By Brandon Miller –
It’s that time of year again—when your inbox fills up with HR reminders and healthcare acronyms start flying. Open enrollment might not sound like the highlight of fall, but it’s actually one of the most important windows for your financial life. Think of it as your once-a-year reset button: a chance to fine-tune benefits, capture savings, and align your choices with your long-term goals.
If you ignore it? You risk leaving money on the table, missing tax breaks, or being underprotected when life throws curveballs.
What’s the Deal With Timing?
ACA Marketplace Plans: Open enrollment for 2026 will run from November 1, 2025–January 15, 2026. Enroll by December 15 for coverage starting January 1; wait until January and you’ll start February 1.
Employer-Sponsored Health Plans: There is no single date, but most companies open their window in October or November for a January 1 refresh. Typically, you’ll have 2–4 weeks to review and make elections. That’s not much time, so planning ahead is key.
How to View It Through a Financial Lens
Your benefits don’t live in a vacuum. They tie directly into your bigger picture.
Health & Wealth Balance: Weigh lower premiums versus higher deductibles based on your health needs.
Tax Strategy: Max out pre-tax opportunities like HSAs, FSAs, and retirement accounts.
Life Stage Fit: A single twenty-something has different needs than a parent juggling childcare or someone nearing retirement.
Hot Spots to Revisit Each Year
Health Coverage
Pay attention to premiums, deductibles, and out-of-pocket maximums.
Check if your doctors and prescriptions are still covered.
Consider switching from a PPO to a high-deductible + HSA, if that makes sense for your situation.
HSAs & FSAs
2025 HSA limits: $4,300 individual/$8,650 family (+$1,000 catch-up).
2025 FSA limits: $3,200 healthcare/$5,000 dependent care.
HSAs are portable, investable, and triple-tax-advantaged. FSAs? Use it or lose it.
Retirement Contributions
2025 limits: $23,000 (under 50)/$30,500 (50+)/$11,250 (60–63).
At least capture your full employer match—free money!
Small raises? Boost contributions by 1–2%.
You can make adjustments to contributions at any point throughout the year.
Insurance & Protection
Employer life insurance often caps at 1–2x salary, which may not be enough.
Disability insurance typically covers 50–60% of income. Private policies can fill gaps.
Supplemental options (accident, critical illness, LTC) depend on your situation. You may be able to purchase additional life and LTD through your employer.
Extra Benefits
These can include stock purchase plans, tuition assistance, wellness perks, or caregiver support.
There can also be commuter benefits, which are typically pre-tax.
Don’t overlook “small” benefits; gym reimbursements, therapy, or legal services can add up.
Major Life Changes
Marriage, divorce, new child, elder care responsibilities, or retirement on the horizon? Those all call for beneficiary updates and benefit tweaks.
Open Enrollment Checklist
Before you hit “submit” on your elections, run through this list:
1. Review health plan costs & coverage.
2. Update HSA/FSA contributions.
3. Adjust retirement contributions.
4. Revisit life & disability insurance.
5. Confirm beneficiaries.
6. Consider the tax impact of elections.
7. Leverage stock, wellness, and other perks.
Open enrollment isn’t just paperwork—it’s financial planning in disguise. This brief annual window gives you the chance to protect your health, grow your wealth, and set up the year ahead with confidence. Take it seriously, make choices intentionally, and you’ll thank yourself later.
This material presented by Brio Financial Group (“Brio”) is for informational purposes only and is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation of any particular security, strategy, or investment product. Facts presented have been obtained from sources believed to be reliable, however Brio cannot guarantee the accuracy or completeness of such information, and certain information presented here may have been condensed or summarized from its original source. This information may contain certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance, and actual results or developments may differ materially from those discussed. No investor should assume future performance will be profitable or equal the previous reflected performance. Any reference to an index is included for illustrative purposes only, as an index is not a security in which an investment can be made. They are unmanaged vehicles that serve as market indicators and do not account for the deduction of management fees and/or transaction costs generally associated with investable products. The S&P 500 Total Return Index represents U.S. stock returns. This includes 500 leading companies in the U.S. and is widely regarded as the best single gauge of large-cap U.S. equities, where dividends are reinvested. The holdings and performance of Brio client accounts may vary widely from those of the presented indices. Brio does not provide legal or tax advice, and nothing contained in these materials should be taken as legal or tax advice. Advisory services are only offered to clients or prospective clients where Brio and its representatives are properly licensed or exempt from licensure. No advice may be rendered by Brio Financial Group unless a client service agreement is in place.
Brandon Miller, CFP®, is a financial consultant at Brio Financial Group in San Francisco, specializing in helping LGBT individuals and families plan and achieve their financial goals. For more information: https://www.briofg.com/
Money Matters
Published on September 25, 2025
Recent Comments