Maximize Your New York Life Benefits This Enrollment Season
Quick Facts You Should Know
401(k) Match
NYL offers up to a potential 4% total match.
Health Savings Account (HSA)
Triple-tax savings if you’re in a high-deductible health plan.
Dependent Care FSA
Save taxes on childcare or eldercare—up to $5,000/year.
Long-Term Disability Coverage
50% of covered earnings after 6 months; optional buy-up to 60%
Group Life Insurance
Basic coverage is free—extras available through payroll.
Key Considerations and Mistakes to Avoid
Missing the full 401(k) match:
A common way to lose easy money.
Assuming LTD covers everything:
It likely doesn’t—especially for high earners.
Confusing HSAs with FSAs:
One rolls over, one doesn’t.
Forgetting the 6-month gap for disability coverage:
Disability benefits aren’t instant—plan for that.
Choosing benefits in isolation:
Your benefits should support your bigger goals.
A Case Study
Ariel, a 38-year-old New York Life corporate employee, earns a $200,000 base salary with a 25% annual bonus. She’s married with two young children and carries most of the household financial responsibilities, including daycare costs, mortgage payments, and retirement savings.
On paper, Ariel was making responsible decisions—contributing to her 401(k), using the health plan, and relying on her Core Long-Term Disability coverage. But during a benefits review, we uncovered several blind spots that were easy to miss:
After our benefits review:
● We identified that Ariel’s LTD coverage would provide only $7,100/month after taxes, leaving her with a $35,000+ annual income shortfall if she were unable to work—despite earning over $250,000.
● We helped her enroll in the Dependent Care FSA, unlocking $1,400/year in tax savings on her $24,000/year childcare costs.
● While she was receiving the full 401(k) match, we calculated that her long-term retirement goal required a 12% total savings rate and helped her align contributions accordingly.
● We introduced her to the HSA opportunity through her high-deductible health plan and showed her how to invest unused dollars for long-term, tax-free healthcare savings.
By coordinating her benefits with her financial plan, Jane protected her family and reclaimed thousands in tax savings and potential lost income.
Learn More
This material is provided by Aether Financial Group for educational purposes only. We are not affiliated with, endorsed by, or acting on behalf of New York Life Insurance Company or any of its benefits providers. While we make every effort to ensure the accuracy of information based on available resources, benefits details should always be confirmed directly with New York Life’s Human Resources department and the official plan providers. Nothing herein should be construed as legal, tax, or benefits administration advice.