Open enrollment time is near. Get ready to make decisions about many of the employee benefits you'll have next year.

Be sure to carefully review any materials your employer provides to help you make your open enrollment elections. In the meantime, you can turn to EY Navigate™ for guidance on managing your overall financial wellness into next year and beyond.

The COVID-19 pandemic may render the choices you make in this fall's open enrollment especially critical. For example, maybe someone in your family expects to have lingering, coronavirus-related health issues next year. Or you and your doctor may have decided that you should put off elective surgery or medical tests until next year because of virus-related safety concerns. In light of considerations like these, which health plan elections might be best for yourself and your family in 2021? Should you use a health care flexible spending account next year? Also, the pandemic may have you thinking you should have more long-term disability insurance or life insurance through your benefits program.

Decisions like these call for mindful planning every year around this time. But for many of us, the pandemic has had real consequences for our daily lives and our physical and financial well-being. Be sure to factor any such consequences into your decisions about the types and levels of protection you'll have next year from your benefit plans.

This material is provided solely for educational purposes; it does not take into account any specific individual facts and circumstances. It is not intended, and should not be relied upon, as tax, accounting, or legal advice.