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?
– 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. 🙂
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.
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.
Awesome job on maxing out the 401k! — We aren’t quite there yet. Like you, sticking with the HDHP plus maxed out HSA.