Are you getting the most out of your University of Michigan benefits?
Do you know enough about your options to make informed decisions?
If you missed our recent webinar, you need to keep reading!
Benefits are fantastic, but they also have fine print that can be tricky to interpret.
With so many benefits available at U of M, it’s easy to feel overwhelmed.
Open enrollment season is the perfect time to review and plan ahead.
Let’s go over a few key points for you to keep in mind as you navigate your options.
Health insurance
As of last year, there’s a new option for high deductible health savings accounts (HDHP). With a lower deductible plan, you can opt for FSAs. You also have numerous choices when it comes to supplements. It’s important to make sure you’re choosing the right plan for your needs!
Retirement plans
While retirement plans aren’t technically part of your open enrollment, this is a crucial time to consider them. For instance– U of M offers a generous 200% match on the first 5% you contribute to your retirement plan. But why stop there? You can save even more through additional options.
Life and disability insurance
These benefits are often overlooked, but reviewing them now can ensure your loved ones are financially protected. You have options to boost your life insurance beyond the basics, as well as long-term disability.
Legal services
Don’t forget about estate planning! If you haven’t set up key documents like a power of attorney or will, U of M’s legal services benefit can help you get started.
I encourage you to carve out time to audit your current benefits, identify areas for improvement, and make any necessary adjustments before the deadline.
We also have more info and a downloadable guide for University of Michigan employees for additional guidance through the decision-making process.
Take a deeper dive with us and watch our full webinar:
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