Your Guide to Open Enrollment: 2021 Edition
Our tips for those signing up for employer-provided benefits.
Ah, fall. Leaves change color. Cozy sweaters make a comeback. And people across the country line up for pumpkin spice lattes.
Fall is also the time for open enrollment. Those with employer-provided benefits need to make decisions about their healthcare coverage (and other elections, such as vision and dental insurance) for the coming year.
Many simply take the path of least resistance: They’ll roll over their existing benefits from one year to the next. But that may be a mistake.
“Your employer's menu may change from year to year, and so might your own needs,” reminds Morningstar director of personal finance Christine Benz. For instance, your employer may’ve added a high-deductible healthcare plan with a health savings account as an option, which might provide you with a cost-savings opportunity. Or perhaps the vision insurance you've normally glossed over is now more appealing since two of your kids started wearing glasses this year.
We’ve created this guide to help you evaluate your healthcare and other coverage for the coming year.
A Checklist for Open Enrollment Season
If you're signing up for employer-provided benefits, don't just re-up for last year's choices; read this first.
Should Spouses Obtain Separate Healthcare Insurance?
With more employers levying spousal surcharges, obtaining coverage on a single plan isn’t necessarily the most cost-effective for dual-earning couples.
What Is an HSA?
All you need to know about this popular account used to cover healthcare expenses.
The Top HSA Providers of 2020
Fidelity continues to stand out as the best HSA for investing and for spending.
It's Open Enrollment Season. Have You Taken a Good Look at an HSA?
For high-income investors who are maxing out other tax-sheltered accounts, the high-deductible healthcare plan/HSA combo is close to a no-brainer.
Can You Save Too Much in a Health Savings Account?
Even savers whose assets exceed their healthcare outlays have some escape hatches.
Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.
We’d like to share more about how we work and what drives our day-to-day business.
We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.
How we use your information depends on the product and service that you use and your relationship with us. We may use it to:
To learn more about how we handle and protect your data, visit our privacy center.
Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.
To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.
Read our editorial policy to learn more about our process.