The federal open enrollment has come to a close for 2018, but that limitation doesn’t affect the HSA. HSAs can be opened by any qualified individual, family, or employer (for employees) anytime. HSAs are not beholden to normal restrictions of healthcare.
Tag: open enrollment
Open enrollment means options. You are given time to compare, review, and select your healthcare plan based on your expected needs. From there, you can add auxiliary benefits and health savings tools, like the HSA, to better optimize your cost and benefits experience.
In the first two weeks of open enrollment, 1.46 million Americans have signed up for individual healthcare through healthcare.gov. That is a 46% increase over the same period last year. Couple that with the traditional employer open enrollment that is happening in offices all across the country and millions upon millions of Americans are reviewing, comparing, and selecting healthcare over the last and next few weeks.
In two previous posts we discussed the “big” elections during open enrollment – health care and retirement savings. While these consume the most pre-tax payroll dollars – and therefore employee mindshare – your employer is likely offering other supplemental and/or elective products during benefit selection season.
Unless you have been living under a rock this week, you know two things. First, open enrollment has arrived for the individual healthcare marketplace (aka Obamacare). Second, and not surprising, healthcare premiums have gotten more expensive, in some cases much more. Without getting into the politics of it all, we want to show you, what you can do today to make healthcare costs less expensive so you can save the most money.
“Am I OK, Will I Be OK?” And Other Questions Open Enrollment Cannot Answer, But May Help
Open enrollment is here. While many see the annual ritual of reviewing current health coverage and studying upcoming benefit changes as yet another chore, multiple research studies, backed up by behavioral theory, suggest something larger is at work. Your choices create a financial wellness generator capable of building long-term security for you and your family.
Effective today, November 1, 2017, healthcare open enrollment for 2018 has arrived! This year, open enrollment for the health insurance marketplace is a bit shorter than in previous years. The good news is, we are here to provide the crucial details you need to get healthcare coverage in 2018.
It’s the busy time of year for all benefits managers and HR experts – like tax season for accountants. As part of that, we wanted to review the goals and considerations of open enrollment and take a new approach to the classic employer problem – balancing increasing benefits costs with value.