Thursday, December 13, 2007

Choosing Benefits for 2008

It is that time of the year again. The last call for changing our 2008 Q1 benefit is coming soon.
We are not planning to change anything much. We are keeping the HMOs, the dentals, the 401ks (of course!), and basic life insurances.

One thing that shocked us was the increase for HMO plan: from $35 to $50 months! My company is offering HRA which costs only $15/month. It is tempting, but despite attending the seminar twice, I still do not understand it. May be I am too dense, but I am not going with HRA despite its cheaper cost until I understand it completely. Isn't there an advice not to invest in something you don't understand? Isn't the health plan a form of investment on our health?

Starting 2008, my company is offering Roth 401k. I'm switching from traditional 401k to Roth 401k. Unfortunately, my wife's company isn't offering one yet.

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