Grow: “New deductibles, fewer vacation days: 4 unexpected costs to be mindful of when starting a new job”
Grow, Aug. 11, 2021 — In today’s article in CNBC’s Grow, Gili Malinsky reports: “Millions of Americans are starting new jobs. Hires reached 6.7 million in June, an increase of 697,000 from the previous month, according to the Department of Labor. Many of those switching roles have done so in search of better pay and benefits. But there can be unexpected costs to starting a new job, too.”
For insight, Gili turned to Marguerita Cheng, CFP® Pro, who explained: “There is nothing wrong with wanting to change jobs. But you want to be mindful of gaps in benefits, including 401(k) contributions and paid leave. Many health insurance policies offered through work require a deductible, which is a set amount of money you have to pay for health services before your insurance plan starts to pay.”