September 7, 2017

Why is Open Enrollment important?

I have a health insurance plan.  Nothing has changed.  I like my doctors, take a few prescription medications and don’t anticipate any changes for next year.

Open Enrollment is your opportunity to change your mind.  If you have a plan that fits your needs, the doctor is in-network and prescriptions are generic, then no changes are necessary.  But you need to make a conscious analysis of your plan during Open Enrollment.  Formularies change, doctors change networks.  Important to know your network hasn't changed. 

My plan is to expensive, I never go to the doctor….

During Open Enrollment is the time to make changes to your coverage if you need to.  Carriers increase premiums, change plan designs and even drop plans on an annual basis.  

If your plan is to expensive, there may be less expensive options.  Lower premiums typically mean higher deductibles.  A Bronze plan for instance may have a lower monthly premium but you pay for all services until you meet your max-out of pocket.  Are you prepared for the unexpected?  Lower premiums aren't always your best choice.

Let me know if you have a specific question.  The are jus examples of what I hear from my clients.  If you are wondering about something, most likely there are others wondering the same thing.