Questions & Answers

Open enrollment is the annual period during which employees can enroll in or make changes to their employer-sponsored benefits, including health insurance, dental, vision, life insurance, and flexible spending accounts. Outside of open enrollment, you can typically only make changes if you experience a qualifying life event such as marriage, birth of a child, or loss of other coverage.

A High Deductible Health Plan (HDHP) has lower monthly premiums but higher deductibles — you pay more out-of-pocket before insurance kicks in. HDHPs are often paired with Health Savings Accounts (HSAs). A Preferred Provider Organization (PPO) has higher premiums but lower deductibles and more flexibility in choosing providers. The right choice depends on your health needs, financial situation, and how often you use medical services.

A Health Savings Account (HSA) is a tax-advantaged savings account available to people enrolled in HDHPs. You contribute pre-tax dollars, the money grows tax-free, and withdrawals for qualified medical expenses are also tax-free. Unused funds roll over year to year and can be invested. After age 65, you can withdraw for any purpose (taxed as income, like a traditional IRA).

A Flexible Spending Account (FSA) lets you set aside pre-tax dollars for eligible healthcare expenses. Unlike HSAs, FSAs are typically 'use it or lose it' — unused funds may not roll over. There are two types: Healthcare FSAs for medical expenses, and Dependent Care FSAs for childcare and elder care costs. FSAs can be used with any health plan, not just HDHPs.

To maximize your employer match, contribute at least enough to your 401(k) to receive the full match. For example, if your employer matches 50% of contributions up to 6% of your salary, you should contribute at least 6% to get the maximum match. Not doing so is leaving free money on the table. If you can afford to, consider contributing up to the annual IRS limit.

A common rule of thumb is to have life insurance coverage of 10-12 times your annual income. Employer-provided life insurance is typically 1-2x your salary, which may not be enough. Consider your dependents, debts, mortgage, and future expenses like college tuition when determining how much supplemental coverage you need.

Enrollment Guide provides personalized benefits consulting to help you make the most informed decisions about your employee benefits. We review your options, explain the trade-offs, and help you select the benefits that best fit your lifestyle and financial goals. We work with employees at all stages — from new hires to those approaching retirement.

The best time to contact us is before or during your open enrollment period, when you have a qualifying life event (marriage, divorce, new baby, job change), when you're onboarding at a new employer, or any time you have questions about your current coverage. We're here year-round to help.