Can you un-enroll from 401k at any time? Or is it like health insurance where you are locked into it until open enrollment periods?

  • 1
    If it's a health insurance plan you are paying the premium for, you can also un-enroll at any time by not paying the premium. You just cannot enroll outside the enrollment period.
    – user102008
    Feb 16, 2020 at 17:08
  • 2
    @user102008 that's true if it's a personal/family plan, but not if the insurance is through your employer, and OP obviously has health insurance through his employer.
    – RonJohn
    Feb 17, 2020 at 2:16
  • It all depends on your plan. I have heard of plans that have limited times on when you can join and when you can change your contributions. So check with your plan administrator.
    – Pete B.
    Feb 17, 2020 at 11:44

1 Answer 1


You can stop contributing or change your contribution at any time, but there are some restrictions on taking the money out that you should be aware of. For example, you can't cash out the 401k while you are still employed by the company that hosts the 401k.

Also, even when you can, you will be penalized for withdrawing funds before you turn 59 1/2.

FYI: On insurance you aren't "locked in" so much as you are paying for a fixed amount of time (like a lease on an apartment). You can get out of health insurance when that runs out by just not paying for another period.

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