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Employee benefits for caregivers

While government benefits like Supplemental Security Income (SSI), Social Security Disability Insurance (SSDI), and Medicaid are probably the first that come to mind when you think about covering your loved one’s financial and health needs, it's important to know that your employer might offer additional benefits to help support you as a caregiver. 
Here are some common employee benefits you might have access to: 

Tax savings

  • Health savings account (HSA). A tax-advantaged account you can use along with an HSA-eligible health plan to save money to help pay for qualified medical expenses. 
  • Health or dependent care flexible spending account (FSA). Lets you save pre-tax money to pay for eligible dependent care expenses, such as childcare or qualified medical expenses. 

Future and contingency planning

  • Life insurance. Depending on your policy, life insurance can either replace your income after your death or help transfer your wealth to your heirs, helping to protect your family’s financial future.  
  • Group disability insurance. Helps to replace your income if illness or injury prevent you from working. 

Practical assistance

  • Employee assistance program. Includes assessment, counseling, or referrals to help resolve a wide variety of personal situations. 
  • Benefits navigator or concierge. Help with choosing your benefits or assistance managing and scheduling day to day tasks. 
  • Flexible scheduling or paid leave. Adjusted working hours or paid time off to help you take care of your loved ones and yourself. 

Get organized, hit your goals

Create a flexible plan you can adjust to your life.

More to explore

This information is general in nature and provided for educational purposes only.

Fidelity does not provide legal or tax advice. The information herein is general in nature and should not be considered legal or tax advice. Consult an attorney or tax professional regarding your specific situation.