Any words of cau­tion?

Daily Local News (West Chester, PA) - - BUSINESS -

Don’t fo­cus solely on an ex­tra ben­e­fit’s price. Ac­ci­dent cov­er­age that only costs a few dol­lars each pay pe­riod may not be worth it if it doesn’t pro­vide a lot of money when you need it.

Think about your needs. Ac­ci­dent cov­er­age, which would help with an emer­gency room bill, may be ap­pro­pri­ate for a fam­ily with young chil­dren. Crit­i­cal ill­ness cov­er­age may be bet­ter for a mid­dle-age em­ployee sav­ing for re­tire­ment and wor­ried about be­ing ru­ined fi­nan­cially by med­i­cal bills.

Con­sider, too, what you give up in or­der to buy an ex­tra ben­e­fit. Buy­ing pet in­sur­ance and ac­ci­dent cov­er­age could mean in­vest­ing less in a re­tire­ment plan.

Don’t feel pres­sured into sign­ing up for all the ex­tra ben­e­fits dur­ing your com­pany’s open en­roll­ment win­dow. Those not tied to health care could be avail­able at other times of the year.

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