October 4, 2025

Open Enrollment from HR Professionals

☑ LMY VERIFIED

The LMY Blog is now a summary of LMY Podcast episodes, commonly known as 'show notes’. This post will highlight the episode guests and their key tips and takeaways. To listen to the full episode and others, visit our podcast via the link down below.^* 

 

Featuring Megan Kelly, BCU HR Talent Acquisition & Benefits Senior Director, and Safaa Syed, BCU HR Benefits Senior Manager (0:52), on questions to ask yourself as you approach open enrollment, the differences between HSA and FSA to help uncover the best coverage for you and your family, and other benefit plan tips.

It's that time of year, again! Open enrollment (that one time of year you can make changes to your benefit plan) is upon us and people are reviewing their plans to see what needs to change. “I think you really need to think about how your coverage has worked for you the past year ... rethink those things so you can make a better choice for this upcoming year”, Safaa explains. 

The main thing to consider is if any major life-changing events are in the schedule for the next year; Common questions to ask yourself include:

•  Do I have children who will age out of their health plans (turn 26) during the coverage year?
• Am I seeing the specialists I need to see, or may need to see, in the upcoming coverage year?
• Can I sacrifice a level of coverage for lower monthly premiums?
• Am I up to date on their dental and vision appointments?
• Am I expecting to welcome a new family member during the coverage year, whether by birth or adoption?

These questions will help you decide what needs to change to maximize your benefit options for the upcoming year. Now let’s get into the differences between HSA and FSA:

‘HSA’ aka health savings account: You must be enrolled in a high-deductible health plan to have this plan. This is a long-term spending account. Wherever you go, it goes – even in retirement!
‘FSA’ aka flexible spending account: There is no limit on what plan you need to be enrolled in to have this plan. This is a short-term spending account. The organization owns this account.

Know the difference between passive and active open enrollment and which your organization practices. In a passive enrollment, coverage will rollover – you don’t have to go in and re-select your coverage. Active open enrollment means you must go in every year and re-select coverage to have coverage. Failure to do this could leave you without coverage for that year. “Watch your deadlines, I can’t say it enough ... start early and ask questions,” says Megan. Important: Elections in spending accounts will never rollover, passive or active open enrollment, so be sure to log in and re-select those before your open enrollment deadline.

“Ultimately, the plan you choose is entirely dependent on the medical plan you are enrolled in", Safaa continues. However, there are a lot of opportunities between the two options to help you maximize your benefit coverage according to your specific situation. Talk to an HR professional at your organization to learn more about your options and what’s best for you.

Listen to this episode now.

 

 Featuring Megan Kelly and Safaa Syed |  Edited by: Dani Buschick 

 

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