Open enrollment season is right around the corner, which means it’s almost time to re-evaluate your current benefits elections. When most people think of insurance, the basics generally come to mind: medical, dental, and maybe vision. But did you know that other insurance options are available as well — and that your employer may offer them?


Do you or one of your family members regularly require prescription medications? If so, how convenient would it be to explain your symptoms to a doctor over the phone and have a prescription sent to your local pharmacy without having to go to the medical office? More and more employers are offering the “dial-a-doc” perk to their staff, so check to see if it’s available for you. The cost you pay each month could be well worth the convenience it affords you.

Legal insurance.

A legal insurance policy can go a long way in helping you manage unexpected issues that involve the court system. In general, legal insurance gives you access to a network of attorneys who specialize in various areas that you can connect with quickly if needed. Some policies will also help pay if you hire an attorney who is outside of their network. Again, plans vary — so if you decide to enroll, make sure you’re clear on how it will work.

Multiple birth/infertility insurance.

These days, more and more couples are turning to modern medicine for help when looking to start a family. That process can come with a hefty price tag, however. You could end up with steep medical bills if you go this route, as many health insurance policies don’t cover fertility treatments or the extra costs that come with multiple babies. If you and your partner are navigating this process and your employer offers this supplemental insurance, it’s worthwhile to explore.

Pet insurance.

If you have a four-legged furry friend in your life, it could be worth looking into pet insurance. This is especially true if he or she is older and/or has medical conditions. It may make sense to pay a premium each month and then owe a smaller co-pay at the vet instead of paying 100% of costs out of pocket each time you have to make the dreaded trip to the pet doctor. Plans vary — you can opt into basic ones that cover general wellness exams and shots or more comprehensive ones that offer “nose-to-tail” coverage. Be sure to check the limitations of your plan, however, because insurance companies can deny coverage to pets with pre-existing conditions.

This open enrollment season, be sure to do your research. Find out the full extent of what your employer offers, and evaluate your current situation to make sure you have optimal insurance coverage to meet your personal needs. Adjusting or adding new insurance policies can help improve your mental, financial and physical well-being.


The information provided is general in nature, is for informational purposes only, and should not be construed as legal or tax advice. Financial Engines does not provide legal or tax advice. Financial Engines cannot guarantee that such information is accurate, complete, or timely. Laws of a particular state or laws which may be applicable to a particular situation may have an impact on the applicability, accuracy, or completeness of such information. Federal and state laws and regulations are complex and are subject to change. Changes in such laws and regulations may have a material impact on pre- and/or after-tax investment results. Financial Engines makes no warranties with regard to such information or results obtained by its use. Financial Engines disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Always consult an attorney or tax professional regarding your specific legal or tax situation.