Open Enrollment Points to Ponder
Open Enrollment used to be a pretty straightforward affair. With the recent changes in health coverage options, smart employees do more than simply renew the plan they had last year. Join the ranks of smart consumers, and look at your options with these questions in mind:
- What are my options? Don’t just shrug and renew. Read your Open Enrollment materials to understand what you’re being offered. Ask questions. Do research. The reward? Saving some money and/or getting the plan that best fits you and your family.
- Has my life changed? Did you get married? Have a kid? Embrace a healthier lifestyle? Investigate how these changes affect your options and costs.
- Is my doctor on the list? Check your plan’s network provider list to see if your doctor’s on it. If not, decide: Do I change doctors to save money, or stay and pay more?
- What do I really need? Some plans offer features you might not need; others might not have everything you need. Understand what you need, then get the plan that offers it.
- What can I afford? This question goes beyond monthly cost. A low-cost, high-deductible plan might seem like a bargain… until you pay high deductibles. Consider your budget for deductibles, copays, and more when you make your choice.
- Can I get a discount? Look into wellness programs and other options your employer might offer that can lower your costs.
- Where do I sign? Don’t get overwhelmed and skip coverage. Take the time to make choices, and then sign up.