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Tom Meaglia, ChFC®, AEP®,

CLU®, CRPC®, MSFS

Chartered Financial Consultant

Investment Advisor Representative

Chartered Retirement Planning Counselor

CA Insurance Lic. #0567507

 

Meaglia Financial Consulting

2105 Foothill Blvd., #B140, La Verne, CA 91750

 

Toll Free: 800-386-3700

Bus:         909-593-6105

Cell:         818-681-8600

Fax:         909-593-6120

 

Email: tom@meagliafinancialconsulting.com

Website: www.meagliafinancialconsulting.com

September/October 2022

Choose Your Benefits Carefully

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Annual open enrollment gives you an opportunity to review the benefits offered by your employer, including health insurance, vision and dental plans, and life insurance, and make selections that reflect your current situation. Open enrollment typically is the only time during the year when you can change your benefits without experiencing a qualifying event, including loss of health coverage or changes in your household due to marriage, divorce, births, or deaths.


Benefits Review
It’s important to carefully review your new benefit offerings. Don’t automatically sign up for the same plans or options you had in the past. Changes in premiums, copays, and deductibles may make a different plan more affordable. If you’re married, compare your benefits with the benefits offered by your spouse’s employer and choose the better plan.


Dependent Care FSA
A dependent care flexible savings account (FSA) lets you set aside pretax money to pay for qualifying dependent care expenses, including daycare, nursery/ preschool, babysitters/nannies, day camps, and adult daycare. In 2022, the maximum amount individuals and married couples filing jointly can contribute is $5,000, while a married filing single taxpayer can contribute $2,500.


Life Insurance
Your employer may offer group life insurance as one of your benefits. But if your loved ones depend on your income, a group policy generally won’t provide the coverage you need to support them in the event of your death. And your coverage typically ends when your employment ends. Purchasing an individual policy can help provide for your loved ones if something happens to you.


Disability Insurance
Disability insurance replaces a portion of your income if you become sick or injured and can’t work. Short-term disability typically covers you for a few months to one year and generally replaces 50%-60% of your earnings. Your employer may offer short-term disability coverage at no cost to you.


Your employer may offer an option to purchase long-term disability insurance, which provides benefits from a few years up to retirement age. The cost depends on several factors, including the type of coverage you choose, the waiting period before benefits start, and the percentage of income you want the policy to replace. Coverage typically ends when you quit your job.


*2023 contribution limits had not been announced prior publication.


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Thomas Meaglia is an Investment Adviser Representative of Coppell Advisory Solutions LLC, dba, Fusion Capital Management, a registered investment adviser that only conducts business in jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability. The firm is not engaged in the practice of law or accounting.
Insurance and annuity products are not sold through Fusion Capital Management. Fusion does not endorse any annuity or insurance product, nor does it guarantee any insurance or annuity performance. Annuity and life insurance guarantees are subject to the claims-paying ability of the issuing insurance company. If you withdraw money from or surrender your contract within a certain time after investing, the insurance company may assess a surrender charge. Withdrawals may be subject to tax penalties and income taxes. Persons selling annuities and other insurance products receive compensation for these transactions. These commissions are separate and distinct from Fusion's investment advisory fees.
Meaglia Financial Consulting and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

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