Retirement Savings Options
A workplace retirement plan, such as a 401(k), 403(b) or 457 plan, is one of the easiest ways to save for retirement. Contributions come directly from your paycheck, helping you save consistently over time. Many plans also offer employer matching contributions, which can help your retirement savings grow even faster.
The best choice depends on when you’d prefer to pay taxes and what makes sense for your financial goals. Roth contributions are taxed now, while Traditional contributions are generally taxed in retirement. Understanding the difference can help you build a retirement savings strategy that aligns with your needs today and in the future.
An Individual Retirement Account (IRA) is a retirement savings account that can help you save beyond your workplace retirement plan. An IRA may offer potential tax advantages and can be used to grow your retirement savings, consolidate old retirement accounts or keep saving when you change jobs.
Health Account Solutions
A Health Savings Account (HSA) helps you save and pay for qualified healthcare expenses while offering valuable tax advantages. You can contribute pre-tax dollars, use the funds for eligible medical, dental, and vision expenses, and carry unused balances forward from year to year. Depending on your plan, you may also be able to invest a portion of your HSA balance for future healthcare costs.
A Flexible Spending Account (FSA) allows you to set aside pre-tax money for eligible healthcare, dental, vision and dependent care expenses. By using pre-tax dollars, an FSA can help lower your taxable income and reduce out-of-pocket costs. Common options include a Health FSA, Limited Purpose FSA and Dependent Care FSA.
Supplemental Benefits
Critical Illness insurance provides a lump-sum cash benefit if you’re diagnosed with a covered serious illness, such as a heart attack, stroke or certain cancers. The benefit can be used however you choose, helping cover medical bills, household expenses, lost income or other financial needs during recovery.
Accident insurance provides cash benefits for covered injuries and accident-related expenses. It can help pay for unexpected costs such as deductibles, copays, transportation and other out-of-pocket medical expenses. This added financial protection can help reduce the impact of an unexpected accident.
Hospital Indemnity insurance helps pay for covered hospital stays and related services by providing a cash benefit when eligible events occur. The benefit can be used however you need it, whether for medical bills, everyday expenses or other financial obligations. It can help provide added financial confidence during a hospital stay.
More Resources
From quick reads to live sessions. Explore our resources to help you build confidence in your financial future.
Accident, Critical Illness and Hospital Confinement Indemnity Insurance are limited benefit policies. This is not health insurance and does not satisfy the requirement of minimum essential coverage under the Affordable Care Act.
Insurance products are issued by ReliaStar Life Insurance Company (Minneapolis, MN) and ReliaStar Life Insurance Company of New York (Woodbury, NY). Within the State of New York, only ReliaStar Life Insurance Company of New York is admitted, and its products issued. Both are members of the Voya® family of companies. Voya Employee Benefits is a division of both companies. Product availability and specific provisions may vary by state.
Products and services offered through the Voya® family of companies.