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Job benefits

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Established Contributor

Job benefits

Hey guys, so I was wondering how many of you guys work a full time job but decline all benefits? I was thinking, that once I hit the 90 days I would be eligible for benefits but now I'm thinking it's not worth it, I saw reviews on indeed about it but from different states and they said that it's much more expensive. I already got vision from my other job so I don't really need it. But, they offer PTO, 401k, health, vision and dental. I was thinking about getting health due to HSA but I know I'm gonna be paying a lot for the premium.

I work a regular 9 to 5 job so I guess the benefits are average lol.
16 REPLIES 16
Community Leader
Senior Contributor

Re: Job benefits

We both work full time and I carry the insurance, ts a little high I suppose but we opted for the "middle" coverage . I think you need to have the health insurance, one major medical issue could totally devestate your finances.

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Message 2 of 17
Frequent Contributor

Re: Job benefits


@Jnbmom wrote:

 I think you need to have the health insurance, one major medical issue could totally devestate your finances.


Or your health.

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Message 3 of 17
Senior Contributor

Re: Job benefits

Benefits can change alot from year to year. I would explore them and make sure if don't sign up the first year you are out for forever. 40 years ago the first Mrs. backwoods and I always compared health coverage and took however had the best deal.  it always seemed to change.  

Several years ago  was working a supplemental part time job that I really did not like but the health insurance was better than any policy I had ever seen. Mrs. Backwoods had a very serious hospitalization and her bills ran over $1 million dollars. They paid very well  including getting her a specialist at the Mayo cinic. They even paid to have her medivaced to Mayo from our local hospital. 

Message 4 of 17
Moderator Emeritus

Re: Job benefits

As other posters noted ... "life happens" and health benefits is one piece of the life puzzle to NEVER be without!!! All the other benefits are nice but going to the poor farm is something you don't want to do.

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Message 5 of 17
Frequent Contributor

Re: Job benefits

I declined most benefits at my current job.  No 401k matching, super high medical premiums.  Just not worth it imo.  Hopefully I find something that will be better in the future.

 

This is the first job I have done that with, priors had a decent benefit package.




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Message 6 of 17
Community Leader
Mega Contributor

Re: Job benefits

I am not quite certain why you'd refuse benefits. So, you have vision, great. What happens when you need to see dentist? It's hard to walk out without $700 if any work is needed. 

Others have already addressed health insurance, so unless you have millions and a guarantee you'll never get ill, it's not a best course of action to go without it. 

 

As far as 401K, unless you have something else in the works or those pesky millions, I dont see why you'd refuse unless you plan on working till the last day of your life. 

 

Granted, you would keep more money, but just one life emergency, and all that money will be gone several times over. 

 

I would seriously reconsider your strategy here. I would not base my future on Indeed reviews. 

 

 

EX 759 EQ 774 TU 753


Message 7 of 17
Established Contributor

Re: Job benefits

To me, I understand the need of health insurance when I was younger but I've never really been to the hospital, not to be sexist or anything but why buy health insurance when you could get it for free from your wife? I'm not married yet but do want to get married in the future, I don't want to push out money just because.

I'm 26, never have I had to go to the ER or anything major, except having a sinus that could take a week or so to recover but I did had to pay $1500 for not having insurance and I will take everything into consideration.

I look at it like if I were to have children, yeah I would agree that both people should have health insurance, the kids are not immune until their like in their 20's or so, and at a young age they could get sick and even have it worst. I feel like when you're 45 or 50+ you should have it cause everything from there health wise is declining.

As far as dentist, I have a yearly check up for free and stuff and I take care of my teeths, I have really good products for it. I just recently got glasses for $50, so I saved a lot of money by having it. I will look at the coverage and let you guys know. I'm not too familiar with it. And I would never want a 401k, I do have life insurance tho.
Message 8 of 17
Frequent Contributor

Re: Job benefits


@Remedios wrote:

I am not quite certain why you'd refuse benefits.


Imo, ALL for profit insurance is just legalized extortion.  We have the technology today to cut out those middle-men skimming the public while not giving any value add in return.  Society could pool money to pay providers directly and save massive amounts of money doing so.




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Message 9 of 17
Frequent Contributor

Re: Job benefits


@TheBoondocks wrote:
I'm 26, never have I had to go to the ER or anything major, except having a sinus that could take a week or so to recover but I did had to pay $1500 for not having insurance and I will take everything into consideration.


I'm more than 3 decades older than you, never had any serious health issue, the only night I ever spent in the hospital was when I was 5 and had my tonsils out. Over the years I'm sure my employers and I have spent far more on my insurance than I have gotten back in care. That said I'm glad I've had it over the years and have it still because all it takes is one accident to run up 10s or 100s of thousands of dollars of medical bills. People of all ages are diagnosed with cancer and go quickly from your situation to owing money that could not pay back in a lifetime. Plenty of other diseases hit young and old alike.

 

Certainly it's your decision to make, but don't assume because you are young and currently healthy that that will never change.

Current Score: Mar 2019: EX FICO8 779, TU FICO8 800, EQ FICO 780, TU Vantage 773, EQ Vantage 786
AoOA: closed: 35 years, open: 24 years; AAoA: 11.8 years; Inquiries: 2019: 2, 2018: 3; No BK ever, 1 30 day late in 2013
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Message 10 of 17
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