Summer Is Right Around The Corner, saving money for summer vacations?

Revisit your budgeting tools.

Summer is almost here, and your employees are likely starting to think about hitting the beach, road-tripping across the country or eating their weight in ice cream. Since having fun costs money, May is a good time to serve up some ideas on how to squirrel away a little extra cash in the next few months. 

Employers should share tips for saving money on benefits-related expenses, like encouraging high-deductible health plan employees to use sites like GoodRx.com for cheaper prescription costs, or visiting urgent care instead of the emergency room for non-life-threatening issues. Also, consider making employees aware of apps like Acorns, Robinhood, Stash, Digits and Tally, which round up credit or bank card expenses to the next dollar, and automatically deposit the extra money into different types of savings accounts.

Double-check out-of-network coverage.

While you’re on the subject of summer fun, remind your employees to take a quick peek at their health plan’s out-of-network care policies before they head out of town. If they need a doctor (or ice cream headache cure) while they’re away, they’ll know where to go, how to pay, and how to get reimbursed.
                                                     

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