How to Avoid Open Enrollment Mistakes

It’s time. You’ve received your company’s annual mailers and email reminders, announcing that open enrollment is coming up. BE READY!! Let the fun begin! And how about those 25 page, thick paper, glossy photo brochures for your options? Everyone always looks so happy.

Calling all CDC, Cisco, Coke, Delta, Eaton, Georgia Pacific, Home Depot, Mailchimp, Siemens, State Farm and other GA professionals and families!! LISTEN UP.

The Goal

The goal of open enrollment is to update and optimize your elections, given any potential changes in your situation. “What kind of changes, Josh?”, you may be thinking:

  • Someone in the family is going to need braces or extra dental care?

  • You are planning to have a baby.

  • Your significant other changed jobs.

  • You got a raise and need to increase how much you put into your 401k.

  • You are afraid that Trumps’s tariffs are going to bomb the market, and you need to reallocate your 401k.

  • You never really thought about needing disability insurance, until now.

  • Your kids are starting day care and you heard you could invest pretax cash in an dependent care FSA.

There are any number of things that could need to be updated. But most people mistakenly think this is just a boring chore, with little added value. And anyway, you made the elections last year, why spend the mental space on it again?

Or worse than complete ambivalence about the topic, you know you need to make some changes, but you are “too busy” to read the literature, preventing you from making a wise decision.

It is easy to end up spending an extra $750/year, with poor choices.

Focus on your vocation and vacation!

Schedule time with me to run through the options. THIS IS A GREAT OPPORTUNITY TO GET AN EASY WIN. I can point out how to maximize your coverage and 401k choices while minimizing your spend … all while focusing on your long term goals. We can get started looking over your options, over a cup of coffee, and it won’t cost you anything.

I’m looking forward to catching up with you.

**After publishing this blog, an interesting article was published from Kaiser Family Foundation data, showing that employee based healthcare costs around $20,000/year ($14k = employer, $5500 = employee)

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