Understanding the best company benefits to choose from will help you choose the right benefits and avoid mistakes.
401 (k) Plans
A lot of employers offer employees a 401 (k) plan. This plan provides an advantaged way to save for your retirement. A lot of experts agree that it is best to contribute what you can afford instead of trying to catch up when you are accustomed to more responsibilities and a bigger budget. You will be glad in the future that you did the right thing.
Health insurance
When it comes to medical insurance, you may choose between a preferred provider option and a health maintenance organization. A health maintenance organization allows you to go to physicians that are contracted with a chosen insurance company. If you have a specific physician that you would like to use then you have to ask to see the list of physicians on the plan or visit an HMO website and find a list of providers. Health maintenance organizations can be less costly but you have to be flexible about the doctor you see and your preferred hospitals.
On the other hand, some people find a preferred provider option as one of the best company benefits for employees. A preferred provider option isn’t as strictly organized as a health maintenance organization. The doctors will have relationships with insurance companies but it is possible to see a physician that may not be on the preferred provider option list and still benefit from partially covered services.
Life and disability insurance
This is one of the best company benefits out there. Life insurance that is provided by the employer is meant to compensate your survivors for your income and lost wages should you die while still employed in your job. If you are single with no one to support, you might not require life insurance.
