North Carolina Newspapers

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Employees Con Put
More Money In Their
Pockets By Maximizi
ing Company Benefits
Employees have more flexibility
than ever before to structure a bene
fits package that meets their finan
cial and personal needs. To ensure
that you arc maximizing your com
pany benefits, the N.C. Association
of Certified Public Accountants sug
gests that you review your benefits
program annually. Here are items to
be considered:
Health Insurance
Obtaining the right health insur
ance at a price you can afford is crit
ical to your financial well-being.
Many companies offer both tradi
tional indemnity plans and man
aged-care programs, such as those
provided by health maintenance or
ganizations (HMOs).
Under a traditional indemnity
plan, you must meet an annual de
ductible and then are reimbursed for
a large percentage (typically 80 per
cent) of your costs. TTiese plans are
expensive and can cost a family of
four several thousands of dollars in
premiums every year, even when an
employer is contributing to the cost.
An advantage of these plans is that
you select your doctor or hospital.
However, such plans usually do not
cover well-care visits.
If you're looking to cut costs,
look into managed-care programs.
In exchange for limiting your physi
cians and hospitals to those speci
fied by the health maintenance
provider, you'll pay a flat fee?usu
ally $5 to $10?for doctor visits, in
ciuaing wellcare visits. Premium
amounts are usually lower than
those for traditional indemnity plans
and there are no deductibles.
Health Care Accounts
Some companies offer flexible
spending accounts which allow you
to set aside pre-tax wages to pay for
medical expenses. Whether you an
ticipate medical bills of $500 or
55,000, you'll cut your medical ex
penses by paying for them with un
taxed dollars. The higher your tax
bracket, the more money you can
If you need to, you can usually
change the amount you deposit each
pay period into your medical spend
ing account. However, if you don't
use all the money in a flexible spend
ing account prior to the end of the
year, you'll forfeit the unused funds.
Dependent Care Accounts
More employers are also provid
ing the opportunity to set aside pre
tax wages for dependent care ex
penses for a child or a disabled par
ent or spouse. Similar to medical
spending accounts, you must esti
mate your dependent care expenses
in advance and determine before the
plan year begins how much of the
following year's salary will be set
aside to cover such expenses.
Life Insurance
Many companies provide a basic
amount of life insurance and give
Weekly Crossword
1. Nought 1. Bluish-white metal
3. Peculiar 2. Precious stone
5. Steadfast 3. Yellow Pigment
7. Random 4. Twelve
9. Calm 5. Mold
10. Mud 6. Pit
11. Stratagem 7. Fire devastation
14. Loop 8. Tact
15. Splendor 11. Ferment
17. Country residence 12. Bay
18. Courageous 13. Instruct
19. Heavenly body 14. Arrest
20. Strain 16. Child
23. Money 21. Additional
25. Blackleg 22. Jewel stone carved
in relief
27. Statement under oath 23. Voucher
28. Row 24. Listen
29. Long past 25. Unexpected
30. Present 26. Contest
(Answers are on Page 12-A)
We're now
Open 7 Days A Week O
Serving fresh seafood specials nightly, plus
tender, Juicy steaks and chicken.
Meet our new
.... , Buy one entree
managers, Mike and at regular price and get
Bethanna, and bring this second entree of equal or
. ,, , , i m lesser value
half price coupon!
Valid April 27-May 3.
coupon required.
1 / lesser vaiue
h. Price
Waterfront Restaurant
Shag under
the Stars
on our deck
Saturday, 8:30
with DJ Open nightly 5-9 pm. 842-3381
Marty Callahan Enjoy your favorite beer and wine.
On the waterway at Holden Beach _
MMi 'MMtfi mmm!
you the option of buying additional
insurance at the group rate.
Frequently, an employer provides
insurance up to two or three times
your annual salary.
This may be enough for single
people. However, if you have a
spouse and children who count on
your income, you may want to pur
chase additional insurance. CPAs
suggest that as a rule of thumb, if
you support a family, you should
buy coverage equal to about five
times your annual income.
Disability Insurance
Disability insurance replaces a
portion of your salary if an illness
prevents you from working.
Typically, employers provide wage
continuation coverage that provides
full or partial income for a set period,
usually no more than a few months.
Since this type of disability income is
dependent on your length of service
with your company, if you recently
joined your company, you may need
to purchase a short-term disability
policy. In either case, you also need
long-term disability insurance, partic
ularly if your family relies on your
earnings for day-to-day expenses.
Some employers allow employees
to choose among several disability
insurance policies as part of a cafe
teria plan. One variable in these
policies is the elimination period?
how long you wait before benefits
kick in. Elimination periods can
vary from 30 to 90 days or more.
(Sftfclb of
invites you to
come celebrate...
May 2-8
Come browse...
Wide selection of
herbs, growing tips,
also available...
flowering perennials
(old garden favorites)
Follow Hwy. 179, we are
located on Hughes Trail just
off Hale Swamp Rd.
Generally, the cheaper plans have
longer elimination periods. Select
the lower-cost plan only if you have
sufficient cash reserves to see you
through an emergency until your in
surance policy will pay. You'll also
want to be sure that you're covered
for about 60 percent of your pre-dis
ability income, although some high
income earners may be limited to a
lower percentage.
401(k) Plans
Employer-sponsored 401(k) plans
offer you one of the best ways to
save for your retirement. That's be
cause you can save pre-tax dollars
and your savings grow tax-deferred
until you withdraw the funds at re
tirement. If your employer also
makes a contribution on your behalf,
your savings will grow even faster.
Take the time to monitor how
your 401 (k) investments are per
forming. If you're not satisfied with
their returns, or if you have had
changes in your life that warrant a
different investment strategy, you
usually have the option of reallocat
ing your 401(k) savings.
CPAs point out that effectively
structuring your employee benefits
can help you to maximize your earn
ings and ensure your family's finan
cial security.
Money Management is a weekly
column on personal finance pre
pared and distributed by the North
Carolina Association of Certified
Public Accountants.
Drive two or more
ars in your family?
Drive straight to
If you're a two-car family,
Nationwide can save you
money on your auto insurance.
Additional premium discounts
are available to those who
qualify. Call us today
Phillip W. Cheers
4700 Main St.,
Nationwide is on your skJ?
Na!?onwide Mutual Insurance Company and AftiUated Compares
Home Office One Naforowde Pla^a CoiumCus OH 43216
Naionwoe ? s a registered federal service
mart of Nationwide Mutual insurance Company
? Broadway Lights ?
? Glamour Photos *
Sitting Fee
and Hairstyle
9 am-until
Call Kristi, Sandra or Pam
for ail appointment
4830-A Main Street at Vision Square, Shallote
Soles took more than $12,000 from
PACS and special interest groups for
his 1992 campaign. So who is he really
working for?
Elect Ron Taylor, Democrat - NC Senate
Paid For By Ron Taylor For NC Senate
Alice T's
May 7 and 8
Alice T's Lounge
Hwy. 130 Holden Beach Road ? Shallotte
to the
Board of Education
Democratic Candidate from District One
A Concerned Citizen Who Serves (without pay)
?quality education across this county
?weapon and drug-free schools
?teachers and other staff members
?parents and concerned citizens
I have 16 months of school board experience. I'm
retired and available for service anytime up to 18
hours per day.
Thanks for your vote on May 3
Paid for by the candidate
When Brunswick County The contributors in the
decided to enlarge the West "Angel," "Patron" and
Brunswick Branch of the "Sponsor" levels will be listed
Public Library this spring, the in a framed acknowledge
library was to be closed for a ment in the renovated library
period of five to six months and will include the following:
during construction because ANGEL-Town of Shallotte,
no funds had been allocated South Brunswick Islands
for a temporary location. The Chamber of Commerce,
Friends of the Library felt it Atlantic Telephone
was necessary for the library Membership Corp., Security
to remain open to serve the Savings and Loan, Town of
children and adults in our part Sunset Beach, Town of
of the county. They estimated Calabash, Wal-Mart,
that a budget of $10,000 NationsBank, Town of Ocean
would be needed to rent a Isle Beach, Sea Trail
temporary location, make it Plantation Garden Club,
ready and staff it during the Sunset Beach Taxpayer
renovation period. Association, the Rotary Club
The fund raising efforts of South Brunswick Islands,
began with a bake sale at PATRON-Food Lion, Inc.,
Food Lion and a dance at the Victoria's Ragpatch, Inc.,
Armory. This was followed by Brierwood Ladies Club,
a VCR raffle and T-shirt sale South Brunswick Islands
sponsored by Wal-Mart and a Woman's Club.
three day period when Food SPONSOR-Robert J.
Lion donated a percent of its Watt, Ocean Isle Property
receipts to the cause. Owners Association,, Harris
The main thrust for funds & Harris Associates, Carson
was from a letter campaign Manufacturing Corp. Shal
requesting towns, civic lotte Presbyterian Church,
groups, businesses, and pro- Greater Holden Beach
fessionals to be an -"Angel" Merchants Association, MAC
for a $500 donation, a Construction, Walters Realty,
Patron" for $250 or a Brunswick Electric Member
Sponsor" for $100. Another ship Corp., The Brunswick
letter was hand-delivered to Hospital, First Citizens
most residents by volunteers Banks, Carolina Shores
asking for any size donation. Garden Club, Albert Lee
whatever they could afford. Thomas, Betty & Straud
The results were incredible; Maerker, Davina & Stephen
$15,951 was collected from Candela, Frances & Jean
228 donors. Pelletier, Susan & Timothy
The library is now in its Gibble, and Carole & Joe
new quarters at Resort Plaza Matusaitis.
in Shallotte and is open The Friends of the Library
Mondays from 11 AM to 8 greatly appreciate and wish
PM, and Tuesdays, to acknowledge not only
Wednesdays and Thursdays those listed above, but also
from 9 AM to 6 PM. It is all those who gave both time
staffed by your temporary and/or money to their library
librarian, Emma Myles, and to help keep it open.
assisted by 59 volunteers CONGRATULATIONS ON
(another show of local sup- YOUR SUCCESS!

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