Review Your Open Enrollment Options

Open enrollment is a time for individuals to review and make changes to their healthcare and other employee benefits. Companies generally conduct open enrollment once a year, usually in the fall. Individuals can enroll in new benefits, make changes to their current coverage, or opt out of certain benefits altogether, including healthcare coverage, dental and vision plans, prescription coverage, life insurance, disability insurance, retirement savings plans, and any other employee benefits offered by their employer. It is important to ensure that the coverage meets your needs and that you are taking advantage of all available benefits.

Some key things to consider during open enrollment include:

1. Healthcare coverage: Review your current health insurance plan, including deductibles, copays, and coverage limits. Determine if there are any changes in your health needs or family situation that may require adjustments to your coverage.
    
2. Dental and vision plans: Make sure your dental and vision coverage is adequate for your needs. Look at any upcoming dental or vision expenses and ensure that your plan provides coverage for those services.
    
3. Prescription coverage: Consider any changes in your prescription medications or dosages and make sure your plan provides coverage for those medications.
    
4. Life insurance and disability insurance: Review your current life insurance coverage and any think about changes in your financial situation that may require adjustments to your coverage to make sure you have adequate protection for your loved ones. . Also, review your disability insurance coverage to ensure you are protected in case of injury or illness.
    
5. Retirement savings plans: Review your contributions to your employer-sponsored retirement savings plan, such as a 401(k) or 403(b) and consider increasing your contributions if possible to maximize your savings for retirement.
    
6. Flexible Spending Account (FSA) or Health Savings Account (HSA): If you have an FSA or HSA, review your contributions and make any necessary adjustments based on your anticipated healthcare expenses for the coming year. FSAs and HSAs can help you save on out-of-pocket healthcare costs and provide valuable tax benefits.

Mark your calendar now and take the time to review your benefits and upcoming medical and financial needs so you'll be ready when open enrollment occurs! .