What is Open Enrollment and why is it Important?
What is Open Enrollment & Why is it Important?
When you start a new job, you do a LOT of paperwork. Taxes, benefits and plenty of signatures. All too often, when it comes to benefits (medical, dental, retirement), most people “set it and forget it.”
It’s important to make updates to your benefits as time passes and your life situation changes.
Open enrollment gives you a chance to change other insurance coverage or opt-in to programs that can save you money. Most of the time, you can only make these changes if you experience a major life event like marriage, divorce, or the birth of a child.
Open enrollment typically happens in June and December each year.
Think of open enrollment like a grace period that allows you to make changes mid-year. In other words…open enrollment is the best time to adjust your benefits so they are the best fit for you!
If you have questions about open enrollment, contact Human Resources.
One final tip: You can always update your address and beneficiaries, no matter the time of year.
Pathfinder Questions:
- What questions should you ask your family now to plan for open enrollment?
- Do you have the medical coverage you need? Could you use prescription eye glasses?
- Do you need disability or supplemental insurance coverage?
- What is the best way to connect with Human Resources for more details?
