These Surprising Workplace Perks Can Save You a Lot of Money in 2019
Retirement funds, health insurance and yearly bonuses aren’t the only benefits of working a nine-to-five job. If you need a little bit of extra help in the form of legal services, educational assistance or an insurance policy for your pet, you’ll most likely be able to get it from your employer.
Think about all the money you could be saving next year by taking advantage of these perks offered at your workplace!
If you’re planning to enroll in the next season of company benefits, make sure to watch out for any new services that your employer is offering from financial planning to college assistance and a lot more. Benefits like insurance policies and 401(k) plans have been around in the industry for years, but this article is dedicated to additional perks that you probably didn’t know that your employer offered.
Most companies are dedicated to the financial wellbeing of their employees which is why they offer a wealth of benefits that go beyond the monthly paycheck, but before signing up for any company-provided benefit, do your research and compare the offer with other alternatives on the market to see if you’re really getting any saving benefit from committing to the plan. Here are some of the best benefits that you should apply for this season to make some major savings in 2019.
Thinking of going back to college to upgrade your career trajectory? Consider asking your boss for help. According to a recent poll by the National Business Group on Health, almost 95 per cent of the big companies in the United States offered tuition assistance to their employees which can save them up to $5,250 in tax-deferred wages for expenses such as college tuition, study supplies and other education-related equipment.
However, your employer may have certain conditions for allowing you to enroll in the educational assistance program such as maintaining your GPA over a certain level or a clause that requires you to stay with the company for a defined time period after you finish your education.
We hope you never find yourself talking to a lawyer regarding any legal troubles, but even if you do, your employee might have you covered for all the legal fees. A research from the Society for Human Resource Management revealed that almost 30 per cent of the big companies offer legal assistance as part of their benefit package.
Employees can access a network of lawyers for only $20 per month which is deducted from their payroll. If you’re working in a professional environment, you may need an attorney for a number of legal complexities ranging from document review to civil litigation which can often cost thousands of dollars.
Whether you’re planning to go to college yourself or thinking of enrolling your child, it may help to sign up for a 529 plan which can help you save up for educational expenses. Luckily, most workplaces offer employees the opportunity to enroll in an automatic 529 plan which deducts contributions from their payroll.
Companies like ScholarShare has been partnering up with companies for the past many years to offer the college saving benefits to their employees. However, it helps to do some research on such plans and compare various policies to decide which one is right for your family’s needs.
When it comes to the wellbeing of your furry four-legged friend, your company has got you covered. According to the National Business Group on Health’s poll, almost 50 per cent of the biggest employers in the United States offer pet insurance to employees who need it. In 2018, American pet owners have spent over $18.3 billion on veterinary care, up by almost 7 per cent from last year. So a workplace benefit that lowers the cost of pet insurance can come in handy when you’re trying to save some cash in 2019.
Most companies offer one of the two pet insurance plans: the first is a traditional insurance policy that involves premiums (up to $1000 per year for a single pet) and deductibles whereas the second is a discount plan that costs between $80 to $200 per year and gives affordable medical care from selected vets.
However, these pet insurance policies can have their drawbacks. For one, they may not cover any preexisting conditions that your pet has, or could have other exclusions that can prevent older or sick animals from getting coverage. So, if you’re planning to enroll your new kitten in an insurance program, you’ll most likely be able to do it without any problems. However, the same can’t be said about a 10-year-old obese cat.
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