Choose employee benefits wisely

Everyday Stewardship |

Decide if changes are in your best interest

Once per year, I get an email from my human resources department with forms for “annual open enrollment.” As it is in many organizations, my open enrollment period falls in the last few months of the year – in the middle of the holiday season when my work and personal life can get hectic. I’m tempted to ignore it, or rush through it just to get it off of my desk.

It would be a mistake for me to do this, and it could be for you as well.

Open enrollment is the time of the year when you can make changes in the benefits you receive from your employer. You may not realize that after open enrollment ends, you likely can’t make changes until the next sign-up period – a year from now! A wrong decision – or no decision – could hurt you financially and cannot be immediately fixed.

When you receive your employee benefits open enrollment information, ask yourself:
•Am I anticipating additional medical expenses? If yes, consider increasing amounts in your health savings account or flexible savings plan, both of which can help you save on taxes.
•Could we have dental or vision expenses that insurance might help pay?
•What would we do if a family breadwinner couldn’t work? Should we consider disability insurance?
•Could we put a few more dollars toward our retirement savings plan?

Don’t just cruise through this open enrollment process this year. Take time to consider your financial needs for the upcoming year.

Michael Whiteman is a Financial Advisor in the Everence office in Lancaster, Pennsylvania.

Michael Whiteman headshot


Michael Whiteman
Financial Advisor

How we help

Your workplace benefits are important tools in reaching your financial goals, and your financial advisor can give you guidance in maximizing their impact.

Everence also offers a range of employee benefits services to employers. If your organization is reconsidering your benefits programs, learn more about our services. 


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Advisory services offered through Everence Trust Company and Investment Advisors, a division of ProEquities Inc., Registered Investment Advisors. Securities offered through ProEquities Inc., a registered broker-dealer, member FINRA and SIPC. Investments are not NCUA or otherwise federally insured, may involve loss of principal and have no credit union guarantee. Everence entities are independent from ProEquities Inc.