If you accept reduced hours, would that allow you to change your benefits? I am considering changing my health insurance, 401k contribution and hsa to “plug the gap”

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I would
Unfortunately for most of consulting, I doubt reduced hours will actually happen
Even in our meetings, it sounds like layoffs will be the large majority, not adjusted hours.

I agree. In Consulting reduced FTE/hrs make little sense. We can’t just send more people to the client to cover for reduced hours - any reasonable client would protest with increased coordination efforts etc. - plus higher travel expenses.

Less hours on the beach still cost money. So companies need to reduce headcount, not FTE, if they want to keep margins up. Either temporarily (leave programs, forlough,...) or permanent (layoffs).

(Or they take a hit to the margins... but that’s probably not the American way ;)

smart

401K and HSA can be adjusted but I don’t believe insurance can be changed.

Had a life changing event. Can add a newborn but didn’t let me switch plan.

If your hours and therefore pay were reduced, you should be eligible to change your benefits. This just happened in my company and we were allowed to make changes

I’m in consulting. Reduced hours. Other than the reduced pay, my 401k and insurance are the same. I accrue PTO at a reduced rate though.

Don’t touch your 401(k). Your future self will scold you. Changing the other stuff is fine.

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