*

Log In
Create Account

Article:

How to Evaluate an Offer

Benefits are part of the compensation package

Compensation isn't just the cash, it's also the benefits. The most important benefits are health and dental insurance. You should find out the name of the provider and the types of coverage you will receive. You should also be aware how much your insurance will cost each week, and how much your employer will cover. Companies offer different kinds of coverage, and if your company makes you pay more for health coverage, you have an incentive to negotiate.

Medical plans sometimes take more than a week to process, so find out whether your new medical plan will take effect on the day you start working. Your health insurance plan at your current job expires on the day you leave, but under federal COBRA laws you have the right to continue to purchase health insurance under your old plan for 18 or 36 months, depending on the plan.

If your new plan will not take effect right away and you elect to purchase your old plan, you may want to ask your new employer to pay part or all of the plan's costs until the new one kicks in.

Tip:
Remember, you want an offer that matches your current employment status. A good starting point is to use the list of benefits from your current job as a checklist for your new job. Use Salary.com’s Benefits Wizard to calculate what your employer spends on your total compensation package and view industry averages and enter your benefits information for a custom report.

 

  • Salary.com

    is always looking for talented writers. Think you have what it takes? Drop us an email at salarytalk [at] salary.com. Read more...