It is currently Open Enrollment Season, which is the yearly window of opportunity to re-evaluate your benefits plans and make changes at you or your spouse’s place of employment. If your company offers benefits such as medical, dental, vision, or life insurance, once a year you have an opportunity to make changes. Commonly known as fall enrollment or open enrollment and it is happening now at many businesses.
For many group policies, unless you have a qualifying event, during Open Enrollment Season is the main time you can make changes to selected benefits. So it is very important that you evaluate your life situation and the choices you can make. Last year around 60% of employees neglected to make any changes to their plans. Sometimes no changes are needed but many people are on auto-pilot when it comes to re-evaluating their benefit choices. Not thoroughly looking into all your options, could leave you under-protected or miss out on financial savings
There are many things to consider when choosing and electing benefits.
How to Choose Benefits:
- What would you do in the event you experienced a sudden income loss?
- Did you have any large life events happen? Did you get married, have a new child, spouse change jobs, etc?
- Did you or your spouse receive a salary raise in the last year? Do you need to update your life insurance policy or disability coverage to reflect the new income?
- Is one or more of your children getting to the age they’ll need dental care or major dental work
- such as orthodontia?
- Is one of your children going to start driving soon? With a new driver in the home, re-evaluating auto and/or home insurance is an important thing to do
To help navigate the fall benefits season MetLife has created a series of YouTube educational videos called “Stop.Watch.Enroll.”
Tip: Look for tools and resources to help you make the most of the benefit options available to you and your family. MetLife has an easy-to-use life or disability insurance calculator, which can provide instant quotes. When using these tools, you’ll be prompted to answer a few quick questions, and then you’ll received customized recommendations right away.
Have you had any life events or milestones that you need to consider with your insurance plans?
This post was sponsored by MetLife. Rest assured, this Post was written by me and was not edited by the sponsor. Read more on my Disclosure Policy.
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