Sharon Alford

Houston, Texas

Ms. Alford is a Federal Retirement Counsultant for the year of 2024.

Sharon is a native Texan. She enlisted in the United States Navy immediately following high school and proudly served her country for five years as an Air Traffic Controller. While serving in the Navy, Sharon began her college education in Whidbey Island, Washington and continued her studies on nights and weekends while working and raising her children for the next 26 years. Her studies spanned over three different states and five different colleges but she finally received her bachelor’s degree from the University of Houston in 2010.

Sharon Alford has been serving Federal Employees in the Houston area with their insurance needs since 2014. Once joining The Benefit Coordinators, she has expanded her areas of service to include the entire United States. As an independent contractor of Aflac®, she has also been instrumental in bringing these benefits under The Benefit Coordinators “Supplemental Programs.” With her life and health insurance license, she has been able to serve her clients with finding the “right fit” for them in their insurance needs. Her integrity, “customer-first” mentality, and superior customer service (at the sale and beyond) has gained her hundreds of loyal clients.

Sharon chose to enlarge her portfolio to include retirement financial needs after her father retired without any benefits outside of social security. Her father was under hospice care until he sadly passed in December 2019 and she served as his Power-of-Attorney, handling all his financial and medical affairs. She understands, firsthand, how NOT preparing for your retirement years can affect, not only you, but your loved ones, as well. Her experience over the years of caring for her father has deeply ingrained in her a passion for assisting, educating, and implementing retirement plans for her clients. Ms. Alford is a Federal Retirement Consultant℠ and is authorized by the Federation of Federal Employee Benefit Advocates to provide consultation to all federal employees.

Ms. Alford is licensed to serve the needs of federal employees throughout the United States and is available for formal classroom education and training for benefits, as well, as more private individual consultations.

Aflac agents are independent agents and are not employees of Aflac. Aflac includes Aflac and/or Aflac New York.

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Employee Benefits: What You Need to Know Today!

Employee benefits play a critical role in ensuring employees’ financial security, health, and well-being. These benefits go beyond the paycheck and provide vital protections and savings for workers. Whether you’re a federal employee or work in the private sector, understanding your employee benefits and how they fit into your compensation package is essential.

In this blog, we’ll dive deep into the world of employee benefits, covering everything from the types of employee benefits to fringe benefits, and explaining how they contribute to employee satisfaction. You’ll also learn how employers design benefit packages and how to maximize your benefits.

What Are Employee Benefits?

Employee benefits are extra perks or compensations given by employers to their workers on top of their salaries. These benefits can include health insurance, retirement plans, paid leave, and much more. Having access to a good set of employee benefits makes a huge difference in both your day-to-day life and your long-term financial stability.

For federal employees, these benefits are even more significant, providing strong protections and helping you build a better future. But no matter what kind of job you have, understanding your benefits is key to making the most of your employment.

The Importance of Employee Benefits

You might ask yourself: Why are they important? The truth is, they’re a crucial part of your overall compensation package. While your salary covers your immediate needs, employee benefits offer protections and savings that will help you down the road. Whether it’s health care, paid leave, or a solid retirement savings plan, these benefits ensure that both you and your family are cared for.

For example, without health care benefits, medical bills could easily pile up, potentially leading to financial strain. With proper health plans, however, you’re protected from these unexpected costs. Similarly, having a well-designed retirement savings plan means that you’ll have enough money to live comfortably when you stop working.

Types of Employee Benefits You Should Know About

There are many types of benefits available, each serving a different purpose. From health coverage to fringe benefits, these perks help improve your overall quality of life. Some benefits are mandatory, while others are offered at the discretion of your employer.

1. Health Insurance

One of the most common and essential types of employee benefits is health insurance. Having access to health care coverage helps you and your family stay healthy by covering routine doctor visits, hospital stays, surgeries, and more. As a federal employee, you have access to the Federal Employees Health Benefits (FEHB) program, which offers a variety of health plans to suit your needs.

Many health plans also include additional benefits, such as dental benefits, vision benefits, and wellness programs designed to keep you healthy and fit.

2. Retirement Benefits

Planning for the future is a key part of every employee’s life. That’s where retirement benefits come in. For federal employees, the Federal Employees Retirement System (FERS) provides a comprehensive retirement plan that includes a pension and access to the Thrift Savings Plan (TSP).

The TSP is similar to a 401(k) and allows employees to save for retirement while receiving matching contributions from their employer. This ensures that employees have the funds they need when they stop working. It’s one of the most popular employee benefits in the federal sector.

3. Life Insurance and Disability Coverage

Life can be unpredictable, which is why having life and disability insurance is so important. The Federal Employees’ Group Life Insurance (FEGLI) program offers federal workers an affordable way to protect their families financially in case of a tragic event.

Similarly, disability insurance covers you in the event of an injury or illness that prevents you from working. These benefits provide peace of mind, knowing that your loved ones will be cared for if something unexpected happens.

4. Fringe Benefits and Other Perks

Beyond the more common employee benefits, many employers offer unique perks known as fringe benefits. These fringe benefits can range from commuter benefits to educational assistance and even student loan repayment.

While fringe benefits are often less talked about, they can be a valuable part of your employee benefits package. For example, federal student loan repayment programs can significantly reduce your financial burden, while commuter benefits help cover transportation costs.

The Different Types of Employee Benefits Categories

When looking at your employee benefits plans, it’s helpful to break them down into different types of benefits categories:

  • Health benefits: These cover medical, dental, and vision care, as well as wellness programs.
  • Retirement savings: Includes plans like the TSP or 401(k)s.
  • Paid time off: Vacation, sick leave, and holidays.
  • Life events: Coverage for events like death or disability.
  • Discretionary benefits: Perks like flexible work arrangements, commuter benefits, and employee assistance programs.
  • Fringe benefits: Extra perks like dependent care benefits and public service loan forgiveness programs.

These types of employee benefits vary by employer but are designed to improve your life and give you the resources you need to be successful at work and at home.

How Employee Benefits Boost Employee Satisfaction

Providing comprehensive employee benefits is a smart investment for employers because it leads to higher employee satisfaction and retention. When employees feel valued and supported through strong benefits packages, they’re more likely to stay with the company and perform well.

It’s no secret that offering benefits like flexible hours, health fit programs, and retirement savings plans shows that the company cares about its workers. This increases employee satisfaction and fosters a positive work environment.

In fact, many companies invest in employee benefits solutions that cater to different aspects of employee well-being. These include:

  • Flexible spending accounts for healthcare and dependent care.
  • Employee assistance programs that provide mental health services.
  • Commuter benefits to help with transportation costs.
  • Wellness programs to promote fitness and health.

The Role of Employers in Offering Benefits

Employers play a crucial role in offering and designing employee benefits. Many employers go beyond the standard health and retirement benefits by providing additional perks like fringe benefits and extended leave policies.

Some employers also offer unique benefits, such as tuition assistance or discretionary benefits, like gym memberships or wellness programs. Offering such perks not only improves the benefits package but also increases employee satisfaction.

Types of Employee and Their Benefits Needs

Different types of employees may need different benefits packages. For instance:

  • Full-time employees typically receive the most comprehensive benefits packages, including health care, retirement savings, and paid leave.
  • Part-time employees may not receive the same level of benefits, but some companies still offer essential coverage like health insurance or retirement plans.
  • Contract employees usually don’t receive the same benefits as permanent staff but may have access to perks like fringe benefits or flexible hours.

Knowing what category you fall into can help you better understand which types of benefits you’re entitled to.

Maximizing Your Benefits

Making the most of your benefits requires careful planning. Here are a few tips to help you maximize the value of your benefits:

  • Review your options: Always take the time to review your employee benefits packages and choose the plans that best meet your needs.
  • Use preventive care: Many health plans cover preventive care services like vaccines, check-ups, and screenings.
  • Maximize retirement savings: Contribute as much as possible to your retirement savings plan to benefit from employer matching contributions.
  • Stay informed: Keep up with any changes to your benefits to ensure you’re always getting the best deal.

Conclusion: Why it Matter

Understanding and making the most of your benefits is essential to long-term financial health and well-being. Whether you’re focused on health care, retirement savings, or the perks that come with fringe benefits, having a solid employee benefits package can make a big difference.

For federal employees, programs like the FEHB, TSP, and FERS offer some of the best benefits in the world, providing comprehensive coverage and ensuring that you have a bright future ahead. By understanding the purpose of employee benefits and how they work, you can take control of your financial future and maximize your overall compensation.

Don’t wait — start exploring your benefits today and take full advantage of everything your employer has to offer.