Annual open enrollment time is approaching for many companies. This is the time when you can adjust your benefits and make changes to your contributions to your Flexible Spending account. Many companies offer dental insurance, life insurance, and other types of insurance. If you do not enroll in them initially then you have the option to during open enrollment.
Look at how your life has changed in the last year. Did your medical expenses go up? You may want to increase your contributions to your flexible spending account. If you got married or had a child you may want to adjust your life insurance, although your primary insurance policy should not be through your job.
You can also cut back on some types of insurance if you do not think you will need them. For example you may not need vision insurance if you do not currently wear glasses, or you may not need the dental insurance. Just remember that if you cancel a type of insurance you will have waiting period before the coverage kicks in at 100 percent.
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