Don't Let Open Enrollment Stump You This Year
New "Navigating Your Health Benefits for Dummies" Guide Helps You Navigate Your Choices
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This fall, you're probably navigating a number of things — from attending your children's sports and school events to planning for the upcoming holidays. With so much going on, you may not be thinking about navigating your health benefits. But, with Open Enrollment approaching, there is no better time than now to get to know your options.
Open Enrollment is typically the only time each year that millions of Americans who receive benefits through an employer can make changes to their health benefits for the coming year. In today's uncertain economy it's more important than ever to take the time to review your health benefits and make well-informed decisions that are smart for your health and your finances.
To make things a little easier, Plan for Your Health released the second edition of its popular Navigating Your Health Benefits for Dummies guide. This free guide will help you make decisions at Open Enrollment and throughout the year. It includes useful, timely information on topics such as dealing with health benefits after a layoff and making smart financial decisions in today's tough economy.
With the uncertain economy, many Americans may be in different situations or have new questions this year, like the ones below. Even more information is available in Navigating Your Health Benefits for Dummies, including a handy pull-out sheet featuring "Ten Money-Saving Tips."
Click here for a digital download or to request a hard copy of Navigating Your Health Benefits for Dummies.
What is the most important thing I need to do at Open Enrollment? Many Americans choose to stick with what they know, and keep their plan from the previous year. That's not always the only option. Or the best one. Make sure to look at all your options and think about what's coming up in the next year before making a decision. Are you planning to have surgery? Do you take a prescription medication on a daily basis? Take these factors into account before signing off on your paperwork.
What kinds of choices should I be making now if I feel that my job may not be safe next year? Spending just a small amount of time at Open Enrollment this year to understand your options will help protect your health and finances throughout the year. It's also smart to think about taking preventive health measures now, such as receiving your annual physical, in order to stay up-to-date on your health and wellness.
How much money should I put into my flexible spending account (FSA)? A good rule of thumb is to look back at your Personal Health Record (PHR) to review your spending from the last year. If you don't have an updated PHR, now is a good time to start! When setting aside money in an FSA, also consider your annual spending on the following:
- Over-the-counter medicine
- Contact lens solution
- Band-aids
- Co-pays at the doctor's office
- Eyeglasses
- Prescription co-pays
Click here to take a look at a few groups of Americans, their outlook on health benefits and finances, and what they could be doing to help make the most of their benefits at Open Enrollment and throughout the year.
