It's that time again... open enrollment season and with it, a lot of decisions to make for the upcoming year. Today, we're going to go over how you can maximize your benefits, especially when it comes to health, dental, and disability insurance!

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 cutting those unnecessary expenses, maybe five or $10 here and using 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 reoccurring winds or 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!

Resources to Save serious Money

Are you looking for more help with maximizing your benefits and saving more money? Here are some resources:

• Best Budget and Money Apps: Personal Capital, Tiller, Zeta, HoneyFi, and Mint
• Grow Your Stash Faster: High Yield Savings with CiT Bank
• Free 401(k) Analysis: blooom
• Jumpstart Your Marriage and Your Money
• Work Pants Finance
• 4 Tips to Make Filing Your Taxes Easier
• How to Find the Best (and Affordable!) Health Insurance Plan for Your Family
• How to Maximize Your Retirement with Your 401(k)s
• 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.

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!

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• 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.
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