Douglas W. Tees, MBA, CFP®

Freddie Mac Benefits Review and Comparison

Jason Howell |
Categories
Health Insurance
Benefits
Open Enrollment

The most challenging item for employees is often deciding which medical insurance to select.  Do you take the plan with higher premiums and a lower deductible? The high deductible plan (HDHP) with a health savings account (HSA)?  The HMO with constrained physician options, but comprehensive and coordinated services? 

In this review we provide recommendations for which benefits to select and the tradeoffs between employer offered benefits vs benefits that can be purchased by the client directly.  That said, the most challenging item for employees is often deciding which medical insurance to select. 

To help make the financial impact of the decision clear, we have developed a comparison tool that allows us to determine the cost of each plan as medical expenses rise.  We take into account the pre-tax nature of premiums, the plan deductible, out of pocket maximum, cost sharing for medical services, and any contributions made by the employer.  The chart below illustrates the cost of Freddie Mac family medical plan to a client in the 37% tax bracket.

Having the cost clearly presented allows us to support our clients as they consider tradeoffs and determine contributions to Flexible Spending Accounts or a Health Savings Account. You can see here that as the total medical expenses go up (or left on the horizontal axis), the total costs to you as an employee goes up on the vertical axis. Our analysis begins with this creating this chart then having a conversation with you about your expected medical care needs. 
For all planning clients, we offer a review of employer benefits at each annual enrollment or whenever there is a change in employment.  In this review we provide recommendations for which benefits to select and the tradeoffs between employer offered benefits vs benefits that can be purchased by the client directly. 
When comparing firms that provide financial planning and investment management services the term “comprehensive financial planning” is often used.  Comprehensive can mean a different breadth and depth, so here we provided an example of one component of Jason Howell Company comprehensive planning – the employer benefit review. 
At the Jason Howell Company, we are well versed in the following organization’s benefit plans (just to name a few):
If you would like help comparing plan options for these or any other company’s benefits, please reach out to Doug Tees Doug@JasonHowell.com.  

 

Jason Howell Company (JHCo.) is an independent, family wealth management firm run by two owners who consider it their family business. Jason J. Howell, CFP®, CPWA®, CSRIC® and Douglas W. Tees, MBA, CFP® are both married to patient wives and are dedicated to their kids.

The firm owners believe that busy, dual income couples should feel good about the wealth their building for their families. "Feeling good" begins with turning family values, standards and rules around money into a family governance structure that creates harmony for everyone involved.  It continues with implementing a sustainable investment strategy (SRI, ESG) and a proactive strategy for philanthropy. The two owners strike the right balance between attention to detail and keeping these serious subjects "light."

Jason Howell Company: Feel Good About Your Money™

To feel good about your money, just book an introductory call here: Introductory Call