4 benefit assignments to complete before 2024

As December continues to fly by, set aside some time to tidy up any loose ends and set some goals for the new year. Your future self will be happier, healthier and more financially prepared for what's to come. 

For many employees, time is running out to spend leftover funds in their flexible spending accounts. Now is the time to stock medicine cabinets, schedule those last minute appointments and purchase some lesser-known supplies that are covered by these healthcare dollars. 

FSA users should check with their employer or plan administrator to confirm the date before they start spending, says Susan Elliott-Bocassi, SVP of operations for health e-commerce at FSA Store, an online store that carries over 2,500 guaranteed FSA-eligible products. She shares some items, like sunscreen, COVID tests and more, to stock up on for 2024. 

Read more about FSA-eligible products to purchase now: Still money left in your FSA? Here are 10 surprising FSA-eligible products

As employees sort out what they'll need for their physical health, it's imperative they don't forget about their financial wellness, too. While 87% of employees believe they should review their retirement plans during open enrollment, less than half will actually take a look at their goals and make adjustments to their contributions, according to new data from financial services firm Corebridge Financial. Only a third of employees know if they're currently on track to meet their retirement goals. 

"If something has changed in an employee's life, their asset allocation could be wrong, or if they're using tools that say they're on track or not on track, maybe the portfolio needs to become more aggressive," says Terri Fiedler, president of retirement services at Corebridge Financial. "During the enrollment period, some plans offer the opportunity to speak with a financial professional and other planning resources and tools that are available to engage employees in the retirement savings process and determine needed actions." 

Read more about adjustments to make to retirement plans before year's end: End-of-year checklist: Update your retirement contributions

If a new job is on the radar for 2024, employees should consider reviewing their resumes and even using artificial intelligence to give them a leg up on the competition. But instead of relying on AI to write a resume from scratch, the tech should be used more as an "idea generator" — and used sparingly, says Keith Spencer, career expert at Flexjobs. 

"When you're reading something that's completely AI-generated, you can typically tell it's not a human that wrote it — it doesn't really sound natural and it lacks your personal touch," Spencer says. "What I like to use it for is an idea generator to help break through writer's block, or use it as a research assistant to analyze those job descriptions." 

Read about best practices for using AI during a job search: Do's and don'ts for using AI to improve your resume 

With life-admin out of the way, leaders and employees can focus on their plans for the new year. To get inspired, several executives shared their 2024 business resolutions with EBN. Check out their priorities (and varying approaches), as well as their thoughts on the value of self-reflection.

"Recognizing the importance of emotional and mental health, I will be initiating well-being programs that specifically focus on supporting my remote team in this aspect," says Yulia Saf, founder of global travel website Miss Tourist. "These programs will include initiatives such as stress-management workshops, mindfulness exercises, and access to confidential counseling services." 

Read more about what these leaders have planned for next year: 4 executives share their business goals for 2024