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Open Enrollment in Full Swing

Written by Nickel - 4 Comments

Open Enrollment in Full Swing

I’m not sure about you, but my employer’s open enrollment period is in full swing. In fact, there’s just over a week remaining for those that want to change their elections.

I’m not sure about you, but we’re not changing anything — at least not in terms of our health insurance. We will, however, ratchet up our retirement savings in lock-step with the contribution limit increases.

This means that we’ll be sticking with our high-deductible health plan and associated HSA for another year (at the new limit of $6450/year for a family).

As for the retirement accounts, this isn’t strictly tied to open enrollment, but we’ll be increasing our contributions to expected new 401(k)/403(b) limit of $17,500/year. Note that if you’re 50 or older, you’ll actually be able to sock away $23k in 2013.

Oh, and if you use a healthcare FSA (which we don’t), then keep in mind that the limits for 2013 are decreasing to an absolute max of $2500/year.

What about you? Are you planning on making any big changes during open enrollment?

Published on November 1st, 2012
Modified on November 11th, 2012 - 4 Comments
Filed under: Insurance, Working

About the author: is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!

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4 Responses to “Open Enrollment in Full Swing”

  1. 1
    BG Says:

    Awesome job on maxing out the 401k! — We aren’t quite there yet. Like you, sticking with the HDHP plus maxed out HSA.

  2. 2
    Rohit @ The Money Mail Says:

    Round about the same time for many companies in east coast. If you miss the enrollment period the HR gives you a really hard time to make any changes. So do it now if you have to.

  3. 3
    Don Says:

    We’re only making one small change this year. I’m already maxed out on my 401k but we’re bumping my wife’s up to max it out. My company has kick-ass health insurance, so no need for us to do anything different in that respect.

  4. 4
    Peter Says:

    - Switching over to my wife’s health insurance – her employer’s best PPO plan has lower premiums than my company’s crappy new high-deductible plans.

    - Bumping up my 401k to the new max.

    - Buying extra PTO. :)

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