Open Enrollment is coming soon! (It starts November 1!)
Are you ready?
Many people aren’t, and as a result, end up spending more than they should without having the coverage they really need.
Why do so many people make the wrong choices?
There are a lot of plans available and the thought of trying to wade through all of them can be overwhelming.
Here are the most common mistakes people make and the way to avoid them.
Don’t let the Open Enrollment period pass you by without reviewing your plan and determining how well it’s working for you!
Automatically re-enrolling can be one of the biggest mistakes that you can make when it comes to healthcare.
You could be saving yourself a huge chunk of change by switching plans.
Avoid missing out by consulting your trusted insurance agent. Insurance companies make changes to their plans that could have a significant effect on you, such as dropping doctors or certain prescription drugs.
Your agent will be able to guide you through all of this and help you determine if your plan is still the best, most economical option for you.
Most people don’t understand their healthcare needs for a year.
Taking the time to evaluate what you’ll expect to pay in the coming year can give you some much-needed clarity.
Once you’ve done this, you can look for the plans that have what you need most.
One easy way to determine the amount you should plan on spending is to compare what you spent the previous year on premiums against your expenses for medications and claims.
Figuring out the total you paid out-of-pocket will help you to see if your current plan is working well for you.
You may think you’re saving yourself some money but chances are, you’re doing just the opposite.
Of course, taking the premiums into account is an important part – but it isn’t the most important!
You’ll also want to figure in the cost of your deductible, your co-pay amount and the maximum amount you’ll be paying from your own pocket.
There’s nothing wrong with sticking with a doctor you like.
The problem is that choosing to stick with a plan for that reason alone may take a toll on your budget and you may be limited in other areas, as well.
You want to choose a plan that allows you a lot of options for providers – both in- and out-of-network.
If your plan doesn’t cover any out-of-network providers, you’ll end up being stuck with the total cost.
Your insurance agent will be able to help you navigate the plan you currently have in relation to the other options that are available.
With the Open Enrollment period coming soon (it begins November 1, 2017 and ends December 15, 2017), it’s time to start thinking about assessing your current plan so that you’re ready!
Letting the enrollment period pass on by and not knowing exactly what your needs are can end up costing you more than you think.
Your independent insurance agent will be able to guide you through the process of looking at every different angle, show you why sticking with a plan just to keep your doctor isn’t wise and help you understand why cheapest isn’t always best.
Chances are, your budget doesn’t enough wiggle room to allow for paying out money for healthcare that you don’t need to!
Have you reviewed your healthcare coverage with Open Enrollment coming soon?