US Company Benefits

Commuter Benefits

Commuting expanse is pre-tax money -> taxable money ↓

Transit Plan

BART subway, PATH, ferrym bus, rail, light rail

Parking Plan

monthly parking rental, street parkiung, etc

401K

• Employee contribution + Employer contribution (employer match)
• -> check employer max 401K match percent
• IRS set maximum 401K contribution: $57000 (2020)
  • Traditional 401K + Roth 401K + After tax contribution

Traditional 401K

pre-tax contribution, contributions and earnings are taxed at withdraw

Roth 401K

after-tax contribution, no tax at withdraw

After tax contribution

• contribution made with after-tax income (income after taxed), earnings are taxed when withdraw
• max contribution = $57000 - (employee 401k contribution + employer contribution)

Medical Insurance

Concepts

Premium :: 保费

Deductible :: 使用保险前先自己支付的费用

co-pay :: 每次看医生需要自己付的看诊费

一般按次数算，不计入 deductible

Suggestions

• 第一年选deductible高的保险，多做检查（体检、小毛病）

HSA/FSA

• Get a debit card from Medical Insurance
  • 配眼镜、酒精、invisalign、近视矫正等 IN PHARMACY
  • FSA eligible item
  • FSA Store (online website)
• Money in these accounts can be used to pay medical expanses
• Money put into accounts are pre-tax contribution -> taxable money ↓

HSA: Health Savings Accounts

• can be used to invest, earnings are tax free
• no time expiration
• employer can contribute to HSA as well

FSA: Flexible Spending Accounts

• expire within one year, use it or lose it
• can not be used to invest

Social Security

deduct from paycheck, get some money back when retire