3 Ways to Gain Value Through Workplace Benefits: Are You Leaving Money Behind?
Hey there! If you’ve checked out my profile on Psychology Today and Google, you’ll see that I mention how Registered Social Worker services are often covered by many insurance plans. But let’s be real—are you using your extended health benefits from your employer?
My Personal Wake-Up Call
Early in my career at a Toronto hospital, I totally ignored my work benefits. Then, a close friend and colleague gave me a wake-up call: “Melice, you’re paying for these benefits—use them or lose them!” She’s the most financially savvy person I know, so I took her advice seriously. After reviewing my extended health benefits, I started taking full advantage of them. This decision was life changing. Now, I make sure to use every cent for me and my family, ensuring we get the support we need.
As of June 15, we’re halfway through the year, with just 182 days left in 2024. If you’re like most people paying into workplace health benefits, your therapy visits for the rest of the year could be fully covered by your employer. It’s a win-win!
Here are three tips to help you make the most of your employee benefits:
1) Know What You’re Paying For
First things first, take some time to really understand your benefits package. Dig out that booklet from your insurance provider or log in to your benefits portal online. What exactly are you covered for? How much is covered? Are there any services or practitioners that you didn’t realize you had access to?
For instance, you might find out that you have coverage for massage therapy, chiropractic care, or even nutritional counseling. Knowing what’s available can help you plan better and make the most of your benefits. It’s your money—make sure you know how to use it!
2) Individual vs. Family
Most employers offer both individual and family benefits. Learn what each member of your family is entitled to receive and up to what age. It’s important to maximize these benefits for everyone.
If you have a family plan, each member might have their own allocation for certain services. For example, your children might have access to mental health services or dental check-ups. Make sure you’re aware of what’s available for each person in your family. This way, you can ensure everyone gets the care they need, and you’re not leaving any benefits unused.
3) Don’t Leave Money on the Table
Employee benefits often expire at the end of the calendar year. Missing out because time ran out is like leaving money behind. Spread out your appointments to ensure you’re covered all year long. Regularly book your appointments to make the most of your benefits.
When I worked in Children’s Mental Health, I was swamped with appointment requests from April to June. Families wanted to squeeze in before summer vacation, which made it tough to accommodate everyone. I always encouraged regular appointments to avoid the bottleneck of the busy season.
Now, working with professionals who experience imposter syndrome in their careers, my busiest time is September to December. Many professionals seek support to start fresh in the New Year, aiming to overcome self-doubt and make positive changes in their professional lives.
Practical Steps to Maximize Your Employee Health Benefits
To really get the most out of your benefits, try these practical steps:
✅Schedule Regular Check-Ins
Put a reminder in your calendar to review your benefits every few months. This way, you can keep track of what you’ve used and what’s still available. It’s also a good time to book any appointments that you might have been putting off.
✅Keep Detailed Records
Keep a file (digital or physical) of all your receipts and claims. This will help you stay organized and make it easier when it’s time to submit claims. It’s also useful to have everything in one place in case you need to reference it later.
✅Communicate with Your Provider
Don’t hesitate to call your insurance provider if you have any questions. They can clarify what’s covered and explain any terms you might not understand. Knowing exactly what you’re entitled to can help you make informed decisions.
✅Plan Ahead for Busy Seasons
As I mentioned, certain times of the year can get really busy for health services. Try to book appointments well in advance, especially if you know you’ll need them during peak times. This can help ensure you get the care you need without the stress of last-minute scheduling.
Making Calculated Decisions
I’m here to add value to all my clients. I encourage smart, focused decisions and help avoid pitfalls while anticipating your needs. This includes making the most of your employer’s extended health benefits.
📍Have You Checked Your Benefits Lately?
📍Are you making the most of your employee health benefits?
📍Did you know Registered Social Worker services are often covered by insurance?
📍Have you checked your work benefits lately?
Contact your provider to find out what’s covered and start getting your money’s worth.
I’m curious—have you left money on the table? Let me know!
