2007-06-08 08:56:04 · 7 answers · asked by puzlgrl21 2 in Business & Finance ➔ Insurance
It is totally separate...
2007-06-08 08:58:30 · answer #1 · answered by rowdysunsetart 5 · 0⤊ 0⤋
A 401K is a retirement account that gains or looses based on the market. Many times your employer will match you for X% that you put in. Depending on your employer, your 401K will come straight out of your check-you get to pick what % of your check you want to allocate towards your 401K. The $ is taken out pretax so if you don't take anything from your 401K until you retire, most of the time you can avoid paying taxes. Your insurance is a total seperate thing. Insurance allows you to pay lower rates for many dental/health procedures. The only thing that they have in common is that they are deductions from your payroll.
2007-06-08 21:26:34 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It should be separate. A 401K is for your retirement. It lets you put money from your paycheck into a retirement account. Your employer may match some of all of your contributions, depending on how you set it up.
Insurance is separate. You may get it through your employer as well, but it should be a different function.
2007-06-08 15:59:31 · answer #3 · answered by Ralfcoder 7 · 0⤊ 0⤋
totally separate,
a 401K is a retirement investment account
your insurance helps with expenses for health care etc (assuming your talking about health insurance)
2007-06-08 15:59:19 · answer #4 · answered by Anonymous · 0⤊ 0⤋
401k is a retirement account and is separate from your insurance.
2007-06-08 17:35:16 · answer #5 · answered by Anonymous · 0⤊ 0⤋
401K & Insurance = no relation
2007-06-08 15:59:52 · answer #6 · answered by Anonymous · 0⤊ 0⤋
It's totally seperate.
2007-06-08 16:47:24 · answer #7 · answered by Anonymous 7 · 0⤊ 0⤋