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Don't leave money on the table.

“If employees aren’t aware of everything their company offers, including voluntary benefits and discounts, they may be leaving money on the table,” says Erin Barfels, chief human resources officer at ARAG, a legal insurance plan provider. “When employees make informed benefits decisions, they strengthen their financial safety net.” She suggests employers encourage employees to ask the following four questions:


[Images: Shutterstock]
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1. Does my health care plan still make sense for my current situation?
Many employees choose health plan when they start with the company, but don’t reconsider if it still makes sense for the ways their lives have changed. For families, choosing the right health insurance plan requires a thorough review process. Encourage employees to keep track of their medical expenses throughout the year so they can review to ensure they are using the plan that works best for them. Also communicate they need to take into account any life changes -- like having a child or new health issues -- since they last enrolled in benefits.
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2. Am I using the 401(k) match, if offered?
When it comes to investing for retirement, it’s hard to find a better option to employees’ savings than an employer match. Make sure employees have ready access to information about your company’s 401(k) match.
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3. Do I have access to voluntary benefits?
Voluntary benefits, such as dental and vision insurance or life insurance, can help supplement traditional health insurance. But other voluntary benefits, such as legal plans, can help with productivity. According to an ARAG study conducted by Russell Research, three out of four employees experienced a legal event in the past 12 months. Make sure employees have access to information about all of their benefits, including voluntary.
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4. Am I taking advantage of wellness discounts and reimbursements?
Most employers recognize the importance of exercise as part of a healthier lifestyle and provide reimbursements for health club memberships and the purchase of exercise equipment. Many companies also have discounts in place with organizations such as gyms and nutritionists. Publicize the wellness section of your company intranet on a regular basis to nudge employees into taking full advantage of these healthy offers.