CFO Corner Week 9: How Auditing Your Benefits Can Help You Find Money

What if there were hundreds  - or even thousands  - of dollars available to you this year that you didn't have to negotiate for, work overtime for, or ask anyone's permission to access? For a lot of people, that money already exists. It's sitting in your employer benefits package, unclaimed.

This week in CFO Corner, Meghan walks you through a simple benefits audit  - no complicated decisions, no permanent commitments. Just logging into your HR portal, seeing what's actually available to you, and identifying one opportunity you might be leaving on the table.

What you're doing this episode: This is not an overhaul. You're logging into your benefits portal, reviewing what you're currently enrolled in, and finding one small optimization. That's it. One move that could put more money in your pocket or unlock access to something you didn't even know you had.

Where to look and what to find:

Retirement benefits: Start with your 401(k) contribution percentage. If your employer offers a match and you're not contributing enough to receive the full amount, you're leaving part of your compensation unclaimed. Also check whether your company offers an Employee Stock Purchase Plan (ESPP)  - these allow you to buy company stock at a discount through payroll deductions and may be worth exploring depending on your investment strategy.

Health & savings accounts: If you're on a high-deductible health plan, you may be eligible for an HSA  - one of the most powerful tax advantages available. Contributions are tax-deductible, growth is tax-free, and withdrawals for qualified medical expenses are also tax-free. Some employers even match HSA contributions, and most people have no idea. Also check whether you're eligible for an FSA (Flexible Spending Account) for pre-tax dollars toward current-year medical expenses  - just keep in mind these are generally use-it-or-lose-it within the plan year.

Lifestyle & fringe benefits: These are the ones most people overlook entirely. Look for commuter benefits (pre-tax dollars for transit or parking), gym or fitness reimbursements, professional development funds for courses or certifications, tuition reimbursement, dependent care FSAs if you have kids, and employee discount programs. If you're already paying for something your employer will reimburse, you're leaving money on the table.

The key mindset shift: Your total compensation isn't just your salary  - it's your salary plus your benefits. An employer 401(k) match is a guaranteed return. An HSA match is a tax advantage. Wellness reimbursements are money back in your pocket. This is income you've already earned. You just have to claim it.

Your one action today: Pick the easiest win you found and do something about it  - increase your contribution by 1%, submit that gym reimbursement request, or enroll in an account you've been eligible for but never set up.

Ongoing maintenance: You don't need to live in your benefits portal. Set a reminder to review twice a year, revisit everything during open enrollment, and update your benefits after any major life change  - promotion, move, new baby.

Sometimes growing your income isn't about earning more. It's about fully using what's already available to you.