New Parents / DOLLARS AND SENSE
55
Money Matters for New Parents You’re going to have a baby. What do you do about work?
by Veronica Daehn
manager, who handled issues related to human resources (HR). A technician with Sunnyside Cat Hospital* in Omaha, Neb., Palmera had several questions: What about health insurance? What about maternity leave? What about a dependent reimbursement account for child care? Palmera did not tell her coworkers about the pregnancy, but she let HR know about it early to find out what her options were. She also wanted to give her practice manager an early heads-up so that arrangements could be made for her absence, whether that amounted to a few weeks or months. Her practice manager walked Palmera
W
through several scenarios and was able to answer her questions, including how much leave would be paid and how much would be unpaid leave with job protection, as part of the federal Family Medical Leave Act. If you are expecting a child and have questions about your options, your first step is to figure out who has the informa- tion you need. In other words, find your HR person. Large practices may have a separate HR department; in smaller practices, the owner, business manager, supervisor or receptionist may fill that role. Start your HR journey by determining
Trends magazine, September 2011
hen Angie Palmera was ready to tell her employer she was pregnant, the first thing she did was seek out her practice
Dealing with the financial implications attached to having a baby can be overwhelming.
who is in charge of benefits, maternity leave policies and other issues related to maternity and new parenthood. Then, let the questions flow.
Questions abound
Dealing with the financial implica- tions attached to having a baby can be overwhelming. Some important ques- tions to ask include: How and when do I get the baby added to my health insurance?
Do I need to change my tax withholdings on my W-2 form?
What about starting a flexible savings account (FSA) for medical or dependent care expenses?
Should I start a college fund? How much maternity leave do I get, and how much money will I lose while I am off work?
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84