Momby (Mambi) Arthur-Price

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23 appearances 1 recordings 1 series first heard Jun 2024 last heard Jun 2024

Momby (Mambi) Arthur-Price’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Adulting 101: Understanding Your First Professional Paycheck · 26 Jun 2024 podcast

So you'll be given a range of options from medical, dental, vision, life insurance, ancillary benefits.

And this is a great opportunity for you to, number one, understand what you have.

And then also, number two, to really start thinking about what's actually going to work for you.

Oftentimes I deal with folks that are age 26, so they've aged out of their parents' plan.

And so now this is their first time having to look at this.

And I would base it on what

sort of activity they had on their previous parent's plan, or if they've had no activity, I would say you might want to consider going with the lower to smaller option because you're likely not going to see a lot of activity your first year unless you already know you have some sort of pre-existing condition.

It really is based on what your particular risks are and your tolerance of having premiums coming out of your check.

What you're going to see oftentimes is either two or three different health care plans.

I like to call them either a high, medium or low.

You'll probably have a high deductible health plan and you'll probably have a traditional PPO, preferred provider organization type of plan.

And with that plan, what you'll want to consider is what are your health care needs?

What are your specific needs?

And if you do have medical needs that are maybe a little bit more stringent, you might want to consider a plan that is going to provide you a lot more additional options and be a little bit more expensive.

But those are the things that you're going to want to consider.

What are your personal health needs and how does that fit in?

Don't leave any money on the table.

Oftentimes, an employer will give you a company match, and that company match is crucial.

So let's say your company match is 50% on six.

You put in 6%, they're giving you 50% of that, which is 3%.

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