subject: Make Your Boss Pay Your Fringe Benefit [print this page] First, the bad news: For most workers, fat salary hikes won"t happen this year. The economy"s still too weak. Now, the good news: You can get other financial goodies from your employer, if you know how. Most people are unaware that corporations are riddled with seams of gold. Here"s a guide to finding the buried treasure. The specifics will be different for each company, but this should get you close enough to mine some dollars. 1. Flex-spend money. Flexible-spending accounts are another oft-forgotten source of money. FSAs allow you to put aside part of your salary before taxes for spending on eligible medical expenses. You basically get a government subsidy for your medical spending because you are buying with pretax dollars. So for many people their medical bills effectively cost 30% less. "One of the fears of is the use-it-or-lose-it rule," says Lenny Sanicola, practice leader at Scottsdale, Ariz.-based WorldatWork, an organization of employee-benefits experts. That means if you set aside $3,000 but don"t spend it all by year-end, you forfeit the unspent cash. But that never need happen. You should have a good idea of what medical expenses you"ll have, be it new eyeglasses or medicines you regularly use. So carefully make a forecast and only put that dollar amount in the FSA. 2. Tuition help. Education subsidies are a fabulous source of funds for something you can take with you when you leave the company. Over half of all companies provide some form of educational assistance for undergraduate or graduate studies, according to a 2011 survey by the Society for Human Resource Management. There tend to be certain restrictions. Typically, studies must be at accredited institutions, may need to be work-related and you often only get reimbursed if you earn a minimum grade, according to Mr. Sanicola. The first $5,250 of reimbursement funds per year isn"t taxable. And don"t forget: Your Company may also award scholarship money for your kids to go to college. 3. Company life insurance. If you are buying life insurance through a broker, you should also consider what your employer offers. Big companies don"t buy insurance through a broker (they frequently self-insure). This means they can offer coverage at the very lowest rates available. The disadvantage: Oftentimes, such insurance isn"t portable. That doesn"t matter if you go to another company, but it could if you are unemployed. 4. "Wellness" programs. Many employers want their workers to be fit and so they subsidize gym memberships. Reimbursement is generally taxable. Anyway, you"ll likely have lower medical expenses because if you use the gym you"ll be fitter. 5. Exit strategies. If you are unlucky enough to lose your job, then it"s still not over in terms of making your employer pay. Don"t walk out of the office with a box of belongings have them mail it to you at their expense. (I know enough people who"ve done this to know it works.) Hongxing Machinery has always lead in the mining machinery manufacturing industry, the machines such as ore beneficiation machines and jaw crusher are well received by the customers. Also make sure you are paid for the vacation time you have earned but have not yet used. Then figure out if you have any money left in your medical flexible-spending account. If you do, then run don"t walk to the optician and get yourself a pair of cool prescription shades. At least you can look cool while you look for a new position and someone else picked up the tab.
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