For many people, fall brings open enrollment, the period to choose your medical and workplace benefits for the year ahead.
While it may be easy just to renew last year’s choices that might be a costly mistake.
Your employer’s plans, providers, or costs may have changed.
And your own circumstances might be different.
Here are a few tips for navigating open enrollment.
Many employers offer more than one health, dental, or vision option.
Check the differences in provider networks, prescription coverage, and monthly premiums.
Next, take advantage of flexible spending accounts (FSAs) and health savings accounts (HSAs).
These let you use pretax dollars for eligible medical expenses.
And finally, check the insurance options.
There may be a base level of life insurance, with the option to buy more.
Make sure you have enough coverage to protect your loved ones.
Taking a fresh look helps ensure your benefits match your family’s needs for the coming year.
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor John Dickerson, and Hawes Dickerson. Members SIPC.
