In parts 1 and 2 of our FI Benefits 2020 Special, we helped you get in the FI mindset when it comes to benefits, especially health insurance options, and then we gave you some strategies to help you figure out how to think about selecting your benefits. In this installment, we give you practical advice for choosing benefits.
We know that you love doing the math, and these posts will give you a good idea of the most crunchable numbers related to your annual choices for health insurance and other benefits. Let’s get started!
First up, Shawn gives essential advice learned from a career spent in benefits to his daughter as she chooses her own for the first time. Tons of goodness in this post that will calibrate your mind toward making great choices and making them for the right reasons.
Advice for my Daughter on Selecting First Employee Benefits
Next up, I provide you with insights on how to select a plan that meets your FIRE goals. There’s a healthy debate in particular about whether you should get an HSA-eligible high-deductible health plan (HDHP), and I tackle that topic head-on.
What Health Plan Is Right for Me and My FIRE Goals?
But wait, there’s more! If you would like to go even deeper, I provide a thorough breakdown of what you look at when evaluating your health plan choices — all of those words you’ve seen before, like deductible and coinsurance, but may not have understood how they impact you. Once you get through with this two-part series, you’ll be ready to go forth and conquer open enrollment!
Picking a Health Plan, Part 1: How to Weigh Premium and Deductible When Picking Your Health Insurance Coverage
Picking a Health Plan, Part 2: Understanding Coverage-Level Details Like Copay, Coinsurance, Prescription Drug Tiers and More