Do you get benefits through your employer? If so, how well do you utilize them? Employers offer benefits as a way to attract good employees. It’s part of your compensation package, so you should be taking advantage of them. That’s easier to do with some workplace benefits than others which may be more prone to underutilization.
Life Insurance
Some employers choose to offer a life insurance benefit to their employees. Consider the financial cost of opting in on a basic life insurance policy and if it’s a cost you can afford to incur.
If you can, take advantage of that benefit. While carrying a life insurance policy provides you with little more than peace of mind, it can make a significant difference for your loved ones if you pass away, especially if you’re the primary breadwinner.
Flexible Spending Accounts
Flexible spending accounts (FSAs) are employer-sponsored healthcare benefits. They are tax-advantaged financial accounts that you can use to set aside money for healthcare. Given how expensive healthcare is and unexpectedly you may end up needing it, having an account you can pull money from to cover those bills can be a huge relief.
You can use money in your FSA to cover any medical, vision or dental treatment. Keep in mind that FSA funds are a use-it-or-lose-it sort of thing. Anything you don’t spend goes back to your employer, so take advantage of the money in the account to get the preventative and curative care you need.
PTO
Ever feel guilty for taking paid time off? Don’t. If your workplace offers PTO and you qualify for it, there’s no reason why you shouldn’t take that time off. Again, it’s part of your benefits package, and depending on how PTO is structured at your workplace, you’ve literally earned it. Besides, taking time off from work is good for you. It allows you to return and continue to work effectively instead of burning out. You may find you’re more productive, motivated, and positive and are less stressed when you use your PTO. Schedule your time off so you can prioritize your mental and physical health. That may help you reduce the instances where you have to take unscheduled time off in the future.
If you aren’t very familiar with your workplace benefits, take some time to learn about them. Just as importantly, learn how to utilize them as much and as effectively as you can. You work hard to do a good job for your employer. It’s only fair for you to enjoy all the benefits your compensation package has to offer.
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