Annual “Open Enrollment” selections, elections and options are typically around October and November of every year. Most employees carryover the same options year after year, sometimes this is a big mistake, they’re leaving money on the table and that is not how the game is played. Much like you would review every line of tax deductions for expenses and credits at tax time, the same should be done to ensure annual elections are “optimized”. Everyone wants to get the most for their money, with that in mind making a decision for the entire year can be tricky. It’s necessary to consider everything from frequency doctor visits, dental visits, eye care, prescriptions, relocating or even if you don’t go to the doctor much more than preventative care and checkups here and there.
Consider everything from possible savings by reducing coverage, adding life insurance amounts, and of course the possible tax advantages of an FSA or HSA to help offset those wonderful co-pays and deductibles. I always wondered who came up with the “co-pay”, like really, a $10. co-pay?!?! Why? It’s always been a pain to make sure you have $10. or $15. in my pocket just for the co-pay!
Life Insurance Essential Interview with Kissy Ariza, Life Insurance Rep.
I met with Kissy Ariza, a very personable and knowledgeable, high energy local NY area life insurance representative to ask some popular questions about getting life insurance. Many folks already understand the importance of having life insurance of some kind, somewhere with some company. Most of us even remember the “insurance man” who used to come around from time to time, and our parents bought whatever policies they could afford. Not so much in our busy lives today. Hence, there are a lot of misgivings and out right un-truths out there about insurance. One thing however is for sure, a good ironclad policy is a key part of any good personal financial planning.
Kissy Ariza was able to dispel some common misconceptions, verify some known truths and even offer some serious take away information. In this interview she gave some invaluable points that make it easy to understand why life insurance is such a big deal and necessary part of your finance arsenal.