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Category: Financial Planning
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Benefits of Secondary Health Insurance | PA Benefit Advisors
Secondary health insurance is a type of policy that is used to cover medical expenses that have not been covered by your primary insurance plan. Typically, a person will have secondary medical insurance by being covered as a dependent under another family member’s plan. Secondary health insurance is usually optional and can provide several benefits…
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IRS Announces 2018 Retirement Plan Contribution Limits | PA Benefit Advisors
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On October 19, 2017, the Internal Revenue Service (IRS) released Notice 2017-64 announcing cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items. The following is a summary of the limits for tax year 2018. For 401(k), 403(b), and most 457 plans and the federal government’s Thrift Savings Plans: The elective deferral (contribution)…
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The Effects of Not Having Health Insurance on Personal Finances | PA Benefit Advisors
Insurance has become the method by which most Americans have their health-care costs paid. By paying a regular monthly bill for health insurance, the cost of expected health care events is spread out into even payments and the cost of major unexpected medical incidents is absorbed by insurance. Lack of health insurance can have a…
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Financial Wellness Benefits – Adapting Them In The New Workforce | PA Benefit Advisors
Over the past few years, we’ve seen tremendous growth in Financial Wellness Programs. Actually, as indicated in a recent report by Aon Hewitt, 77% of mid- to large-size companies will provide at least one financial wellness service in 2017; with 52% of employers providing services in more than 3 financial categories. So what are the…
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Do You Need Life Insurance When You Retire? | PA Benefit Advisors
Once you hit 65 and retire, you don’t need life insurance, right? Not so fast! The traditional thinking about life insurance is that you only need it when you have an income to protect, when you have a mortgage or when you have kids to support. And while it’s true that having life insurance after 65…
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Ask the Experts: Dealing With FSA Carryover Funds | Pennsylvania Employee Benefits
Question: If an employee has a small health flexible spending account (FSA) balance with a carryover to the next year, and the employee chooses not to participate in the new FSA year, can the employer force the employee to use those funds so as not to incur additional administrative fees in the next plan year? Answer:…
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3 Life Insurance Myths That Could Hurt Young Families| PA Employee Benefits
When you’re just starting out, it often seems that a dollar never stretches far enough. And with new commitments, such as buying your first home or having children, comes the responsibility to make sure your loved ones will be provided for financially, no matter what life may bring. If you were to die unexpectedly, life…
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Engaged? 7 Financial To-Dos to Check Off Your List | PA Financial Advisors
You’ve picked out the rings, maybe even the venue … things are rolling toward your Big Day. But don’t forget an important element of your new life together: getting your financial lives in sync. Talking about finances with your fiancé or partner may not seem like the most romantic topic, but what better way is…
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4 Financial Tips to Keep Your Family Safe | Pennsylvania Employee Benefits
It’s tough to get our financial house in order, not because it’s especially hard, but because it’s … boring? Tedious? The last thing we want to spend time on? To remedy that, here are four tips that you can take on and accomplish: 1. Make sure you have life insurance—or enough of it. Do you…
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Financial Goals For Every Decade Of Your Life | PA Financial Advisors
For most people, becoming an adult means hitting major milestones like finishing college, getting married, having children and buying a home. While everyone isn’t on the same path, setting financial targets can help you achieve your personal goals — whatever they may be. Here are 12 tips for making sure they become a reality: Financial…
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