Tag: financial-well-being

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APRIL 2024

Savings dos and don’ts

Saving money not only feels good, it also gives you more control and opportunities throughout your life. With savings in the bank, you can more easily meet life goals, such as taking a big vacation, upgrading your home, or funding a child’s education.  

And here’s the good news: Saving money is not as hard as it may seem. With some thought, planning and a little discipline, you can make small changes that can make a big difference.  

Check out the ideas below for inspiration. And don’t forget to use your Costco benefits to help you reach your savings goals. 

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Do automate your savings. 

By setting up monthly automatic transfers from your checking account to your savings account, your money will build without any extra work on your part. Even if it’s just $25 a month, it will add up fast. Consider naming your savings account or accounts to match your savings dreams or goals, such as “vacation fund,” “emergency fund” or  “down payment.”

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Do take advantage of reimbursement accounts.*

Are your children in afterschool care? Do you need a dental crown replaced? Could your elderly parents use some in-home help? You can set aside pretax dollars for these expenses — and save money on taxes — with a reimbursement account administered by Inspira Financial (formerly PayFlex).

Enroll in a Health Care Reimbursement Account (HCRA) and/or a Dependent Care Assistance Plan (DCAP) during Annual Enrollment in November. You can also enroll in DCAP during the year if your childcare needs change. 

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Do teach your kids how money works. 

Kids can and should develop good money habits at an early age. You can help by teaching them the connection between work and money and encouraging them to have short- and long-term savings goals. Younger children can watch their savings grow in a clear savings jar. Tweens and teens can be given more responsibility by using a banking app on their phone to follow their savings progress or make transfers from checking to savings.

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Do start small.

It’s often easier to save if you start with a short-term goal. For example, committing to saving $20 a month for six months is more attainable than setting a goal to save $300 per month for a year. Once you reach your short-term goal, you’ll have created a habit of saving that can motivate you to keep going.

Don’t forget to monitor your autopay accounts.

Using autopay for gym memberships, streaming subscriptions and other services is a common practice. But this convenient way of paying also has its costs. In a recent survey, 42% of those polled continued to pay for subscriptions they no longer used.1 If you use autopay, make sure to regularly review what you’ve signed up for so you can cancel services you’re not using.

Don’t put off saving for your retirement.

Even saving a few dollars per paycheck for retirement can help you have a more secure financial future. The younger you start, the better, since you earn interest every year on both the money you save and the interest you earn along the way. For example, the chart below, provided by T. Rowe Price, shows the substantial impact that delaying your retirement contributions for ten years can have on the total amount you have available when you retire.

A bar chart about a person contributing $125/week for 45 years has more than double the retirement savings of a person contributing $125/a week for 35 years.
The chart is for illustrative purposes only and is not meant to represent the performance of any specific investment option. Final account balances are rounded to the nearest thousand. Assumes $125 invested each week in a tax-deferred account and a 7% annual rate of return for a hypothetical investor from age 20 to age 65. All investments involve risk, including possible loss of principal.

Costco’s retirement plan through T. Rowe Price makes it easy to save with automatic enrollment. You can choose a percentage of your pre-tax income to contribute. Costco makes contributions to your retirement plan even if you don’t contribute yourself.

Don’t skimp on preventive care.

Medical and dental conditions have better outcomes — and are less expensive to treat — when detected early. Make sure to get your annual physical exams, dental cleanings, vaccines and recommended screenings. Preventive care is free when you use an in-network provider.

Don’t go it alone.

We all have something to learn about improving how we manage our money. A SmartDollar® financial coach meets you where you are financially to help you make the changes necessary to reach your savings goals. You can start these free one-on-one sessions at any time and sign up for as many as you want. Spanish-speaking coaches are also available.

*Not available in Puerto Rico. 

Sources:
NerdWallet. How to save money now (before you really need it).
Americasaves.org. 54 ways to save money.
Ramsey Solutions. What is a financial coach?
Ramsey Solutions. 15 ways to teach kids about money.

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APRIL 2024

5 resources to help you navigate life

“In this world, nothing is certain but death and taxes.” – Benjamin Franklin  

We’ve probably all heard this quote before. But did you know that your Costco benefits offer financial and legal services to help you with these two events — and many more in between? The following five topics may or may not apply to you, but if they do, make sure to use your benefits programs for support.

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Taxes

Let’s start with something that most Americans have to do — taxes. While it’s likely many of you have already filed your income tax return this year (the filing deadline is always April 15, unless that date falls on a weekend), there may be a few last-minute filers out there who can use a little help.

If you have any questions about your taxes, Resources for Living (RFL), your Employee Assistance Program, offers a free consultation with a tax professional, as well as articles on topics such as common tax errors and tax benefits for education. RFL’s tax team can also prepare your personal income tax return at a discounted rate. 

Identity theft

Fraud and identity theft reports have nearly tripled in the last decade.1 And no one is immune. If you see any of the warning signs, such as bills for items you didn’t buy or debt collection calls for credit cards you didn’t open, the sooner you act, the better.

RFL’s identity theft and fraud resolution program provides free consultations with certified fraud specialists, 24/7. These specialists will work to restore your identity and credit history. You can also access RFL’s identity theft resource center for information and advice on how to protect yourself against identity theft before it happens.

Divorce and family issues 

Going through a divorce can be a challenge. If you have property or assets to divide, or if you have kids and need to work out custody and child support arrangements, you’ll probably need legal assistance.

A free 30-minute consultation with an attorney through RFL is a good first step. Then, if necessary, use their online resource center to find an attorney or mediator in your area and get a discount on ongoing legal advice. You can also search the extensive legal library to answer your questions and educate yourself on the legal process.

Wills and estate planning

No one wants to plan for sickness or disability. But planning can make all the difference in an emergency and at the end of life. Being prepared and having important documents completed can give you peace of mind, help ensure your wishes are honored and ease the burden on your loved ones.

RFL offers free tools to create legal documents that outline how your estate and finances will be handled in the future, including a will, a living trust and a power of attorney. Access the RFL Legal Resource Center and register for an account to get started. These documents have detailed, step-by-step instructions and can be accessed at any time. You can also request a free 30-minute consultation with an attorney experienced in estate law to help get you started. 

Investing where you work

As a Costco employee, you play a big role in the company’s success. Owning a stake in the company you work for means you can share in the profits you help build. This, in turn, may help grow your savings over time. 

Through the Employee Stock Purchase Plan administered by UBS, you can purchase Costco’s common stock through regular payroll deductions. Costco covers the commissions, so there are no additional broker fees. Participation is completely voluntary and open to employees age 18 and older.

1 Federal Trade Commission. Consumer Sentinel Network data book 2022.

Sources:
USA.gov. Identity theft.
National Institute on Aging. Getting your affairs in order checklist: Documents to prepare for the future.

Use the following resources to help support your financial well-being.

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CHECK IT OUT

APRIL 2024

Video: How to improve your credit score

Your credit score is a three-digit number, from 300 to 850, that represents your credit worthiness, or the likelihood you’ll pay your bills on time. The credit score model was created by the Fair Issac Corporation, now known as FICO, and is used by financial institutions. While other credit scoring systems exist, the FICO score is most commonly used.  

There are several factors that go into calculating your credit score, including your payment history and the total amount of credit you have. Credit card companies and lenders may consider your credit score when deciding whether to approve you for a new account or what interest rate you qualify for.  

Having a good credit score — one that’s over 670 — makes it easier to achieve major milestones, such as renting an apartment, buying a car or getting a mortgage for your first home.  

If you haven’t applied for a credit card yet, you can build a good credit score by making on-time payments to your cell phone or utility bill. If your credit score is low or has dropped, you can take steps to raise it, such as applying for a secured credit card that requires a deposit before use, usually starting at $200. 

Building and maintaining a good credit score is important — and doable. Check out the simple tips in the video below to help you get started.

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Sources:
Consumer Financial Protection Bureau. How can I improve my credit score?
CNBC. The beginner’s guide to credit scores: How to understand and improve your credit score.

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TAKE ACTION

MARCH 2024

Your monthly to-do list for financial well-being

Your financial well-being is unique to you. It’s based on how well you’re able to stay on top of your expenses, how secure you feel about your financial future and whether you have the freedom to make financial choices that allow you to enjoy life. 

Breaking these goals down to small, manageable steps can help you take control of your finances. This month-by-month guide organizes these steps to make it easy to take action throughout the year. Bookmark this page so you can refer back and stay on track.

If you need help getting started, get free one-on-one financial coaching from SmartDollar®. Your coach can guide you through each step. 

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March: Get organized

  • Create a budget. Use the EveryDollar budget app from SmartDollar® to simplify budgeting and help you track where your money is going.
  • Prepare for tax time. Gather last year’s forms and records, and submit your tax return as soon as you’re ready but no later than April 15, 2024.

April: Work on your money management

  • Start or fully fund your emergency account. Aim to save $1,000, then build your account to cover three to six months of expenses. Use your tax refund to replenish your account. 
  • Automate deposits. Set up recurring contributions to your savings account or investment account.

May: Improve your financial standing 

  • Check your credit report. Request this free summary of your credit history from a credit bureau, such as Experian or Equifax, and check for errors.
  • Review your debt. Consider following the debt snowball method from SmartDollar.

June: Do a mid-year checkup

  • Check your budget. Are you sticking to it? If priorities have shifted, adjust accordingly. 
  • Review your investments. The mix of stocks and bonds in your investment funds should match your tolerance for risk and length from retirement.

July: Invest in yourself

  • Practice mindful spending. Waiting a pre-set period (such as 30 days) before you buy will help make sure you really want a particular big–ticket item. 
  • Educate yourself. Find a podcast, book or blog to learn more about financial topics that interest you.

August: Focus on your or your children’s future 

  • Identify and save for your goal. Are you planning to buy a home, travel, or retire at 55? Set money aside each month (automatically through your bank, if possible) to fund your goal. 
  • Open a 529 account. These investment accounts can help you save for your child’s college, graduate school or vocational training.

September: Stay safe online

  • Protect your passwords. The strongest passwords include upper- and lowercase letters, numbers and symbols, and made-up words that don’t appear in the dictionary. 
  • Watch for fraudsters. Don’t open or reply to unsolicited emails asking for financial information, and if the URL looks strange in any way, don’t respond.

October: Give back

  • Donate. Costco’s Workplace Giving Campaign starts this month. Every contribution you make supports the local community and is matched by Costco at 60%. Watch for the notification email. 
  • Volunteer. Donating your time and energy is just as valuable as giving money. Look to your local food banks, schools, nursing homes, and other community resources for opportunities to volunteer.

November: Understand your options

  • Evaluate your insurance. Review your coverage during Annual Enrollment. Get familiar with your voluntary short–term disability options, and your basic life, basic accidental death and dismemberment (AD&D), and long-term disability insurance covered by Costco.
  • Update your estate plan. Review and update beneficiary designations. Create or update your will with help from Resources For Living.

December: Prioritize your retirement

  • Fund your future. Aim to increase your retirement contribution next year. Costco helps you save for your retirement by automatically increasing your contribution annually.
  • Request a Social Security statement. Learn about your future Social Security benefits and current earnings history.

Sources:
T. Rowe Price. Make a fresh start in 2024: your financial checklist for the new year.
Consumer Financial Protection Bureau. Get money smart. 25 tips to improve your financial well-being.

If you’re ready to work on your financial well-being, the following resources can help.

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FEBRUARY 2024

How to handle financial stress

Your palms are sweaty, you haven’t been able to sleep soundly for a week and your stomach is in knots. You may be experiencing financial stress, a condition that’s affecting 72% of Americans, according to the American Psychological Association.

But you don’t have to suffer forever. There are strategies you can follow to lower your stress about money. See if they can help you find a sense of peace — even empowerment — over your finances.

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Money worries can hurt your physical, emotional and social well-being

Financial stress can be described as worry, fear and anxiety about economic or financial events. It can sneak up on you out of nowhere and show up anytime, day or night. Chronic financial stress can cause insomnia, headaches, fatigue, weight loss or gain, muscle tension, stomach concerns, and depression. Over time, it can lead to an increased risk of heart attack or stroke.

And it doesn’t stop there. Worries about money can take a toll on your relationships with your partner, family and friends. It can hurt your focus at work. The stress you feel may make you more irritable and cause you to argue or lash out at loved ones. Research backs this up — studies show that finances are what couples fight about most.

Men and money

Cultural stereotypes can add to the stress. According to a Pew Research Center survey, 72% of American men say a man needs to provide for his family to be a good husband or partner.1 This pressure to provide can bring up feelings of guilt or shame if a man doesn’t feel like he’s living up to his potential. Society may also condition men to associate money with their success as individuals or a mark of their character. Money troubles can hurt their sense of self.

6 steps to financial peace

Fortunately, there are actions you can take to help you handle financial stress in a healthy way. Follow these steps to take control of your money.

number 1

Take inventory.

If you’ve been stashing your bills in a drawer, it’s time to take them out. Just because they aren’t in plain sight doesn’t mean they’ll just go away. It may be scary, but facing your debts head on is the most helpful thing you can do to start relieving stress. Organize your bills by closest due date and tackle them one at a time so you don’t get overwhelmed.

number 2

Make a budget and stick to it.

It may not seem like it, but creating a budget gives you more freedom. A zero-based budget is one to try. First, write down your income. Then, write down your expenses. Then, subtract your expenses from your income until it equals zero. This doesn’t mean you have nothing in the bank. It means you’ve given every single dollar a purpose and a job to do. Use the free EveryDollar app from SmartDollar to make budgeting even easier.

number 3

Have monthly budget meetings.

Budgeting can be hard. But doing hard things is easier when you connect with another person in the same situation. It can be your spouse, a family member or a trusted friend who’s encouraging enough to cheer you on but bold enough to hold you accountable.

number 4

Track your expenses.

When you see where your money is going, you’re not wondering where it went. You can start taking responsibility and make changes, which, in turn, will reduce your financial stress.

number 5

Practice gratitude.

If you’re constantly comparing yourself to others, it’s easy to be caught in a trap of wanting what you don’t have and overlooking what you do. Learn what triggers these feelings — social media is a common culprit — and limit your exposure to them. Remember, contentment doesn’t come when we have enough. It comes when we see that what we have is enough.

number 6

Set goals.

When you’re stressed about money, it can be hard to set financial goals. Goals not only keep you motivated, but each successful step toward your goal can increase your confidence and reduce your stress. Start with something small but doable, such as saving 10% of your paycheck for an emergency fund.

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SmartDollar has taken away a lot of confusion and helped me create a monthly budget. I feel less worried about money.

— a Costco employee

1Pew Research Center. Americans see men as financial providers, even as women’s contributions grow.

Sources:
Ramsey Solutions. How to deal with financial stress.
American Psychological Association. Speaking of psychology: The stress of money, with Linda Gallo, PhD.
The Independent. Money problems can take a big toll on men’s mental health — signs someone needs support.

Ready to reduce your financial stress? Turn to these resources to help you change how you handle your money.

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Take the pledge

TAKE THE PLEDGE

JANUARY 2024

Let’s get this party started

It’s a new year, full of lots to celebrate. Will you reach your weight-loss goal? Pay off your credit card debt? Watch your children thrive at school? You can set yourself up for 12 months of success by taking the 2024 We’re in This Together pledge — and inviting your spouse or domestic partner to join you.

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Pledging gives you power

When you take the pledge, you commit to learning about the benefits available to support the well-being of you and your family. That means you’ll know where to go for help and how to use your benefits to make real changes in your life. You’ll find resources to help you reduce stress, improve relationships, reach your financial goals, stay healthy and much more.

It’s a new year, with new goals to strive for, so renewing your pledge is important. Explore your benefits and resources with fresh eyes – and check out what’s new for 2024.

Small victories add up

With help from your Costco benefits, there’s a lot you can do to make a difference in your life. Big goals are great, but small ones can also leave a lasting impact on your emotional, financial and physical well-being. For example, if you invest $100 per month in your 401(k) instead of spending it, you could end up with over $40,000 in 20 years. Or, if you swap soda for flavored or carbonated water, you’ll take in between 550 and 1,250* fewer calories per week — and reduce your risk for obesity and type 2 diabetes over your lifetime.

These small wins also improve your confidence. Any accomplishment releases dopamine, which boosts your mood, motivation and attention. And it signals you to keep at the activity again and again.

Big or small, whatever changes you decide to make in 2024, stick with them. Be sure to celebrate each success along the way.

Get the most out of your benefits and take the pledge! Make this the year to celebrate you.

*Based on drinking one 12-ounce can of soda per day.

Sources:
UCLA Health. Drinking soda linked to many adverse health conditions.
Investopedia. Investing $100 a month in stocks for 20 years.
University of Minnesota Extension. Celebrate the small stuff.

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Explore your benefits

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EXPLORE YOUR BENEFITS

JANUARY 2024

We’ve got your back

No one can do it all themselves. Each of us needs help and community, especially when we’re making changes in our lives. That’s why Costco offers a wide range of benefits resources to help you with all areas of your well-being — so you always feel supported and never feel like you have to do it on your own.

As you gear up to pursue your goals for the year, commit to getting to know your benefits and, if you haven’t already, take the pledge. Encourage your spouse or domestic partner to take it, too. And prepare to celebrate each accomplishment you make along the way.

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A strong foundation for emotional, financial and physical well-being

Your Costco benefits provide the care you need to flourish. They can help you:

Live a longer, healthier life

Costco medical and dental plans cover preventive care at 100% when you see an in-network provider. Preventive care includes physical exams, dental checkups and cleanings, some cancer screenings and certain age-appropriate immunizations. This routine care can help you stay well and catch health concerns early, lowering your risk for disease and disability.

Get help for a serious health challenge

Live Healthy Team* Coaches can help employees and their families enrolled in an Aetna® medical plan create an action plan, connect to the right resources and coordinate care when you’re diagnosed with a serious health condition. You can also use 2nd.MD to get a second opinion on your diagnosis or treatment plan, and connect with Resources For Living (RFL) to get emotional support services, including counseling and daily life assistance.

Manage a chronic condition

Omada for Diabetes, Hypertension & Prevention provides personalized online programs to help you make healthy choices when living with a chronic condition. You’ll work with a dedicated health coach and a clinical specialist to get the support and tools you need to make simple changes for a healthier life.

Find mental health support

RFL has a team of care partners that can help with challenges such as stress management, work-life balance, relationships, grief, depression, anxiety, substance misuse, self-esteem and personal development. They offer in-person or virtual counseling, daily life assistance, disaster relief, help with child or elder care, and more. You can also use Supportiv for online peer-to-peer support and AbleTo** for help building skills to better cope with life’s challenges.

Deal with parenting challenges

RethinkCare gives your family 24/7 access to tools, webinars and resources to help you understand, teach and better communicate with your children, including those with developmental or learning challenges. You can also try Supportiv for peer-to-peer parenting support.

Quit tobacco or get support for drug and alcohol misuse

Costco Tobacco Cessation Program pairs you with personal support to design a plan to help you quit tobacco for good. And if you or someone in your family is struggling with drugs or alcohol, RFL can help you find in-network rehabilitation facilities and provide behavioral health support services.

Go through a life change

Your Costco benefits are there for you when you’re building a family, buying a home, going through a divorce or coping with the loss of a loved one. Resources to help with these transitions include the Adoption Assistance Program, the Aetna Maternity Program* for help with infertility and postpartum challenges, and RFL for legal and financial consultations and grief counseling.

Create a stable financial future

T. Rowe Price manages the Costco Retirement Plan that helps you save for your future. Costco will make contributions to your account even if you don’t. You can also use SmartDollar® to take control of your finances and pay off your debt, and spend less on taxes with a Health Care Reimbursement Account (HCRA)** and a Dependent Care Assistance Plan (DCAP).**

Whatever you’re looking to achieve, use your Costco benefits to help you get there. Learn more about some of the resources available to you below.

*Available on the Mainland only.
**Not available in Puerto Rico.

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Kudos to you!

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KUDOS TO YOU!

DECEMBER 2023

Thanks for a great year

It’s hard to believe another year is ending. But what a year it has been! Your dedication, resilience and unique talents played a major role in Costco’s success. We’re grateful for all that you do.

Another thing we appreciate — your commitment to your emotional, financial and physical well-being. Over 100,000 of you took the We’re in This Together pledge this year, and many of your spouses and domestic partners joined in, too. An increasing number of you used Resources For Living® to support your mental health. And in one month alone, your enrollment in Omada for Joint & Muscle Health nearly tripled — a sign that you know the value of keeping your body healthy.

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What will you celebrate?

Next year is full of opportunities to make changes for the better. You can start by pledging to continue to work toward your emotional, financial and physical well-being goals, beginning in January, 2024.

If you enrolled in the quarterly Well-being Challenges this year, thanks for participating. Challenge #4, our final challenge of 2024, focuses on your emotional, financial and physical welll-being. Why not give it a try? The challenges are a great way to take small steps toward your larger goals and celebrate your progress.

As always, your well-being portal will be full of news and information about a variety of health topics each month to support you emotionally, financially and physically. Check back often so you don’t miss a thing.

4 podcast guests' profile photos

A year of Your Stories

Our 2023 podcast series featured inspiring stories from four of your co-workers. Each shared their well-being struggles and highlighted the important role Costco benefits played in their journey to better health. This month, Costco employee Reese Schmelling tells his story and how the Live Healthy Team* played a critical role in his recovery.

You can listen to all four podcasts now. Their stories might help you in your own well-being journey.

quotes

Costco continues to be committed to prioritizing the health and well-being of our employees. That’s why we work hard to provide you and your family with valuable and affordable benefits to help you receive quality care whenever needed.

We want you to be familiar with these benefits and resources so that you can get the most out of them. And the best way to do that is by participating in the We’re in This Together pledge. By participating, you’ll receive information specific to your needs.

Thank you for the important role you play in making Costco a great company. And best wishes to you and your family for a healthy 2024!

Craig Jelinek signature

Craig Jelinek,
CEO

Ron Vachris signature

Ron Vachris,
President

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Ron Vachris headshot

*Available on the Mainland only.

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LEARN MORE

DECEMBER 2023

Well-being toolkit

By learning about and using your Costco benefits this past year, you’ve worked hard to improve emotional, financial and physical well-being for you and your family. Studies show that higher levels of well-being are associated with a lower risk of disease and injury, better immune function, increased longevity, heightened personal development and greater social connectedness. This well-being toolkit will help you keep up the good work you started.

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How to use your toolkit

Your well-being toolkit provides simple ideas to help you live healthier, improve your quality of life and realize your full potential. To get started, choose the aspect of your emotional, financial or physical well-being you’d like to work on, and then try one or more of the suggested activities. Use the toolkit whenever you need support to be your best self.

Keep the well-being toolkit as a handy checklist to use anywhere, at any time.

emotional well-being icon

Take an emotional breather

Build resilience

  • Create a list of things you’re grateful for, such as a great friend or warm cup of coffee.
  • Look at a difficult situation from different angles to find another solution.
  • Go to a park or greenspace and soak up nature.

Strengthen connections

  • Spend time with your kids, friends or family members doing something you all enjoy.
  • Ask for help when you’re tired or overwhelmed.
  • Volunteer for causes you care about in your community.

Be mindful

  • Take slow, deep breaths through your nose and out through your mouth.
  • Go on a stroll and engage all your senses.
  • Do a mental scan of your body to feel more connected to your physical and emotional self.
financial well-being icon

Take a financial time-out

Know where you stand

  • Track your spending to see where your money is going.
  • Check your FICO credit score (the number used to predict how likely you are to pay back a loan) through your bank or online service.
  • Set up a budget to make sure you can cover your expenses.

Tackle debt

  • Create a debt pay-off plan.
  • Cut down on expenses that aren’t necessary.
  • Reduce your credit card use.

Save for the future

  • Save money for an emergency fund.
  • Increase your Costco 401(k) contribution.
  • Set up automatic recurring deposits into a savings account.
physical well-being icon

Take a physical break

Get active

  • Set specific goals for your physical activity, like “walk a mile every day.”
  • Try a free 20-minute online workout — there are lots to choose from on YouTube.
  • Take the stairs or walk whenever possible.

Mind your metabolism

  • Stand or walk regularly to reduce your time sitting down.
  • Drink water before grabbing a snack to help fill you up.
  • Sleep at least seven hours a night to keep metabolism steady.

Maintain your muscle

  • Walk with small hand weights to work your arms and your core.
  • Do pushups, squats or lunges when watching TV.
  • Eat a balanced diet with plenty of protein.

Your Costco benefits can help you on your well-being journey. See the resources below for more information.

Sources:
Forbes. How to create a financial wellness checklist.
National Institutes of Health. Emotional wellness toolkit.
National Institutes of Health. Physical wellness toolkit.
Ramsey Solutions. The 7 baby steps.

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2024 Annual Enrollment: November 1-21

LET’S GET COOKING

NOVEMBER 2023

Annual Enrollment is served!

November 1–21, 2023 

Annual Enrollment is your opportunity to review and make changes to your benefits plan elections for the upcoming year. It’s also the time to confirm eligibility for any enrolled family members to continue their coverage through 2024.

In late October, an Annual Enrollment letter and the 2024 Benefit Plan Changes booklet were mailed to you to help you with the enrollment process. If you didn’t receive these materials, or if you prefer to review online, you’ll find everything you need at Costcobenefits.com.

Want to make sure you don’t miss any steps? Watch this quick Annual Enrollment video.

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The recipe for a healthy, happy 2024

Follow this checklist to ensure a successful Annual Enrollment. You must complete these steps by November 21, 2023.

  1. Sign up for text reminders on the Enrollment Website at Costcobenefits.com.
  2. Watch the Annual Enrollment video to make sure you don’t miss any steps.
  3. Review your 2024 Benefit Plan Changes booklet.
  4. Complete your Dependent Verification to continue coverage for your eligible family members. This must be completed every year, even if you don’t make any changes to your benefits.
  5. Review your current benefits plan elections on the Enrollment Website. This includes confirming your life insurance beneficiaries.
  6. Enroll or re-enroll in your Health Care Reimbursement Account (HCRA) and/or Dependent Care Assistance Plan (DCAP) for 2024.* Remember, even if you’re already enrolled, you must re-enroll to participate in 2024.

To complete your Annual Enrollment, use your ESS user name and password to log in at Costcobenefits.com.

*Not available in Puerto Rico.