Do plan to take advantage of open enrollment for health insurance this fall?
Are you knowledgeable about your insurance options and which are best for you and your family?
I have to admit, before I got married, I didn’t really understand all of the terminology, benefits, and disadvantages with the different insurance options I had in previous jobs. I usually opted for the cheapest route and hoped I never really had to use it. Looking back, that was a horrible plan of action for something that should be taken seriously.
Thankfully, I married a man who takes advantage of open enrollment each year. The human resources department at his work is pretty good at explaining the different plans available. They are also available to answer any questions we have. Some companies, however, do not take the time to thoroughly educate their employees about open enrollment and the choices they have, which can cause a lot of financial problems down the road.
Recently, a study was conducted as part of the Aflac WorkForces Report (AWR) regarding open enrollment. The survey revealed that over half (56%) of consumer figure they waste up to $750 each year thanks to bad decisions when choosing benefits. That could be almost 2 car payments lost! Plus, 65% said they were usually not prepared (or at least, didn’t feel sufficiently prepared) when it came time for open enrollment.
Many, approximately 89%, of consumers just go on autopilot when it comes to open enrollment, choosing the same benefits year after year. With insurance plans and options changing every single year, it’s very important that you learn more about what you are being offered before merely choosing the same coverage you had last year. This is especially true if there have been changes in your life, such as having a baby or a loved one covered by your insurance being diagnosed with a serious condition.
It is important to consider your options when it comes to health insurance, to protect your family as well as your wallet. One thing my husband and I have been discussing lately is supplemental insurance, much like what Aflac offers. This could come in handy if one of us were to become injured, especially James. If he were to miss work, the supplemental insurance would ensure he still received money for us to live on. That’s major with him being the primary breadwinner of the family.
Be sure to learn more about open enrollment before the time comes to make your choices. Discuss the options with your family so that you can make the right decisions and possibly avoid more problems and stress with regards to health insurance in the future.
Disclosure: I wrote this review while participating in a campaign by Mom Central Consulting on behalf of Aflac and received a promotional item to thank me for taking the time to participate.
Photo Credit: vichie81 / FreeDigitalPhotos.net