Open enrolment can feel like a routine task, especially if your benefits package looks similar year after year. However, a closer look often reveals important changes that could impact your healthcare costs, coverage, and financial planning. Insurance carriers regularly adjust plan pricing, employers refine benefits based on employee feedback and utilization trends, and annual IRS updates may affect how much you can contribute to tax-advantaged accounts.
As a result, the plan that worked well for you last year may not be the best fit for the year ahead. Taking time to review your options carefully can help you avoid unexpected costs and ensure your benefits continue to meet your needs. Here are some of the most important changes to watch for during this open enrollment season.
1. Changes to Premiums and Deductibles
When reviewing your benefits, start with the basics: premiums and deductibles. These costs often change from year to year and can significantly affect your healthcare spending.
Pay close attention to:
- Monthly premium increases or decreases
- Annual deductible changes
- Copay and coinsurance adjustments
- Out-of-pocket maximum updates
- Provider network changes
While a plan with a lower premium may seem attractive, it could come with higher deductibles or out-of-pocket expenses. If you anticipate regular doctor visits, ongoing prescriptions, or medical procedures in the coming year, evaluate the total cost of coverage rather than focusing solely on paycheck deductions.
2. Updated HSA and FSA Contribution Limits
Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) remain valuable tools for managing healthcare expenses while reducing taxable income. Because contribution limits can change annually, it is important to review your elections instead of automatically selecting the same amount as last year.
Consider:
- Whether contribution limits have increased
- If your medical plan remains HSA-eligible
- Opportunities to increase tax-advantaged savings
- Available carryover provisions for FSAs
- Changes to dependent care FSA limits
Even a small increase in contribution limits can create additional opportunities to save for current or future healthcare expenses.
3. New Voluntary Benefits
Many employers are expanding their benefits offerings with optional, employee-paid coverage designed to address a wider range of needs. These voluntary benefits can provide valuable financial protection and support beyond traditional medical coverage.
New or expanded offerings may include:
- Accident insurance
- Critical illness coverage
- Hospital indemnity plans
- Legal assistance programs
- Identity theft protection
- Pet insurance
- Financial wellness resources
- Student loan assistance programs
While some benefits may not seem relevant today, reviewing them carefully can help you identify options that could provide meaningful protection during unexpected life events.
4. Benefits That Have Changed or Disappeared
Just as new benefits are introduced, others may be modified or removed. This can be easy to overlook if you’re accustomed to selecting the same coverage each year.
Watch for:
- Discontinued plan options
- Changes in insurance carriers
- Updates to covered services
- Grandfathering provisions for existing participants
- New eligibility requirements
If a familiar plan or benefit is missing, contact your HR or benefits team to understand what has changed and whether an alternative option is available.
5. Smaller Updates That Can Have a Big Impact
Some of the most important changes are not always highlighted in enrollment materials. Taking a few extra minutes to review the details can help you avoid surprises later.
Look for updates related to:
- Wellness Programs: Employers frequently adjust wellness incentives, rewards structures, and premium discounts tied to participation.
- Mental Health Resources: Many organizations continue to expand access to mental health services, counseling programs, and virtual care options.
- Dependent Eligibility Requirements: Some employers periodically conduct dependent eligibility audits that require documentation verifying spouse or dependent eligibility.
- Telehealth Services: Coverage for virtual healthcare visits may continue to evolve, including changes to providers, costs, or access points.
- Make Open Enrollment a Review, Not a Routine: The best approach to open enrollment is to treat it as a fresh evaluation rather than a yearly checkbox. Comparing current plan offerings to last year’s elections can help you identify cost increases, coverage enhancements, and new opportunities to maximize your benefits.
Before making your selections:
✅ Review all plan materials carefully
✅ Compare total costs, not just premiums
✅ Verify provider network participation
✅ Reassess HSA and FSA contributions
✅ Explore new voluntary benefits
✅ Confirm dependent and beneficiary information
A few minutes spent reviewing your options today can help you avoid unexpected costs and ensure you enter the new plan year with coverage that supports both your health and financial well-being. If you have questions, reach out to your HR or benefits team before the enrollment deadline, when changes are easiest to address.
