Understanding Your Health Insurance Options During Open Enrollment

Open enrollment is the one time each year most people can choose or change a health plan. A little preparation turns a stressful decision into a straightforward one. Start with how your family actually uses care, then match a plan to it.

Know the plan types

• HMO: lower cost, but you stay in-network and use referrals.
• PPO: more flexibility to see specialists and go out-of-network, usually at a higher premium.

Look past the premium

The monthly premium is only part of the cost. The deductible, copays, and out-of-pocket maximum determine what you actually pay when you use care. A low premium with a very high deductible can cost more overall for a family that visits the doctor often.

A simple checklist

• Are your doctors in the network?
• Are your prescriptions covered?
• What is the true out-of-pocket maximum?

If you are unsure, a licensed advisor can compare plans side by side at no cost to you.