Received a new job but no health insurance or 401k (job offer, employee)

[mrxalleycat]

I met the boss and hired me on the spot to start the next day. I received the job offer at $15/hr for a full-time accounting position. I started the new job on Friday. However, the company only has 10 employees. I didn't hear the boss mention anything about health insurance or 401k?

Does that mean I have to buy my own health insurance and provide my own 401k?

What kind of situation am in if I work for a company that doesn't provide health insurance or 401k?

[BobNJ1960]

Ask boss, but with 10 employees, I would be shocked if they offered either.

[s1alker]

If its a small business probably not. But you can go on Obamacare and open up a 401k by yourself from Fidelity or related.

[fishbrains]

Originally Posted by mrxalleycat

I met the boss and hired me on the spot to start the next day. I received the job offer at $15/hr for a full-time accounting position. I started the new job on Friday. However, the company only has 10 employees. I didn't hear the boss mention anything about health insurance or 401k?

You should have asked about all benefits before accepting the job.

Does that mean I have to buy my own health insurance and provide my own 401k?

There is no way for us to tell. We don't work for your company, we didn't hear the conversation, and we have no way of knowing how thorough your boss is.

What kind of situation am in if I work for a company that doesn't provide health insurance or 401k?

For health insurance you are going to have to rely on the ACA (aka Obamacare). You won't be eligible for a 401k, as that is a business sponsored plan. You can put money away in an IRA instead.

Look at this as a starter job. If you are being paid $15/hour with no benefits, it's not a great job. Use the job to gain a year or two if experience and get a better job once you have built up your resume.

[Nell Plotts]

Didn't you ask about this at the interview???

IMHO you should continues to search for a position with the pay and benefits you need/want.

[mrxalleycat]

The maximum rate that a company can contribute to 401k is 3% ? Is that right ?

[fishbrains]

Originally Posted by mrxalleycat

The maximum rate that a company can contribute to 401k is 3% ? Is that right ?

No, that is wrong. I am not sure what the match limit is, but I have received 4% on a 401k, and 10% on a 403b.

[Nell Plotts]

In my experience small employers offer employees health insurance but not 401(k)s. An employee can always open an IRA and have more control over its investments.

[veuvegirl]

Honestly how would you expect an Internet board to know? You need to ask you employer.

[TaxPhd]

Originally Posted by mrxalleycat

I met the boss and hired me on the spot to start the next day. I received the job offer at $15/hr for a full-time accounting position. I started the new job on Friday. However, the company only has 10 employees. I didn't hear the boss mention anything about health insurance or 401k?

Does that mean I have to buy my own health insurance and provide my own 401k?

What kind of situation am in if I work for a company that doesn't provide health insurance or 401k?

$15/hour is very low for a full time accounting position. Do you have an accounting degree? If so, you should be able to make $15,000 - 20,000 a year more. At a job with good benefits.