By now you’ve probably noticed your direct deposit got a bit smaller at the beginning of the year. Revisions to the tax code and a health insurance premium increase moved our take-home pay the wrong direction.
“Two years ago, Congress gave us a temporary Social Security tax break,” says Scott Murdock, Redmond’s payroll administrator. “That 2% break expired at the end of 2012, so your paychecks are 2% smaller.”
At the same time, Redmond’s Select Health insurance premium jumped by 9% – smaller than last year’s increase, but enough to make you look twice at your pay stubs. The Select Health increase affected the amount Redmond contributes to our HSAs, as well.
It’s never fun to have our net pay drop, even by a few percentage points, and Redmond provides several programs designed to help decrease our personal health care costs and increase our ability to budget and live well. Many associates save by shopping at Real Foods Market, where your Redmond discount provides nutrient-rich foods at cost—a benefit to your bank account and your health care costs.
Redmond also frequently sponsors associates in a variety of races, from 5Ks to marathons and cycling events, that we can participate in. Training for these activities.
And of course, when health care costs get you down, you might consider signing up for Redmond’s next Dave Ramsey Financial Peace workshop. This program teaches you and your spouse to budget, save, and live within your means. Living debt-free can bring you stability and peace of mind, and that goes a long ways to ease the pain when paychecks take small turns for the worse!