Why do I need health insurance?

Health insurance can help protect you and your family and help you prepare for the unexpected. While you can’t predict when an accident or illness will happen, you can be prepared financially for the medical costs that come with them.

Choosing a plan that works for you

It is important that you understand your health insurance options and choose the plan that is best for you and your family. To find out what you value in a health plan, rank the items below on a scale of 1 to 4, where one is the most important.

1Affordability

Understand the total cost of your premiums and out-of-pocket expenses. You can determine your total monthly cost by looking at the plan co-pay, co-insurance, etc. for your common medical needs.

2 Convenience

Having in-network doctors and hospitals near your home or work.

3 Coverage

Your plan options will include different levels of coverage for specific types of care. Think about the kind of benefits that matter to you. Do you need help covering prescription costs? Do you want coverage for well-woman exams and maternity? Look closely at your benefit maximums to understand how much the plan will pay for these items.

4 Decision-support tools

Having access to an easy to understand web site and plan material.

Making the most of Open Enrollment

If you’re like millions of other Americans with health benefits offered through your employer, you have one chance each year to make a decision about your benefits for the next year.

When do you enroll?

Open Enrollment (OE) is a window of time where you can enroll for health benefits or make changes to your benefits package.

When are exceptions made?

Section 125 plans do not allow you to make changes to your benefits, other than during Open Enrollment or for a qualified life event such as getting married or having a baby.

Review your current health plan

If you currently have health insurance, it is important to review your benefits even if you don’t plan on making changes. Now is the time to make sure your benefits meet your needs and fit your budget.

3 C’s of checking your current health plan are:

• Changes to your current plan options.
  Plan details sometimes change, so make sure that your benefits are still available next year.
• Cost of your premiums, co-pays, and deductible.
  Costs often vary from year to year and plan to plan, so review your out-of-pocket costs. 
• Coverage information. Make sure your doctors are still in-network, and that your dental and vision discount programs apply.