Open enrollment is an annual opportunity for employees to update their benefits. Benefits needs can change over time, and selecting the right benefits is critical for your financial well-being and work-life balance. Benefit offerings also change, making understanding current offerings that much more important.
Human resources departments are prepared to discuss each year's benefits packages and help employees make good decisions during open enrollment. Employees should consult with their human resources departments to ensure they get the most out of their benefits packages.
# Why it's Important to Ask the Right Questions
Employees must ask the right questions to understand the available benefit options and make good choices during [open enrollment](https://employers.workingadvantage.com/blog-content?item_id=96d55e23-2ca4-451d-b7e4-101972d081d9). Without a thorough knowledge of each option, employees can't make the comparisons necessary to select benefits that meet their needs.
## Top Questions to Ask HR Before Choosing Benefits
Here are some of the critical questions employees should ask when selecting benefits.
- What is covered under the health insurance plan? Does it cover telemedicine? If the plan provides more coverage for in-network providers, is my current provider in-network?
- How does smoking affect my benefits?
- How much will I pay in premiums, deductibles, and out-of-pocket costs? Companies may offer more than one health insurance plan. In this case, employees should compare the costs and coverage of each plan.
- What has changed with the health insurance plan from previous years?
- Can I contribute to an HSA or FSA, and how do they work? Both plans allow you to pay for health-related expenses not covered by your plan with pre-tax dollars. However, they are slightly different.
- What are my retirement savings options, and does the company match contributions? [Matching contributions](https://www.fidelity.com/learning-center/smart-money/average-401k-match) are an excellent benefit that can help your retirement savings grow rapidly.
- What mental health services are included?
- How do I maximize my voluntary benefits, such as a benefits package, life insurance, or disability coverage? Voluntary benefits are those offered to you that you can choose to take or not.
- What wellness programs are available, and how do I access them?
- What other programs, like employee discount programs, can I use to personalize my benefits package? [Employee discount programs](https://www.workingadvantage.com/employer) can help stretch your paycheck by providing travel, tickets, appliances, and other items at a reduced price.
## How to Prioritize Your Benefits Based on Your Personal Needs
Once you understand the benefit options, you must prioritize them based on your personal and family situation. You should consider your family size, health and wellness needs, and financial goals, for example.
Questions to ask yourself include:
- How many family members do I need health insurance for?
- Do they or I have any pre-existing health conditions or substantial risk factors for particular conditions?
- What is our financial focus? Paying down debt, saving for a home, or planning retirement?
- What stage of life am I in? Single, just starting a family, or approaching retirement.
- [Is my life different today](https://www.meetbreeze.com/blog/questions-to-ask-during-open-enrollment/) than it was last year?
Once you've answered these questions, decide what core benefits are critical and what voluntary benefits align with your specific goals. Compare the costs of the voluntary benefits with the savings or peace of mind they will provide to decide which to choose. One way to make a good comparison is by using a chart that outlines your needs, the options, the benefits you would receive, and the costs.
What to Do If Your Questions Aren't Answered Clearly
Making educated decisions during open enrollment is critical because you cannot update your benefits for a year, unless a major life event occurs. The human resources department should answer all your questions clearly and accurately. Also, they should have resources available to help you.
- The company will likely have printed and online benefit materials, so look them over carefully.
- Look for phone numbers of representatives from the benefit providers and call them with questions.
- Attend informational sessions about the benefits.
- Consult a financial adviser to help you align your benefits with your needs and goals.
## Key Takeaways
Employee benefits and needs may change over time. During the open enrollment period, every employee should carefully consider their own and their family's needs and review the benefits package offered.
Asking specific questions about each benefit can help you clarify which benefits you need. You can consult other resources if the human resources department cannot answer your questions. Open enrollment packets, the provider, information packets, and financial advisers can be excellent resources to help you navigate the open enrollment process.
Many companies supplement their benefits with discount programs. Working Advantage is the leading [corporate discount program](https://employers.workingadvantage.com/blog-content?item_id=04b38cac-4a1d-4f3a-b510-079f4e890266). Employers: Join more than 40,000 employers who enhance employee engagement through the [discount program](https://www.workingadvantage.com/employer). Talk with [Working Advantage](https://www.workingadvantage.com/employer) today.
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