As we move into Open Enrollment season for many American workers — and their parents or grandparents — it’s a good time to take stock of where you are financially…and where you want to be in the future. Fortunately, there are some helpful tools and programs to help achieve your goals. We’ve listed just a few below; feel free to share them with family and friends.

• Boost your savings — A recent Merrill Edge Report found that 66% of non-retirees anticipate financial stress in retirement, and 75% state they’ll have to rely on their own savings during their golden years. Yet, MarketWatch reports new research by Aon Hewitt that only 20% of workers are on track to meet or exceed their savings needs at age 65. Don’t be caught as so many others will; now is the time to boost your retirement contributions for.
  • Money-Saving Tip: One simple way to find extra money to invest is to modify the number of withholdings claimed in your W-4 [PDF], especially if you receive a refund at the end of the year. The handy IRS Withholding Calculator can help calculate the right numbers to use. With the extra tax benefits of contributing more to your retirement account, this can be a great way to increase your retirement savings without significantly affecting your take-home pay each mont
  • Money-Saving Tip: You get paid to save today by earning a Saver’s Credit up to $1,000 per individual (single) or $2,000 per couple (filing jointly) for contributions to an IRA or employer-sponsored retirement.

• Health Insurance Marketplace — Go to gov to obtain, change, or update your coverage for 2016. See these important dates. If you have experienced any life changes — getting married, having a baby, losing other coverage, moving, etc. — you may still be able to obtain coverage for 2015. See 2015 coverage details and dates.
  • Caution: The New York Times reports that millions of customers’ personal financial information could be at risk from cyberattacks on both Healthcagov and the state marketplaces. This includes your Social Security number, address, passport numbers, employment status, etc. Be sure to monitor your accounts and your credit history for any signs of identity theft.

• Review your options — Ask your employer about the availability of a Health Savings Account (HSA) program that allows you to set aside pre-tax dollars for healthcare for the coming year. In 2016, HSA holders can choose to save up to $3,350 for an individual and $6,750 for a family, plus HSA holders 55 and older can contribute an additional $1,000 in “catch-up” savings (increasing totals to $4,350 for an individual and $7,750 for a family). These savings can be used to pay for qualified medical expenses such as medications, co-pays, deductibles, and treatments not covered by insurance.
  • Here is a list of the qualified expenses: HSA Qualified Healthcare Expenses. Some of the items on this list may surprise you!

• Reminder to parents — If you have parents or grandparents who just turned 65, they can sign up for Medicare as soon as they become eligible. Then, each year they have the opportunity to make changes to Medicare and the prescription drug plan (Medicare Part D) during Medicare Open Enrollment. This year’s dates are October 15 through December.
  • Caution: Those who qualify for Medicare Part B (medical insurance) must sign up as soon as they are eligible, or they could pay an enrollment penalty every month for as long as they have ..which will probably be the rest of their lives!

• Costs go up — The S. Department of Labor’s 2015 Employer Cost for Employee Compensation [PDF] report states that employers spent an average of 30.5% of total wages on benefits, including vacation pay, sick days, health and disability insurance, Social Security contributions, Medicare, workers’ comp, unemployment insurance, etc. So, as more employers shift employees toward exchanges for healthcare, remember, they are still spending a lot of money on employee benefits.

• Talk to your tax advisor — Here are some planning tips from the experts to consider: Year-End Tax Tips.

Keep track of the important dates noted above to maximize your savings and avoid penalties. We hope this brief list will help you focus on key decisions during 2016 Open Enrollment. And, as always, talk to your advisor to ensure you are making the best choices to build a stronger financial future.