Don’t Miss Open Enrollment

You can feel it in the air, fall is officially upon us. In addition to football, pumpkin patches and sweater weather, fall is also time for open enrollment. Open enrollment (also known as annual enrollment) is a period of time when individuals may make additions, changes or deletions to their elected employee benefits, individual health insurance, or Medicare coverage. Whether you are working and need to update your benefits package at work, are retired and eligible for Medicare benefits, or are under age 65 and not covered by a group health insurance policy, you should consider your options before the designated open enrollment period begins. Employee Benefits Typically, open enrollment for employee benefits begins in the fall of each year, but the timing will vary slightly from company to company. The specific time period and details for your employer’s plan(s) will be communicated by your HR department, so remember to open and read all communications you receive regarding your group plans. Some companies have made changes to the eligibility requirements for spousal benefits starting in 2014. Be sure to review the Read on! →

Update from The Federal Reserve – Wed. September 18, 2013

Wed. September 18, 2013 Due to an uneven economic climate, Federal Reserve officials decided Wednesday to hold off on discontinuing their easy money policy for the time being. Below is an excerpt from the Fed’s Monetary Policy Press Release detailing the reasons behind Wednesday’s decision. To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the asset purchase program ends and the economic recovery strengthens. In particular, the Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that this exceptionally low range for the federal funds rate will be appropriate at least as long as the unemployment rate remains above 6-1/2 percent, inflation between one and two years ahead is projected to be no more than a half percentage point above the Committee’s 2 percent longer-run goal, and longer-term inflation expectations continue to be well anchored. In determining how long to maintain a highly accommodative stance of Read on! →