When talking with friends who work at American companies, the conversation about benefits often ends with health insurance and 401k. In reality, companies offer a much wider range of benefits, many of which go unnoticed.

Especially among Koreans, there seems to be a tendency to think that companies won't provide much, leading some to not even consider looking into it.

One of the most overlooked benefits is the EAP, or Employee Assistance Program. This is a free counseling service provided by the company, allowing employees to meet with a counselor for several sessions at no cost.

Many EAPs include not only psychological counseling but also legal and financial advice. This means you can ask a lawyer about divorce paperwork, will preparation, or tax issues for free.

According to SHRM data, over 80 percent of American companies offer EAPs. However, only about 5.5 percent of employees actually use them.

This means that nine out of ten employees are unaware that their company offers such benefits. I was a bit surprised to see this gap.

The second most overlooked benefit is tuition assistance, which helps cover educational expenses. Under IRS Section 127, companies can provide up to $5,250 per employee per year in tax-free educational assistance.

With the 2025 tax law changes, this $5,250 limit will be permanently maintained, and it can continue to be used for student loan repayment. Previously a temporary benefit, it has now become a program that can be used without time constraints.

Some companies even recognize expenses for graduate school tuition, certification exam fees, and language school tuition. The problem is that only 48 percent of companies offer this benefit, and many do not properly inform employees about it.

Next, we should discuss HSA and FSA. Both are accounts that allow you to use pre-tax dollars for medical expenses, but they function quite differently.

The FSA has a structure where any unused funds by the end of the year are lost. Many people unknowingly waste the money their company contributes each year.

In fact, a study by EBRI found that about half of FSA participants lose some amount of money each year. In 2023, the total amount lost by American workers due to FSA was over $4 billion, which is quite shocking.

On the other hand, HSAs are different. Unused funds roll over, and the account stays with you even if you change jobs.

This means that even in a year when you don't have many medical expenses, the money in your HSA is not wasted; it simply becomes savings. If your company offers an insurance plan with HSA options, it's worth comparing.

You can't overlook the retirement plan, 401k. Companies provide matching contributions, but it's said that one in four employees does not take full advantage of this matching.

Research shows that employees who miss out on matching contributions lose an average of $1,336 each year. If calculated over 20 years with compound interest, this can result in a difference of over $40,000, which means they are essentially leaving free money on the table.

Statistics also show that the lower the salary and the younger the employee, the higher the rate of missed matching contributions. I recommend taking another look at the 401k section on your pay stub.

If you have children, it's worth checking out backup child care benefits. This program provides temporary care services when a daycare suddenly closes or a babysitter cancels.

However, only 12 percent of companies offer this benefit, so it's still not very common. If available, it can be a very useful benefit, so it's worth digging through HR documents.

There are also adoption support benefits for families considering adoption. According to research, 34 percent of American companies offer paid adoption leave.

These benefits have one commonality: companies do not proactively inform employees about them.

Most are quietly tucked away in the HR portal, requiring a few extra clicks to find. It's likely that they were already mentioned somewhere in the thick stack of documents you received when you started.

Personally, I think it's a good habit to review this list of benefits during the year-end open enrollment period. There's nothing worse than missing out on money you could receive tax-free.

Ultimately, taking advantage of all the benefits available while working is for the sake of you and your family. I recommend checking the HR site during your lunch break today.