Fall is not just beautiful leaves and cooler weather. It's also the signal for open enrollment for health insurance. Whether you have insurance through your company, through the marketplace or even on Medicare, this is the season to review your coverage and consider any changes you need to make. Here are a few tips for you to remember:
1. Open enrollment season has very specific dates. In fact, the Marketplace is only open Nov. 1 - Dec. 15 this year (that's shorter by 45 days!). They're also not open every day of the week so pay attention to the hours. If you're expecting to call them on Sunday afternoon, you could be disappointed.
2. Also for you Marketplace folks, Anthem is no longer participating so if you have Anthem or were hoping for them, you need to look at other carrier options.
3. Consider your particular healthcare needs. Review your healthcare spending last year (include premiums, copays, all out of pockets, etc.). Don't make a decision on your premium alone. Even if you have coverage through your employer, you need to review your coverage.
4. Don't forget to take advantage of the tax savings for flexible spending accounts and HSA accounts. These can be a HUGE savings for you every year so if your employer offers any cafeteria accounts, you need to check into it.
5. Talk to someone if you are confused or overwhelmed. Don't feel like you have to do this all on your own. Healthcare coverage is so important that you need to spend the time to get the information you need to make this decision.
The bottom line is that you need to pay attention and make a decision carefully. Don't just assume you have the right coverage and make sure you do this every year.