**I participated in a campaign on behalf of Mom Central Consulting #MC for #Aflac, I received a promotional item as a thank you for participating.**
Open Enrollment time is always a stressful time in our house. Being someone who is very budget conscious, I always wonder if I am making the correct decisions for my family during open enrollment season. Do we go with Dental? Do we go with Vision? What about the Basic plan? Will I have enough insurance to cover my family when necessary and not have to go into debt?
For most of my relationship with Big, I have not had insurance. Now, thanks to the Supreme Court, myself and my daughter will be covered. Although I am extremely happy about this, it also brings with it some confusion of what insurance decisions I need to make for my family.
Did you know, over 74 % of workers say they are not able to fully understand what is covered by their insurance policies? I hate to say it, but I think I fall in that category! This year, with all of the changes in our family, we have relied heavily on the wonderful folks that work in the Human Resources Department for help while making decisions about our health insurance. Thankfully they fully understand how to explain the policy to us and make sure we don’t make mistakes or worse yet waste money making enrollment mistakes. The chart below really made me realize how important it is to understand your policy.
Here are some tips from #Aflac that I found useful:
Prepare ahead of time: Be aware of annual insurance policy changes and compare your new benefits package to your policy from the year before. Do your homework to ensure you choose the right policy that fits your needs and make sure that all of the health insurance costs you’re responsible for are within your budget. Also, review the deductibles and other out-of-pocket costs for health care services and pharmacy purchases you’ll be responsible for paying to ensure your plan offers the coverage you need.
Don’t make assumptions: Keep in mind that if your company hasn’t made any material changes to its health insurance plan since health care reform legislation was passed in 2010, it may be exempt for now from offering widely discussed essential health benefits, including free preventive services. Ask your HR manager if your policy options changed to include new benefits made available by health care reform.
Check your spouse’s benefits package: Your employer doesn’t have to offer insurance to your spouse and as costs increase, more companies are cutting this option. Even if your employer does offer your spouse insurance, the company is not obligated to pay anything toward the premium. If your spouse has access to employer-sponsored health insurance through his or her job, it may make the most financial sense to purchase two individual policies as opposed to one family policy.
Don’t double up: Health care reform legislation requires plans in the individual and small group markets to offer essential health benefits like pediatric vision and dental and, chronic disease management services. Check all aspects of your major medical plan so you know what is covered and what isn’t.
Examine premium costs carefully: Cheaper isn’t always better, since plans with the lowest monthly premiums likely mean you’ll pay more in co-insurance and receive less coverage.
Knowledge is key to learning all you can about open enrollment! Click the link below to find out more!
Open Enrollment Resources: http://bit.ly/1bePWaa #MC #Aflac
I hope all of this information has helped you out during the, sometimes stressful, open enrollment season.
Thanks for stopping by and I will see you soon.