Managing a Family

  • Multi-taskers
  • Family first
  • Finding balance

Whether you’re renovating your home, planning a new adventure, or focusing on your next professional accomplishment, you want the best advice available. The same holds true for your financial plan.

To be happy, healthy, and ready for tomorrow, you need to be confident about your finances. Explore the following benefits and resources that are designed to support your specific needs — and boost your financial wellbeing!

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Coordinate care for you and your family

From translating confusing medical bills to researching health care options and costs, Enhanced Care Management (for BCBS members only) is available to help you navigate the complex health care system and save money. Enhanced Care Management can assist with resolving billing issues, finding providers, scheduling appointments and more. It’s a free service available to you and your family members (including your parents).

Call 1-800-287-8757, Monday through Friday, 8:00 a.m. to 9:00 p.m. ET.

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Don't lose sight of your financial future

The Vanguard website has a wealth of information and educational tools to help ease your financial worries. The Vanguard "Lessons" (for example, How To Handle Financial Emergencies and How To Save For College) offer a comprehensive collection of resources, tools, and calculators to help you balance your retirement saving priorities whether you are looking to get started, want to stay on track or are looking to invest your retirement account funds.

The website has a retirement modeler that allows you to project your retirement savings as well as estimate your expenses in retirement to ensure your financial future is on the right track.

If you're already taking full advantage of the company’s 401(k) match, that's great but don't stop there! The more you contribute today, the more comfortably you'll be able to enjoy retirement. Use the tools and resources on the plan’s website to help you make the most of your retirement dollars.

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And, don’t forget about the Health Savings Account. Our CDHP has a higher deductible, but it costs less from your paycheck and is the only plan that pairs with a personal tax-free Health Savings Account (HSA). An HSA not only saves you money on eligible health care expenses, but it has triple-tax advantages: Your contributions go into your account tax-free, can be withdrawn tax-free and earn interest tax-free. What’s more, National Grid makes contributions to your account to help you grow your balance.

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Put company stock to work for you

By enrolling in the Employee Stock Purchase Plan (ESPP), you have the opportunity to buy American Depository Shares (ADS's) of National Grid stock at a 15% discount. Dividends on the shares are paid twice each year and can also be reinvested at a discount. Purchasing company stock is a great way for you to share in the growth of the company.

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Balance your work and family life

It's natural to feel a little overwhelmed. If you’d like some support, the free Employee Assistance Program (EAP) is here to help you. If you’d like some support with personal and work/life concerns, the free Employee Assistance Program (EAP) is here to help you. The EAP, provided by Corporate Counseling Associates, is a confidential resource that offers online seminars, help finding providers, ways to manage your finances, assistance with alcohol and substance abuse and makes referrals to professionals like counselors or financial planners.

Access free, confidential counseling or assistance by phone at 1-800-833-8707 or online (Company Code: National Grid).

National Grid has several Employee Resource Groups that help maintain an inclusive workforce. The ERGs allow you to connect with other employees who have a similar background and interests as you. They can be a good resource if you need some help. To find out more about the ERGs, go to the Infonet.

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Plan for care of your loved ones if you need it (For Management Only)

You have access to back-up child and elder care services at a discounted price through the Bright Horizons Care Advantage Program®. Register today so you have a plan in place if your sitter is sick or your day care center is closed.

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Save on expenses for child care tax-free

You can reduce your child care or elder care costs by contributing to a Dependent Care Reimbursement Account (DCRA) with before-tax dollars. You can pay for eligible dependent care needed so you (and your spouse, if you’re married) can work, look for work, or attend school full-time. For Management employees, if you contribute to a Dependent Care Reimbursement Account (DCRA), you’ll receive a company contribution equal to 10% (to a maximum of $500) of your DCRA contribution amount to help you cover eligible expenses.

You can enroll in this benefit during open enrollment in the fall or if you have a life event (such as the birth of a child) that would allow you to enroll.

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Protect your family from the unexpected

An accident, disability or death could present a significant financial hardship for your family. Consider adding more protection with a voluntary medical plan that pays cash benefits directly to you if you experience an accidental injury, certain critical illness or certain inpatient or outpatient hospital treatments. Separate plans are available for hospital stays, accidents, and critical illness. You have the opportunity to enroll during our benefits open enrollment. (For everyone EXCEPT Local 12431, Local 13507 and Local 12003, 12012-04)

In addition, all employees receive company-paid basic life coverage and most receive basic AD&D, which provide valuable protection. But you may want to expand this coverage with optional life and AD&D insurance so your family will have the protection they need if the unexpected happens.

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Make sure you have a will (For Management, Local 101, Local 1049, Local 3, Local 318, 350/369, Local 13507, Local 12003, 12012-04)

A carefully prepared and up-to-date will is an important way to ensure your loved ones will benefit from your assets in the way you intend. If you’re enrolled in Hyatt Legal Plans, you’ve got coverage for the cost of a variety of common legal services, such as will preparation. If you’re not enrolled, think about legal services you might need and see if the plan is right for you.

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Get the best deal on car, home or pet insurance

Protect your car — and save money — with discounted coverage through the group auto insurance program. You can call 1-855-861-4282 for renter’s and homeowner’s insurance.

For Management employees, click here.

Your pet’s health is also important to you, but the cost of helping him or her if something goes wrong is hard to think about. Consider pet insurance, which provides coverage for veterinary care. (For Management Only)

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Think about what you will need for college expenses (For Management Only)

To best support your child’s educational future, start saving for college now. Tuition and expenses can be significant and continue to increase each year. Use the resources available through Bright Horizon’s College Coach, a part of the Bright Horizons Care Advantage Program®, to estimate your total costs, determine how much you need to save, and form a plan to get there.

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