Tying the Knot
What Not to Forget About Health Benefits and Financial Planning
Related Content
- Association of Health Insurance Advisors:
- Association of Health Insurance Advisors
- U.S. Census Bureau, Health Insurance Data:
- U.S. Census Bureau, Health Insurance Data
- Council for Affordable Health Insurance:
- Council for Affordable Health Insurance
- U.S. Department of Labor, Health Plans & Benefits:
- U.S. Department of Labor, Health Plans & Benefits
...to get smart about your benefits options. If you and your spouse or partner both have health benefits, learn about them so you can compare them accurately. If you don't have existing health benefits, learn how to join your spouse's plan.
...to figure out what is most important to you as a couple. Discuss monthly premiums, deductibles, co-payments and access to specialists.
...to anticipate changes in your plan from year to year, so consider each plan carefully and call your employer's benefits office if you have questions.
...to act quickly! Spousal or partner enrollment may only be available for a limited amount of time after you get married, or during the health plan's Open Enrollment period.
...in general, health benefits are less expensive for married couples than they are for two singles. Even if you both are employed, it often makes sense to combine your health plans.
What Not to Forget About Financial Planning
Don't forget...
...to lay your financial cards on the table! Among young couples, this often involves the subject of debt, particularly college loans and credit cards. Get a copy of your credit reports, see if they are accurate and share them with one another.
...to discuss your views on money and investing. Are you a spender, a saver or a hoarder? Does the stock market scare you or excite you? Do you enjoy handling the day-to-day finances like paying bills and balancing the checkbook?
...to think about your financial goals and dreams. Retirement may be a long way off, but one of you may have plans to retire sooner than the other. Think about raising children and paying for their education, child allowances and childcare.
...to consider talking with a financial planner. Not only can the planner help you discuss financial issues in a comfortable setting, but also the planner can offer advice on such issues as the combining of finances where debt or lopsided wealth is involved.
