Open enrollment is the one time each year you can make changes to your benefits without a qualifying life event. In this segment, Carrie Nelson, Ph.D., explains what to expect during your company’s open enrollment period and why it’s important to review any updates to plan pricing or coverage options. She also notes how timing can vary between employers, with many scheduling open enrollment at the end of the year so new rates take effect January 1. Knowing these details helps you plan ahead and make confident choices.
     
 
            
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So, let's talk about that. Once a year,
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your company is required to host an open
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enrollment process where they typically
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tell you of any price or plan changes.
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And it's the one time of year that you
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can make changes without a qualifying
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event. So, you can switch medical plans,
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dental plans, enroll for the first time,
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or leave a plan that you're in. The
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timing of open enrollment varies at each
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company, although it often occurs at the
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end of the calendar year. So price
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changes are effective January 1.