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?
Disclaimer: Discover is a paid advertiser of this site.
Reasonable efforts are made to maintain accurate information. See the Discover online credit card application for full terms and conditions on offers and rewards.
Modified on November 11th, 2012 - 4 Comments
Filed under: Insurance, Working
About the author: Nickel 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!
Related articles...
» FSA Limits Reduced for 2013» Should You Use Your Employer’s HSA Custodian?
» Open Enrollment Time
» Flexible Spending Account Spent Out for 2007
» Weekly Roundup – 11/10/06
» Open Enrollment and our Flexible Spending Account
» CitiBank’s Click-to-Pay Service
» Chase Ends Bonus Reward Auto-Enrollment Experiment
Was this article useful? Please sign up to receive our content via e-mail:
4 Responses to “Open Enrollment in Full Swing”
Leave a Reply
Top Cards by Category
Earn 100 Reward Dollars after you make $1,000 in purchases in the first three months of Cardmembership.
Earn 25K Membership Rewards(R) points after you spend $2,000 during your first three months of Card membership.
Consumer friendly credit card with a great low rate of 7.25% and save on interest charges. No balance transfer fees and no annual fee.
The new Discover it card is out to change the way people think about credit cards. No annual fee. No overlimit fee. No foreign transaction fee & no pay-by-phone fee. No late fee on your first late payment. And Discover won't increase your APR for paying late.*
The new Discover it card is out to change the way people think about credit cards. No annual fee. No overlimit fee. No foreign transaction fee & no pay-by-phone fee. No late fee on your first late payment. And Discover won't increase your APR for paying late.*
Consumer friendly credit card with a great low rate of 7.25% and save on interest charges. No balance transfer fees and no annual fee.
Limited Time Offer: Get 25,000 Membership Rewards(R) points after you spend $5,000 in the first three months of Card membership. Enroll and select a qualifying airline to receive up to $200 annually in statement credits for incidental fees, such as checked bags and in-flight refreshments, charged by the airline.
The new Discover it card is out to change the way people think about credit cards. No annual fee. No overlimit fee. No foreign transaction fee & no pay-by-phone fee. No late fee on your first late payment. And Discover won't increase your APR for paying late.*
- How to Become a Millionaire
- How to Get Out of Debt
- The Best Dollars I've Ever Spent
- How Our Estate Plan is Structured
- How We Paid Our Mortgage In Less than 10 Years
- Money Making Ideas
- How to Manage Your Asset Allocation with Multiple Accounts
- Consumption Smoothing - Save While the Saving's Good
- How to Save on Groceries
- How Much Life Insurance Do You Need?
- Eleven Great Books About Money
- Dave Ramsey is Bad at Math
- Dish Network Customer Service SUCKS
- $8,000 Homebuyer Tax Credit
- Pay Off Mortgage Early or Invest?
- How to Claim the First-Time Homebuyer Tax Credit
- Termite Control: Sentricon vs. Termidor
- How Much Should You Pay a Babysitter?
- Ethanol Blended Gas = Lower Mileage?
- Reduced Credit Limits? Share Your Experience
- $15,000 Homebuyer Tax Credit
- Will Mac OS X Lion Kill Quicken 2007?
- Buying Furniture off the Back of a Truck
How to save money on insurance
- How I cut my spending in half to take a job I loved
- Working longer: Fallback or fallacy?
- More money, more happiness: Do you think money can buy happiness?
- Overdraft fees soared to $32 billion in 2012
- How do you combat prom inflation?
- How should you choose a bank? Look in the mirror.
- The cost of clean water
- College debt 101
- Is it possible to live debt free?
- How to prepare for a home appraisal
November 2nd, 2012 at 8:44 pm
Awesome job on maxing out the 401k! — We aren’t quite there yet. Like you, sticking with the HDHP plus maxed out HSA.
November 5th, 2012 at 7:36 am
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.
November 5th, 2012 at 8:51 am
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.
November 5th, 2012 at 10:53 am
- 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.