Jean Chatzky
Typically once a year, your employer allows you to make changes to your healthcare and retirement benefits during an open enrollment period. Jean talks with Craig Johnson, a benefits consultant with Mercer Human Resources Consulting, about the importance of understanding your benefits and making sure you sign up for coverage and plans that work for you.

Whether you are healthy, suffer from a chronic illness or have children who require frequent medical attention, Craig says there may be benefit options available to better suit your medical needs. "Try to understand what kind of healthcare user you are," he says. "Understand your costs and pick your plan carefully—you will do yourself a big service [doing it then] rather than when it is too late to make a change during the middle of the year," he says.

Craig says everyone should spend at least an hour looking at the current benefit packages available to them during open enrollment. He says that understanding healthcare benefits can be confusing, but your local human resources department or insurance provider should be available to help you with questions.
The information provided here is general advice and you should always consult your own financial adviser before making major financial decisions, including investments or changes to your portfolio. The opinions expressed by the hosts, guests and callers to Oprah Radio are strictly their own.

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