Benefit election or open enrolment : How to maximize benefits?

SHARE THIS POST

Benefit election or open enrolment time is coming soon. This is when you can make changes to your employer-provided benefits. These benefits are an important part of your financial plan, and you should maximize their effectiveness. 

Changes to some benefits, such as contributions to a retirement plan can be made all through the years, whereas changes to other benefits such as health plans can only be made during open enrollment, unless you have a qualifying event. However, it is a good idea to review all your benefits during open enrollment.

For example:
–    Making sure your employer-provided retirement plan is optimized for your risk tolerance, goals, and diversification needs.
–    Reviewing the effects of adding your spouse or dependents to your employer-sponsored medical insurance.
–    Reviewing your employer-sponsored disability insurance to ensure you’ve funded your emergency reserves to cover your elimination period. 

Whatever the case, it is important to understand the scope of your benefits and how they can (and should) coordinate with your long-term financial plan. 

Here is a checklist that outlines 17 considerations that are fundamental to an employer-provided benefits CLICK HERE

The checklist can help you spot good ways to identify all the different opportunities to consider.

Feel free to reach out if you have any questions or would like to discuss anything.

Thank you for signing up to receive our newsletter!

If you would you like to discuss financial planning with us, please provide your phone number.

Sarsi LLC Logo

Disclaimer

Sarsi, LLC (“Sarsi” or “the firm”) is a registered investment adviser located in New Jersey. Sarsi and its representatives are in compliance with the current registration mandates imposed on state registered investment advisers in those states where registration is required. The firm may also transact business in those states in which it maintains registration or qualifies for a corresponding exemption there from.

Use of this website is limited to the dissemination of general information regarding Sarsi’s investment advisory services offered to individuals residing in those states where providing such information is not prohibited by applicable law. Accordingly, the publication of Sarsi’s website on the internet should not be construed by any consumer as a solicitation or attempt to effect transactions in securities, or the rendering of personalized investment advice. Nothing on this website should be interpreted in any manner whatsoever as a substitute for, or the receipt of, personalized investment advice. Certain of the information contained herein may not be suitable for everyone and may be derived from external sources that are not affiliated with Sarsi. While Sarsi believes these sources to be reputable, the Firm makes no representation or guarantee as to the accuracy, timeliness or suitability, completeness or relevance of the information prepared by any unaffiliated third-party, whether linked to the website or referenced herein. All such information is provided for convenience purposes only and all users therefore should be guided accordingly. Any subsequent, direct communication with a prospective client of the Firm will be initiated by a representative whom is either registered or exempt from registration in the state in which the prospect resides.

Detailed information pertaining to Sarsi’s qualifications, business operations, fee schedule service offerings can be found in the Firm’s Disclosure Brochure which appears as Part 2A of Sarsi’s Form ADV. Additional information about Sarsi, as well as a current version of the Firm’s Disclosure Brochure, is available on the Investment Advisor Public Disclosure website which is operated by the U.S. Securities and Exchange Commission, at www.adviserinfo.sec.gov

ACCESS TO THE FIRM’S WEBSITE IS PROVIDE FOR INFORMATION PURPOSES ONLY AND WITHOUT WARRANTIES-EXPRESS OR IMPLIED-WITH REGARD TO THE ACCURACY, TIMELINESS OR RESULTS OBTAINED FROM ANY INFORMATION POSTED ON THIS WEBSITE OR ANY THIRD-PARTY WEBSITE LINKED HERETO.