Open Enrollment Checklist: 6 Benefits Choices to Recheck
Six workplace benefits choices that quietly reset or roll over each year, and how to check all of them in about an hour.
This article is educational information only, not personalized financial advice. Nusafa and its authors are not licensed financial advisors, and nothing here should be read as a recommendation to buy, sell, or hold any specific investment. Read our full disclosure policy.
Open enrollment is the one window each year when you can change most workplace benefits without a major life event. Most people click "keep my current elections" and move on.
That default can cost real money. Some choices reset to zero, and others renew even when your life has changed. Here are the six worth a second look before your window closes.
Key takeaways
- Compare health plans on total yearly cost, not the paycheck premium.
- A health FSA usually has to be elected again every year. It does not carry forward on its own.
- Update your beneficiaries while you are logged in. It takes five minutes.
The six choices to recheck
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Compare plans on total cost, not premium. The premium is only the entry fee. Add each plan's yearly premium to what you would likely pay out of pocket. Say Plan A costs $1,200 a year with a $3,000 deductible, and Plan B costs $2,400 with a $500 deductible. In a light year with $300 of care, Plan A totals about $1,500 and Plan B about $2,700. In a heavy year, the gap shrinks or flips. Price both a light year and a heavy year before you choose.
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Confirm your doctors and prescriptions are still covered. Networks and drug lists (called formularies) can change from one year to the next. Search the plan's provider directory for every doctor you see, and look up every prescription you take. Directories are not always current, so call your main doctor's office to confirm.
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Set your HSA contribution for 2027. If you pick a high deductible plan that qualifies for a health savings account, the IRS limits for 2027 are $4,500 for self only coverage and $9,000 for family coverage. If you are 55 or older, you can add $1,000 more. Employer contributions count toward the limit, so subtract those first. Unlike an FSA, HSA money stays yours year after year, which is why some people treat it as a backup to their emergency fund.
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Elect your health FSA again. A health FSA election generally covers one plan year. Skip this step and you may start next year at $0. FSAs are mostly use it or lose it: a plan can allow a small carryover or a short grace period, but not both. The 2026 limit is $3,400, and the IRS usually announces the next year's limit in the fall, so check your enrollment portal for the current number. Elect only costs you can predict, like glasses, regular prescriptions, or dental work already on the calendar.
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Check the dependent care FSA if you pay for childcare. Starting in 2026, the yearly limit rose to $7,500 per household ($3,750 if married filing separately), up from $5,000. It lets you pay for daycare, preschool, or after school care for a child under 13 with pretax dollars. The child and dependent care tax credit is a separate benefit with its own rules, so compare the two or ask a tax professional which works better for your family.
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Review life insurance, disability, and beneficiaries. Look at how much life and disability coverage your employer gives you for free before paying for extra. Group coverage often ends or changes when you leave the job, so do not count on it as your only protection. Then open the beneficiary page. In many cases the name on that form decides who gets the money, even if your will says something different.
Your checklist for this week
- ☐ Find your enrollment deadline and put it on your calendar two days early.
- ☐ Download last year's claims and pharmacy history from your insurer's app.
- ☐ Price a light year and a heavy year for each health plan you can choose.
- ☐ Enter your FSA or HSA amount again, even if it matches last year.
- ☐ Confirm every beneficiary name is current.
The takeaway
Open enrollment pays off less from any single choice and more from not letting defaults choose for you. When the new paycheck deductions start in January, fold them into your monthly budget so the change does not surprise you.
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This is general education, not personalized financial advice.
