, they give me a $50 check. There is no tax withheld. Do I need to report this as taxable income?
3
votes
1answer
110 views

How should I include pension contributions in my UK Child Benefit calculations?

I'm using the gov.uk Child Benefit Tax Calculator and I don't know how I include my pension contributions in the "Pension contributions deducted from your pay" and "Pension contributions not paid from ...
3
votes
2answers
95 views

What happens if my primary and one of my contigent beneficiaries pass away? How are percentages disbursed?

When updating my benefits, how should I assign beneficiary percentages? The way I have it setup currently is: Spouse: 100% / Primary Child-1: 34% / Contingent Child-2: 33% / Contingent Child-3: ...
3
votes
1answer
315 views

How much can I make (or how many hours can I work) while receiving social security benefits?

I currently am on medication and was recently approved for SSI benefits including cash assistance and food stamps. The money comes in monthly with no problem but I can't afford housing with just this ...
3
votes
2answers
3k views

What are the laws or rules on 401(k) loans and switching providers?

So here's the situation. My employer is switching 401(k) providers. I believe they outsource payroll and employee benefits to Benefits Company A. They want to switch to Benefits Company B. I ...
3
votes
1answer
437 views

Applying for Unemployment Benefits with some complications

I'm currently a student at Cornell University, where I pay for a monthly rent of about 780 dollars per month. I need a little more money to keep up my payments, but a job is simply not an option with ...
3
votes
1answer
230 views

How long after a US serviceman is killed would the family receive the 100K death benefit?

Under ordinary circumstances how soon after a serviceman's confirmed death would the family actually have the 100K to use for expenses? (My understanding that this 100K is in addition to life ...
3
votes
1answer
117 views

Statute of limitations on disability pay for a once pregnant mother?

My wife took unpaid maternity leave from her job several months ago when she gave birth to our son. At the time we didn't apply for disability. She has now been back to work for several months. Can we ...
3
votes
1answer
151 views

Does Medicaid pay for prescription drugs?

If you don't make much money, there are prescription advocacy programs like this one that one can take part in. However, if you don't make a ton of money, it seems to me that you're likely to be on ...
3
votes
1answer
68 views

Married now, do our domestic partner benefits get taxed differently as spousal benefits?

Reading up on new tax rules it seems clear to me that my "domestic partner" benefits should now be treated as "married couple" benefits since we were married in a state that recognizes same-sex ...
2
votes
3answers
357 views

When should both spouses get benefits from their jobs?

My wife and I get medical, dental, and vision benefits through her job. Generally we've been pretty satisfied with them. Now for the first time, my job is offering health, dental, and vision as well. ...
2
votes
1answer
3k views

What is the difference between Child Benefit and Child Tax Credit?

In the UK, how does Child Tax Credit differ from Child Benefit? It appears to me that those who receive Child Tax Credit are fewer than those who receive Child Benefit, as there are more criteria ...
2
votes
2answers
3k views

What are the benefits of post-tax transit payroll deductions?

I enrolled in pre-tax transit deductions because I understand that I save on taxes (by doing this). What I don't understand is how post-tax savings works for transit and parking. For something like ...
2
votes
2answers
104 views

Health Care Benefits Gift?

A friend of mine has opened a company that allows a person to use their health care benefits for things like Orthotics and Compression Stockings but they also give you a free "gift" (something like a ...