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It's that time again… open enrollment season and with it, a lot of financial decisions to make for the upcoming year.
Learn how you can maximize your benefits, especially when it comes to choosing an affordable health insurance plan!
Choosing Your Health Insurance, Dental, and Disability
If there's one area of finances where families have a hard time -either they're not maximizing or they misunderstand it- it's open enrollment season. It's that time of year where HR sends you a packet of information about your benefits.
One of the big things that I want families to focus on- especially busy ones- is going for the big wins.
Yes. It is beneficial to get better financial habits and cut those unnecessary expenses, maybe five or $10 here and use that money towards more impactful family and financial goals.
But going for the big wins means that for a little bit of time and effort, you can have recurring wins and see a significant drop in your expenses or increase your savings.
This is where open enrollment fits in.
For this limited window that you get this information, you're going to be making some significant financial decisions for the upcoming year.
The biggest one for most families, health insurance. What makes us extra challenging is we're doing this in the midst of still dealing with COVID.
All this week and next, I want to make things easier for you so that you can focus on the key discussions you need to have so you can make the best choices for your family's particular needs.
I'll be releasing on the site previous episodes where I've talked with certified financial planners about the ins and outs and details about your options.
Today we're going to focus more on a Q and A style approach based on your feedback, along with what I'm seeing on my side with Google search in the community chat, I'm going to go over those questions that families often have as they're sorting through the paperwork.
Our focus today will be on:
- weighing the pros and cons of health insurance plans
- why disability insurance doesn't get the credit it deserves
- how tax advantage accounts like HSAs and FSAs can help you save a significant amount of money
Are you ready?
Let's get started!
Handy Tools to Manage Your Money More Easily
- Best Budget and Money Apps for Couples: Personal Capital, Tiller, and Zeta
- Grab Your Copy: Jumpstart Your Marriage and Your Money
- Free 401(k) Analysis: blooom
- Join Our Thriving Families Community on Facebook
- Connect with CFP Matt Miner
- Matt's Podcast: Work Pants Finance
- Making the Most of Your Workplace Benefits
- Insurance Coverage Families Needs with Matt Becker
Thank You to Our Sponsor Coastal!
Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.
We’ve been Coastal members for a few years have been happy with their services.
Did you know that Coastal offers a Health Savings Account? If you have a high deductible health plan, you need to take advantage of an HSA.
Find out more about what Coastal offers here!
Support the Podcast!
Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.
- Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
- Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
- Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!