Benefits Election Package Arrived

Today, my company delivered the 2008 benefits selection package. Frankly, we were lucky and the costs did not change for most of the benefits.

Health Plan - The cheapest plan was replaced by an HSA. If we select the plan, the company will contribute up to $600 toward the deductible. The other options are a HMO and a PPO style plan. Complicating my situation is my marraige in August. After we are married, I am definitely switching to my fiance' plan. Although I am still running numbers, I am planning to select the HSA and contribute $1,000 towards savings. Hopefully, I can stay away from the doctor for 10 months.

Life Insurance: Together with my own cash balance plan, I have approximately 4x my salary in life insurance. Given my new responsibilities, I will probably increase my election slightly.