Good Financial Reads: Your Guide to Open Enrollment

It’s open Enrollment season again and time for those big bundles of paperwork with pages and terms that confuse more than they clarify.  Now I am a financial nerd and I love going through information, but I recognize that not everyone does. That said, I do think it’s important that we touch on and review these benefits available to you specifically today. We are going to be talking about health insurance because making the right choice here could save you tens of thousands of dollars for you and your family. As we are going through health insurance, here are five things I want you to be mindful of when reviewing your employer health options.  

It’s that time of the year again. Open enrollment for the coverage year 2021 goes from November 1 to December 15. We get various notifications from our HR departments, brochures that explain all the benefits, and maybe some live sessions from HR with invited guests from some of the providers. Then what? How do we make decisions about our benefits?

Wading through the health insurance landscape can be tricky and overwhelming as you’re starting your journey in the U.S. No matter your age or marital status, it’s important you have some level of health insurance to take care of you and your family in case of illness. 

Towards the end of the year is what’s known as open enrollment season — a specific time when you can sign up or change your health insurance plan.

For some of you it is about time for open enrollment. 

This means electing new benefits, changing some benefits from what you had in the past, and really understanding what are all the things your employer offers you beyond just your base salary.

Today we are going to look at three very important benefits to make sure you are utilizing them to the best extent that you can. 

The first one that comes to mind, and rightfully so, is health insurance.