Your open enrollment checklist

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What to consider during open enrollment

For most people, fall means pumpkin spice lattes and cooler weather. But it also means the start of open enrollment season. It may not be as fun as Halloween or Thanksgiving, but taking the time to review your benefit selections could help you save hundreds or even thousands of dollars on insurance costs.

What is open enrollment?

Open enrollment is when you elect medical and other benefits through your employer. Each employer sets its own open enrollment period, but enrollment generally occurs in the fall so employees’ elections can take effect on Jan. 1. Once this period ends, you generally can’t make changes to your elections unless you have certain life events.

Why is it important to review your election options?

If you’re renewing your coverage through your employer, it may be tempting to simply select whatever you chose last year. However, it’s important to carefully review your elections as the policies, provider and associated costs may have changed. Also, if you’ve had a major life event (such as a marriage, divorce, a new baby or you expect your health care needs will increase or decrease in the coming year), you may want to select a different coverage level from the previous year.

What options are typically available during open enrollment?

While the number of insurance options varies by employer, here are some common options your employer may offer.

How Edward Jones can help

Alongside your other fall traditions, give a little attention to open enrollment to ensure you have the coverage you need to best position you and your family for the year ahead. If you need life or disability insurance beyond what your employer offers, your Edward Jones financial advisor can help you determine how to supplement your workplace benefits with individual policies that meet your family’s needs. 

​​Edward Jones is a licensed insurance producer in all states and Washington, D.C., through Edward D. Jones & Co., L.P. and in California, New Mexico and Massachusetts through Edward Jones Insurance Agency of California, L.L.C.; Edward Jones Insurance Agency of New Mexico, L.L.C.; and Edward Jones Insurance Agency of Massachusetts, L.L.C.