Open Enrollment: Aligning Benefits with Your Financial Plan

Open enrollment is a critical time for reviewing and adjusting your employee benefits to align with your broader financial goals. At Copper Beech Wealth Management, we assist our clients in making informed decisions that will benefit them throughout the upcoming year.

Why Open Enrollment Matters

Open enrollment is your annual opportunity to evaluate your employer’s benefits package and make necessary adjustments. While many plan features may roll over, others, like Flexible Spending Accounts (FSAs), require annual updates. Using this time wisely can significantly impact your financial wellbeing.

Key Considerations for Choosing Benefits

When choosing your benefits, consider how each option fits into your comprehensive financial plan. Factors such as health insurance choices, retirement contributions, and life insurance coverage should be tailored to your personal financial goals. Our team is here to help you understand these options and ensure your selections support your future financial security.

FSAs: Update Annually

A critical aspect of open enrollment is updating your Flexible Spending Account. Remember, FSAs must be renewed annually, and funds typically do not roll over year to year. Be sure to calculate your expected medical expenses carefully to make the most of these pre-tax dollars.

For assistance in navigating open enrollment and aligning your benefits with your financial plan, reach out to us at Copper Beech Wealth Management. We're here to support your journey toward financial stability and success.