Making the Most of Open Enrollment
Open enrollment can feel overwhelming. Between acronyms, plan options, and coverage details, it’s easy to default to last year’s selections and hope for the best. But taking a closer look could uncover meaningful ways to save money, boost benefits, and align your coverage with your financial goals.
Spending just 30 minutes with your financial planner can make the process much simpler. Together, we can review your options and make confident choices that maximize value in three key areas:
Maximize your employer match.
Your company may contribute thousands of dollars to your 401(k) if you adjust your own contributions slightly. For example, increasing your deferral by $150 per paycheck could unlock an additional $4,000 in employer contributions each year.
Turn your HSA into a long-term wealth tool.
Choosing a high-deductible plan could save you around $1,100 in premiums while giving you access to tax-free investing through a Health Savings Account, which is a powerful way to grow funds for future medical or retirement expenses.
Right-size your insurance coverage.
Adding or adjusting life insurance can strengthen your family’s financial protection for far less than most people expect. In some cases, an additional $500,000 of coverage might cost around $18 per month.
Take the Next Steps
Open enrollment is more than a yearly chore, it’s an opportunity to make decisions that directly impact your financial wellbeing. Schedule time with your advisor to review your options and make sure your benefits are working as hard as you do.
Advisory services offered through NewEdge Advisors, LLC, a registered investment adviser, doing business as Middlebrook Wealth. Securities offered through NewEdge Securities, LLC, Member FINRA/SIPC. NewEdge Advisors, LLC and NewEdge Securities, LLC are wholly owned subsidiaries of NewEdge Capital Group, LLC. Middlebrook Wealth does not provide tax or legal advice. Therefore, it is important to coordinate with your tax or legal advisor regarding your specific situation.
