Michelle Andrews of CNNMoney.com provides five important things to know about open enrollment trends this year.
Here are a few:
-- More options for family coverage. Outside of the basic selections such as individual or full family coverage, many employers will be offering “employee plus spouse” and “employee plus children,” Andrews reports.
-- Information about your coverage may be easier to understand. This year’s info packet will include simple, consistent summaries of coverage and costs, as required under the 2010 health reform law.
College Can Wait
For last week’s Color of Money question, I asked: “What do you think of high school graduates taking a year off before going to college?”
Here are some of your comments.
“I believe gap years are a wonderful idea,” wrote Ali Kaplan of Austin, Tex. “I would have benefited from seeing a bit of the world or having a job instead of going straight off to college. A gap year is similar to military or civil service in that it allows young people the chance to experience something completely different and grow up a little. During that time, they might develop a clearer picture of what they want out of life or a career, and it certainly gives their brains something to focus on other than academics.”
Cyndi Gacoste of San Diego said that a gap year gives high school graduates a chance to figure out what they want to do in life. She wrote: “They can get a job or volunteer somewhere, and gain valuable work skills other than studying books. These students have been in school for most of their lives without having an idea what life is like outside of the classroom. A gap year will give them the chance to explore other things that a classroom setting isn’t able to offer. Perhaps, they might discover that their dream career may not require a college degree. For those who would still want to attend college, after taking a gap year, they will enter the school knowing what they want to get out of their education.”
Elise Hoffman of Haverhill, Mass., shared her gap year story: “In June 1975, I graduated high school and did not attend college until the fall of 1976,” Hoffman said. “Taking a year off between high school and college in the 1970’s was not what most people did but it was the right thing for me for many reasons. I came from an upper middle class family and I partied hard from the age of 15 to high school graduation. Clearly, I needed to mature and see college for the gift it was and my experiences during the break provided that to me. I was a cocktail waitress in a rock ’n’ roll bar with real saloon doors (fun!). I worked on an assembly line on tiny electronic parts in a factory (so not fun) and at a Burger King (it was ok). I am very grateful to my parents and for the year break; it served to make me cherish my college experience. So, I think that kids should take the time they need and it will serve them well.”
Upcoming Events
--On Saturday, Oct. 27, I’ll be speaking in Detroit at Triumph Church. My keynote is part of a day of free financial workshops open to the public. The theme for the event, scheduled from 8 a.m. to noon, is “If Money Is The Key, Why Am I Still Locked Out?” The church is located at 2670 E. Grand Blvd., Detroit, Mich., 48211. The workshops will include information on budgeting, credit management, retirement, saving and investing. There will also be a special youth track for teens ages 14 to 17. For information and to register, visit the church’s Web site, or call (313) 871-0300 or (313) 874-3724. This is an annual event presented by the Financial Empowerment Ministry of Triumph.
Tia Lewis contributed to this report.
You are welcome to e-mail comments and questions to colorofmoney@washpost.com. Please include your name and hometown; your comments may be used in a future column or newsletter unless otherwise requested.
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