If you get health insurance through your job, open enrollment is your once-a-year chance to change your benefits. Most employers hold it in the fall, and the window is often just two to four weeks. Ask HR for your exact dates so you don’t miss them.
Before you let your benefits auto-renew, run through this list. First, read what’s changing, because premiums, deductibles and networks can change every year. Second, confirm your doctors and hospitals are still in-network. Third, check that your prescriptions are still covered and what they’ll cost. Fourth, look at the voluntary benefits like dental, vision, life, disability and accident coverage, since these are often cheaper through work than on your own. Fifth, compare plans on total yearly cost, not just the amount taken out of your paycheck.
If your employer offers an HSA or FSA, open enrollment is usually when you set your contribution for the year.
The takeaway? Auto-renewing is easy, but it’s not always smart. Fifteen minutes of review now can save you hundreds next year.
Not sure what your plan’s numbers mean for you? Book a free call with Peek Business Solutions. I help families and businesses across Louisville and Southern Indiana understand their coverage before the bills show up.
