Every year, an email lands in my inbox with the subject line “Open Enrollment Is Here!” and every year I do the same thing: I star it, promise myself I’ll deal with it this weekend, and then ignore it until the day before the deadline. Then I panic-click through a bunch of dropdown menus I barely understand, hoping I haven’t just signed my family up for something terrible.

Sound familiar? Here’s the thing. Open enrollment may be the single most valuable hour of money planning most working moms ever get to do. The choices you make can affect thousands of dollars in medical costs, taxes, and family protection over the next year. And because many workplace benefits are locked in until the next enrollment window (unless you have a qualifying life event), mistakes can stick around.

This year’s enrollment comes with a notable change for parents: the dependent care FSA limit has increased to $7,500 per household ($3,750 for married people filing separately), and employers have to adopt it in their plans. Combine that with higher borrowing costs and tight budgets, and it’s worth doing your homework.

In this guide, I’ll walk you through an open enrollment checklist for moms, with 10 money decisions to review before your deadline. (I’m not a benefits or tax advisor, and every employer’s plans differ. Use this as a conversation starter with your HR team and a professional.)

Before You Start: Gather Your Information

Set aside an hour and collect:

  • Last year’s medical, dental, and vision spending (check your insurer’s portal and receipts)
  • Your family’s expected needs for the next year: planned procedures, pregnancy, braces, therapy, prescriptions
  • Your childcare costs for the year
  • Your spouse’s or partner’s benefit options
  • Your employer’s enrollment guide and deadline
  • Your current benefit elections

Decision 1: Choose the Right Health Plan (Look Beyond the Premium)

The cheapest monthly premium isn’t always the cheapest plan. Compare the total possible cost for your family:

  1. Premium: What comes out of your paycheck all year
  2. Deductible: What you pay before insurance starts sharing costs
  3. Copays and coinsurance: Your share after the deductible
  4. Out-of-pocket maximum: The most you’d pay in a bad year
  5. Network: Are your pediatrician, OB, and specialists in network?
  6. Prescription coverage: Are your family’s medications covered?

A simple worksheet:

  • Expected yearly premium: ___
  • Expected routine care and prescriptions: ___
  • Possible worst-case cost (out-of-pocket max): ___
  • Total range for this plan: ___ to ___

Do this for each plan, then see which fits your family’s likely use and your cash cushion.

Pro tip: If you expect a baby, surgery, or a lot of specialist visits, a plan with a higher premium but a lower deductible may cost less overall. If your family is generally healthy and you have savings, a higher-deductible plan may make sense.

Decision 2: Consider a Health Savings Account (HSA)

If you choose an eligible high-deductible health plan, you may be able to contribute to an HSA, which can offer triple tax advantages when used for qualified medical expenses: money goes in pre-tax, may grow tax-free, and comes out tax-free for qualified costs. Unused funds generally roll over from year to year. Check your plan for eligibility, contribution limits, and any employer contributions, and consider whether you could cover the higher deductible if needed.

Decision 3: Decide on a Health Care FSA

A health care flexible spending account lets you set aside pre-tax money for qualifying medical costs. Rules differ by employer: some plans have limited carryover, some have grace periods, and some money may be forfeited at the end of the plan year. Estimate conservatively using your past spending, and know your plan’s rules before you commit.

Decision 4: Maximize (or Skip) the Dependent Care FSA

This is the big one for moms. As noted, the household limit is now up to $7,500, but your employer must have adopted it, so check your plan’s actual cap.

Key questions:

  • What will we really spend on childcare this year? Count daycare, preschool, before- and after-school care, and summer day camp (not overnight camp) for children under 13.
  • Does my spouse also have access to a dependent care FSA? The limit is per household.
  • Would I come out ahead with the Child and Dependent Care Credit instead? Every FSA dollar reduces the expenses you can use for the credit, so the two overlap. The credit now covers up to 50% of eligible expenses, on up to $3,000 (one child) or $6,000 (two or more), depending on income.
  • Can I submit claims on a schedule that matches my costs?

Higher-income households often benefit more from the FSA, while lower- and middle-income households may get more from the credit. Run both versions or ask a tax pro.

Decision 5: Review Your Retirement Plan and Employer Match

Open enrollment is a good moment to check your 401(k) or similar plan:

  • Are you contributing enough to get the full employer match? That match is part of your pay, so many planners encourage claiming it if your budget allows.
  • Is your contribution automatic? Automation makes saving easier.
  • Does your plan offer a Roth option? Consider the tax trade-offs.
  • Are your beneficiaries current?

Many financial writers advise parents to secure their own retirement saving before heavily funding children’s accounts, since there are no loans for retirement.

Decision 6: Check Life and Disability Insurance

If your family relies on your income, think about what would happen if you couldn’t work.

  • Life insurance: Many employers provide a basic amount. Consider whether it’s enough to cover your family’s needs and whether optional coverage is priced fairly compared with individual policies.
  • Disability insurance: This replaces part of your income if you can’t work due to illness or injury. Check whether coverage is employer-paid or optional, and how much it pays.
  • Both parents: Don’t forget coverage for stay-at-home or part-time parents, whose unpaid work has real replacement costs.

Decision 7: Look at Dental and Vision

Compare costs against your expected needs. Kids’ orthodontics, glasses, and dental work can add up. Check annual maximums, waiting periods, and which providers are in network. A plan might pay for itself if you know you’ll need braces or new glasses.

Decision 8: Explore Voluntary and Extra Benefits

Many employers offer more than they advertise. Ask HR about:

  • Childcare subsidies or backup care programs (and how they interact with the FSA limit)
  • Employer contributions to children’s savings accounts, where offered
  • Student loan repayment assistance
  • Employee assistance programs with free counseling
  • Commuter benefits
  • Legal or identity theft protection
  • Parental leave and lactation support policies

Compare each offering against what you could buy elsewhere before paying extra.

Decision 9: Update Your Dependents, Beneficiaries and Contact Info

A boring but crucial step:

  • Add or remove dependents correctly.
  • Update beneficiary designations on retirement accounts and insurance.
  • Confirm that Social Security numbers and birth dates are accurate.
  • Update your address and emergency contacts.

Mistakes here can cause claim denials or messy situations later.

Decision 10: Coordinate With Your Spouse or Partner

Compare both employers’ options before choosing:

  • Which health plan is better value for the family, and should everyone be on one plan or split coverage?
  • Who has the better FSA or HSA, and who has the better retirement match?
  • How do you coordinate the household dependent care limit?
  • How do your deadlines and qualifying life events line up?

After Enrollment: Don’t Forget These

  • Save your confirmation and screenshots of your choices.
  • Review your first paycheck to make sure deductions match.
  • Set calendar reminders for FSA deadlines and claim submission.
  • Keep receipts for reimbursements and taxes.
  • Know what counts as a qualifying life event (birth, adoption, marriage, divorce, loss of coverage) so you can change elections when you need to.

Common Mistakes to Avoid

  • Choosing a plan by premium alone.
  • Letting the default roll over without checking whether it still fits.
  • Overfunding an FSA and losing the leftover.
  • Missing the deadline. Many employers don’t allow late changes.
  • Forgetting about the spouse’s options.
  • Not asking questions. HR teams and insurers expect them.

Your 60-Minute Open Enrollment Plan

  • Minutes 0-10: Gather last year’s spending and this year’s expected needs.
  • Minutes 10-30: Compare health plans using the worksheet.
  • Minutes 30-40: Decide on HSA and FSA elections and the dependent care FSA amount.
  • Minutes 40-50: Review retirement, life, and disability coverage.
  • Minutes 50-60: Update dependents and beneficiaries, then submit and save your confirmation.

Make Every Benefit Part of a Bigger Plan

Benefits are most powerful when they fit into a bigger money plan: an emergency fund, a debt payoff strategy, retirement savings, and goals for your kids. If you’d like a step-by-step guide made for moms, take a look at my ebook:

The Smart Mom’s Complete Guide to Money

The Smart Mom’s Complete Guide To Money

Trust me, an hour of planning now can save you hundreds, or thousands, later.

Final Thoughts

Open enrollment isn’t glamorous, but it’s one of the best chances you have to protect your family and keep more of your paycheck. Compare plans by total cost, make smart choices with your FSA, HSA, and retirement accounts, check your insurance protection, and coordinate with your partner. Block off an hour, grab a coffee, and take the starred email off your to-do list for good.