Top 5 Considerations for Open Enrollment: Review Your Company Benefits

Open enrollment is your opportunity to thoroughly review your company’s benefits offerings and ensure you’re making the best choices for yourself and your family.

Here are 5 key benefits to review and consider each year:

  1. Health Insurance Plans
    Examine the available health insurance plans, including their premiums, deductibles, copayments, and coverage options. Confirm that the plan you’ve chosen meets your current healthcare needs and is within your budget.
  2. Dental and Vision Coverage
    Review the details of dental and vision plans. Check coverage for routine exams, treatments, and preventive care to ensure you’re getting the necessary support for your dental and eye health.
  3. Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs)
    Evaluate the benefits of FSAs and HSAs, which can provide tax advantages for medical expenses. Decide how much to contribute based on your anticipated healthcare costs for the upcoming year.
  4. Retirement Plan Options
    Look at the retirement plans offered, such as 401(k) or 403(b). Consider the employer match contributions and any changes to investment options or plan rules to optimize your retirement savings.
  5. Additional Benefits
    Don’t overlook other valuable benefits that might be available to you such as life insurance, disability coverage, and employee assistance programs. These can provide critical support in various situations and enhance your overall benefits package.

Be sure to thoroughly review your benefits package so that you have a clear understanding of what is available to you. At Copper Leaf Financial we often work closely with our clients to review their options and help them make the most of their open enrollment opportunity.

Contact us today for more information.

By Ashlee Solarczyk, CFP®, CWS®, Senior Wealth Advisor, Copper Leaf Financial, LLC

Recipients should not act on the information presented without seeking prior professional advice. Check with your advisor about your specific situation or contact Copper Leaf Financial at 802.878.2731.