Job Search Tips? Don’t Make it About the Benefits By Stephen Van Vreede At Isnare.com Ezine Articles

With the cost of healthcare increasing each year, I hear more and more job seekers placing medical benefits among the top—if not the number 1—considerations of their job search. There is so much fear in the US today, much fueled by media and politicians, when it comes to healthcare and employer-provided benefits.

An Historical Perspective of Employer-Provided Healthcare

When FDR elected not to socialize healthcare along with many other functions during the Great Depression, he instead incorporated a corporate tax benefit to employers providing healthcare plans to their associates during World War II. As a result, companies found a way to attract and retain high-quality candidates while reducing their tax exposure. This model grew strongly through the 1990’s. After the turn of the century, healthcare costs began to spike dramatically, leading employers to subsidize a smaller and smaller percentage of the cost.

Employer-Provided Healthcare Plans Today

So today, most Americans have some form of employer-provided health benefits. However, unless you are a member of a strong union, you likely do not have dental care or vision care included. Your co-pay amount has risen considerably and the amount you pay for prescriptions has increased too. All the talk of increased costs combined with the reality of a larger chunk of change from your wallet everytime you go to the doctor—or, more appropriately, even when you don’t make use of your insurance—has made medical coverage a big deal today.

Other Alternatives

Behold! Do not fear! There are viable alternatives to employer-provided healthcare on the market today. For example, you can obtain a high-deductible plan with a health savings account (which allow you to set money aside each year—without taking it away at the end of the year like a flexible spending health account—that is tax deductible and whose interest earned is tax free) for considerably less than a plan that is comparable to what employers offer. In fact, in many cases, these plans will save you money every year. And the worst-case scenarios may only require an additional 10-20% outlay than would have been required by an employer-provided plan. And remember, often times, employer-provided plans do not cover you fully. This simply means that you may be responsible for 10% of the costs related to a major medical issue, with no ceiling. High-deductible plans have a maximum per person and per family that can be paid in a single calendar year. So these plans can actually work out much cheaper in the worst-case scenarios as well!

Prioritizing My Job Search

So what does this mean for the job seeker? Do not prioritize an issue like medical benefits simply out of fear. Do some research and get the facts. You need to focus on your strengths and desires when it comes to your new job. Yes, it’s great that the coffee chain down the street offers excellent medical benefits for anyone working more than 20 hours per week. But is that really what you want to do. So what if a prospective employer doesn’t have great options or doesn’t even offer coverage at all. You can contact an insurance company to acquire medical coverage of your own. The great part is that you can choose a plan that works for you and your family. Don’t be afraid! Go for it!

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