It’s that time of year again, RAL.
Open enrollment is fast-approaching, which means now is the time to take a comprehensive look at your needs, goals, and shifting annual priorities.
Here are seven key factors to consider:
- Life changes — Marriage, divorce, kids, health updates, or financial shifts all can dramatically impact your coverage needs.
- Medical + dental — Braces on the horizon? Review past and expected expenses, and plan for any upcoming costs.
- HSA contributions — A Health Savings Account can be an effective tool for covering health care expenses in retirement.
- FSA options — Explore dependent care or health care Flexible Savings Accounts, noting benefits related to rollover rules and tax advantages.
- Insurance needs — Revisit life, disability, and supplemental policies + adjust coverage as needed.
- Retirement savings — Take a broad look at your retirement plan and use this time to increase contributions, review allocations, and confirm any beneficiaries.
- New benefits — Finally, don’t overlook perks like pet insurance, legal plans, or childcare support.
Interested in assistance? Richardson Private Wealth Advisors can help you make the most of open enrollment.
