Personal Disaster Plan: Open Enrollment is the Perfect Time
Jimmy Francis
??Sense-Making, Certainty and Dealing with Complexity??Problem Solver ??? Employee Benefits Specialist at AssuredPartners. ??? Mayor South St. Paul, Minnesota??
Open Enrollment isn’t just about choosing a health plan—it’s an opportunity to take a step back and evaluate your overall financial and personal preparedness. While you’re assigning beneficiaries, selecting health coverage, and making contributions to your HSA or 401(k), consider another critical task:?creating or updating your personal disaster plan.
A personal disaster plan ensures that if the unexpected happens, your loved ones and financial future are protected. If you don’t have one in place, now is the time to get started. Here’s how:
1. Organize Key Documents
Gather important documents and ensure they’re accessible. Include:
Store these in a secure, fireproof, and waterproof safe, and consider digital backups in a secure cloud service.
2. Assign and Update Beneficiaries
Review your beneficiaries for your life insurance, HSA, and retirement accounts. This small but crucial step ensures your assets are distributed according to your wishes.
3. Choose Your Health Plan Wisely
Evaluate your health plan options during Open Enrollment. Look beyond premiums to consider deductibles, out-of-pocket maximums, and whether your preferred doctors and medications are covered.
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4. Build or Boost Your HSA and Emergency Savings
If you have a high-deductible health plan, contributing to your Health Savings Account (HSA) can provide a tax-advantaged way to save for medical expenses. At the same time, ensure your emergency fund can cover 3–6 months of expenses.
5. Communicate Your Plan
Let a trusted family member or friend know where to find your disaster plan and documents. They should also know how to access your safe or digital storage if needed.
6. Review Annually
Just like Open Enrollment, your personal disaster plan should be reviewed and updated every year. Major life changes—like a marriage, birth, or job change—may require adjustments.
Need Help Getting Started?
I specialize in helping individuals and families protect what matters most. Whether you have questions about life insurance, employee benefits, or creating a comprehensive disaster plan, I’m here to help. Let’s work together to make sure you’re prepared for anything life throws your way.
Here’s to a healthy and secure future!
Jimmy Francis 651-321-8348