It will soon be open enrollment season — the time of year when you can review your employee benefits and make changes as needed.
What areas should you focus on?
One to consider is health insurance.
If you’re still satisfied with your coverage, and it hasn’t changed since last year, you may want to keep the same plan.
But some employers are now offering high-deductible plans, which may give you access to health savings accounts that can offer tax benefits.
Next, look at life insurance.
Is your employer’s group coverage sufficient for your needs?
If not, you may need to consider a private policy.
And the same is true for your employer’s disability insurance.
Finally, consider your 401(k) or similar retirement plan.
While you can typically make changes to your plan throughout the year, why not take this opportunity to see if you need to adjust your investments?
You might also consider boosting your contributions.
Try to get the most from your benefits package – it can be an important part of your overall financial strategy.
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor John Dickerson. Member SIPC.
