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Question About Benefits...?

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Question About Benefits...?

Postby kye » Mon Oct 02, 2017 12:27 am

Ok. The job I work at pays well but has no benefits at all. Everyone says I must get a job with benefits, my question is what's the difference in having benefits at work and buying good Insurance? I mean must jobs deduct it from your pay anyway. I mean you wouldn't have retirement but what's the big deal? Thanks.
kye
 
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Question About Benefits...?

Postby Farrant » Wed Oct 04, 2017 7:24 am

You just have to compare.
There is no blanket answer.
If you get two offers for jobs that are otherwise the same (with the same pay) and one gives you health insurance, then that's the one you'd likely choose.
But, if they charge $500/month for health insurance and you're a healthy 26 year old, then you certainly wouldn't be signing up on their plan anyway.

People that automatically get coverage through their employer without bothering to check to see what it would cost on their own just aren't going to get very far in life.


Add up the value of everything when you're looking at a job...having benefits or not having benefits isn't the deal breaker unless everything else is equal AND it's a good offer.
Farrant
 
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Question About Benefits...?

Postby Cosimo » Sat Oct 07, 2017 8:20 am

Most employers don't do pension plans anyway.


If you're young and healthy, you can probably buy health insurance for less than your share of a group plan.
As long as you're getting paid enough to cover it, it's a great plan.
Cosimo
 
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Question About Benefits...?

Postby teregud » Sun Oct 08, 2017 8:44 pm

The differences are:

1) Tax implications

2) Insurance you buy may not cover pregnancy ever, and definitely won't cover it during the first year.
Insurance through work will often cover pregnancy, sometimes even during the first year.

3) If you get insurance through work, then you pay the same price as everyone else at your company who got the same coverage, but a different amount that employees at other companies.
In most states, if you buy it yourself, you might pay more or less than others pay.
In a few states, you pay the same as everyone else, even if they work for different companies.
teregud
 
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