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➡️ Find a local advisor | 🎯 Find a specialized advisor
Do you work for Advocate Aurora Health System? Get the resources you need and expert insights from financial professionals who specialize in helping Advocate Aurora Health System employees make optimal use of their remuneration package and employment conditions.
Whether you’re a new employee of Advocate Aurora Health System or have risen to a management or executive leadership role over a multi-year career, it’s important to make smart money with your income and employee benefits. For example:
✅ Do you know what you need to do to get the most value from the Advocate Aurora Health System benefits available to you?
✅If you are thinking of leaving Advocate Aurora Health System for another job or plan to retire from the company in a few years, are you taking the right steps today to ensure you receive all the compensation and benefits you have earned?
Make the most of your benefits and compensation package from Advocate Aurora Health System
Throughout the year, Advocate Aurora Health System provides its employees and executives with updates on their benefits, ranging from health insurance and health savings plans to retirement plans such as a 401(k) and deferred compensation plans. While the company offers many helpful resources and access to knowledgeable staff who can help you with questions, you will also find financial professionals who are not affiliated with Advocate Aurora Health System and who specialize in helping employees make the most of their income and benefits.
Whether you work at Advocate Aurora Health System’s headquarters in Milwaukee, Wisconsin, Downers Grove, Illinois, another office across the country, or remotely from home, you may have questions about your compensation package and benefits that are better suited to a financial professional who can provide unbiased advice and guidance.
Sensitive topics such as discussing the steps you need to take before leaving your job at Advocate Aurora Health System to work elsewhere, protecting yourself ahead of a corporate layoff, or deciding when you plan to retire are all conversations that may be more comfortable with a trusted financial advisor.
Should you hire a specialized financial advisor from Advocate Aurora Health System or an advisor close to home?
You’ll likely find dozens of financial advisors in your area who are great at helping you achieve your financial goals with a personalized plan. But it can be more difficult to find a financial advisor who specializes in serving Advocate Aurora Health System employees.
Fortunately, many financial advisors offer virtual services so you can meet online no matter where you (or they) live.
This means you can choose to hire a specialized financial advisor who lives hundreds of miles away if you decide that their knowledge and experience working with Advocate Aurora Health System employees is better suited to helping you with your unique needs.
💡 In the questions and answers below, get insights from financial advisors who work with Advocate Aurora Health System employees to help them make smart decisions to get the most value from their compensation and benefits, reduce their money stress, and prepare for a comfortable retirement.
🙋♀️ Do you have questions that have not yet been answered? Use the form below to submit questions anonymously and check this article for updates with answers to your questions. You can also contact the financial advisors below for an introductory meeting or contact them by email with your questions.
💸 Smart money insights for Advocate Aurora Health System employees and executives
This page is divided into sections so you can quickly find the information you need and get answers to your questions:
- Q&A: Financial Planning Tips for Advocate Aurora Health System Employees and managers
- Get answers to your questions about your Advocate Aurora Health System Benefits and career
- Browse related articles
Q&A: Financial planning tips for Advocate Aurora Health System employees and executives
Answers to employee questions with Robert Dignan, CFP®, AIF®
Robert Dignan is a financial advisor based in Brookfield, Wisconsin, who specializes in providing financial planning services to Advocate Aurora Health System employees. Robert helps his clients get the most value from their Advocate Aurora Health System benefits and compensation package so they can enjoy life and feel confident in their financial future.
Q: As a financial advisor with experience helping Advocate Aurora Health System employees save for retirement, how can you help them get the most out of their benefits?
Robert: As the wife of a 30-year Aurora physician attorney, I have had the opportunity to watch the company (Aurora) grow from a leading regional healthcare system to a national healthcare powerhouse. In that growth process, the benefits have also evolved, resulting in great financial planning opportunities for employees at all compensation levels, whether part-time or full-time. By integrating company-offered retirement benefits with our clients outside the portfolios, we find ways to maximize the opportunities provided by the AAH 401(k) and/or deferred compensation plans, without the need to pay for additional “in plan management fees.”
Q: When you first speak with an Advocate Aurora Health System employee, what questions do you like to ask to better understand their unique circumstances and determine how you can best help them achieve their goals?
Robert: The most important question for anyone in healthcare today is, “How are you doing, and are you still enjoying what you’re doing?” Healthcare today has become a never-ending battle to maintain your sanity and life balance, especially for the nurses, nurses, medical technicians, and doctors on the front lines. First and foremost, we always need to know how our clients are doing mentally, because the “when and how” of retirement is extremely dependent on “are you doing well?” We expect these people to show us great care, and they should also expect this to be our primary concern.
Q: Is there a particular benefit available to Advocate Aurora Health System employees that you believe is not being utilized or understood by employees as well as it should be?
Robert: For those who qualify, the AAH Deferred Compensation Program is definitely a “must consider.” Not everyone qualifies, and not everyone should fund it, but it should be discussed, especially for anyone in a more highly compensated role.
Q: Advocate Aurora Health System employees who are considering leaving the company to take a job elsewhere: what actions do you recommend they take before resigning and shortly thereafter?
Robert: While no business is perfect, it’s important to understand what you’re giving up before you go. Many advisors want to start by talking about what to do with your retirement plan assets, but that is incredibly shortsighted. The first questions should be about the topic of the health insurance you are leaving (and exploring where you are in your “paid deductible” for the year) and what your new situation will be going forward. In a few cases, we’ve recommended waiting just a month or two to more fully take advantage of the most efficient use of Flex Spending dollars, health insurance deductibles already fully met, and even picking up a spare pair of glasses (per the vision plan) before an employee leaves.
Q: How do you advise Advocate Aurora Health System employees approaching retirement age to prepare for the transition from living off their paycheck to relying on other sources of income?
Robert: This is not a simple transition that applies equally to all employees. If a worker has had the benefit of funding a deferred compensation account in addition to his AAH 401(k), these assets can be capitalized to create income in a way that should supplement his Social Security income, or that could even allow him to defer his Social Security benefits to a later age to maximize his lifetime Social Security benefits. Once an Advocate employee retires within three years (or believes he will), we initiate a transition process that includes a very specific examination of his current expenses, his expected expenses at retirement, the expected changes in his personal income tax position, and how we will use his assets to replicate the equivalent of a monthly salary.
In addition, if the retired employee is under age 65, we will also work with him to ensure that he is in a position to have good health insurance until age 65, when Medicare begins. This may include using their AAH COBRA benefits, a referral to a trusted independent health insurance provider, or joint assistance with an ACA health plan. And as the client gets closer to age 65, whether they retire or not, we try to connect them with an independent advisor who specializes in Medicare Supplement or Medicare Advantage policies to help them fill the gaps in their Medicare coverage.
Meet Robert Dignan, Financial Advisor to Advocate Aurora Health System Employees:
View Robert’s profile page on Wealthtender or visit his website to learn more.
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About the author
Brian Thorp
Founder and CEO of Wealthtender
Brian is CEO and founder of Wealthtender and editor-in-chief. He and his wife live in Austin, Texas.
With over 25 years of experience in the financial services industry, Brian applies his experience and passion at Wealthtender to help more people enjoy life with less money stress.
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