5 Mistakes to Avoid During Open Enrollment
Many unique needs. One Price & Ramey.
Open enrollment is your once-a-year chance to make changes to your health insurance and employee benefits. The choices you make now will affect your health, finances, and peace of mind for the next year—so it’s worth slowing down and making thoughtful decisions.
Unfortunately, many people rush through the process, overlook key details, or assume they already know what’s best. To help you get the most out of your benefits, here are five common mistakes to avoid during open enrollment.
1. Waiting Until the Last Minute
Procrastination can leave you scrambling—and mistakes happen when you’re in a rush. By waiting until the deadline is looming, you may miss valuable resources like HR info sessions or online plan comparison tools.
Instead, start early. Review your employer’s materials, jot down questions, and give yourself time to troubleshoot any issues before enrollment closes. Most open enrollment windows last at least two weeks, so use that time wisely.
2. Assuming the Most Expensive Plan Is the Best
It’s easy to believe that pricier plans equal better coverage—but that’s not always true. The right plan depends on your unique health needs and budget.
If you’re generally healthy, a high-premium plan could leave you paying for coverage you rarely use. On the flip side, if you expect frequent doctor visits, prescriptions, or even surgery, a high-deductible plan might not offer enough protection until you meet that deductible.
Before deciding, review last year’s medical expenses and consider any upcoming health needs. Then, weigh premium costs against potential out-of-pocket expenses.
3. Ignoring FSAs and HSAs
Tax-advantaged accounts like Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs) can save you serious money—but they’re often overlooked.
- HSAs (available only with high-deductible health plans) offer triple tax savings: pre-tax contributions, tax-free growth, and tax-free withdrawals for qualified medical expenses. Plus, funds roll over from year to year.
- FSAs also help cover out-of-pocket costs, though unused funds may not roll over (the 2026 rollover limit will be $660).
Learn the rules, check eligibility, and consider whether contributing could ease the sting of future medical bills.
4. Not Learning From Past Mistakes
Last year’s choices hold valuable lessons. Ask yourself:
- Did my plan cover my actual needs?
- Did I spend more than expected on health care?
- Were there coverage gaps that cost me financially?
- Did I skip care because of confusion or cost?
Tracking how you used your benefits can help you avoid repeating mistakes and choose a plan that truly fits your lifestyle.
5. Overlooking Enrollment Errors
Even when you make the right choices, administrative errors happen. In fact, one audit found that 90% of employers had open enrollment mistakes, from incorrect dependent coverage to billing errors.
Once the new plan year starts, fixing these issues can be a headache. Always double-check your elections and confirmation documents for accuracy, and reach out to HR if anything looks off.
Final Thoughts
Open enrollment is more than just paperwork—it’s an opportunity to choose benefits that protect your health and finances for the year ahead. By avoiding these common mistakes, you’ll feel more confident that you’ve made the best decisions for yourself and your family.
If you have questions, don’t hesitate to connect with HR or an insurance professional for guidance.
Price & Ramey is committed to helping you, your family, and your business. For additional risk management guidance, contact us today.
Disclaimer: This article is for informational purposes only and does not constitute legal advice. Employers should consult with legal counsel or safety professionals for specific compliance recommendations.