Open Enrollment Time? Compare Your Health Plan Options

During your health plan open enrollment period, there are a lot of potential changes that could be made. Here are the basics of open enrollment and what types of options you will have during this period.

Open Enrollment

Open enrollment is a benefit that is offered by many different companies in conjunction with their healthcare plan. This is a certain period of time every year that you can choose to review your coverage benefits. If you decide that you want to make a change, this is the time to do so. Here are a few of the options that you have during open enrollment.


During the open enrollment period, you will be able to evaluate whether your monthly insurance premiums are in a good price range for you. Depending on the plan that you have, you may be able to adjust your monthly premium up or down. If you are one of those people that rarely goes to the doctor, it might be in your best interest to lower your premiums. By doing this, you will also increase the amount of deductible that you have for the year. If you are an individual that frequently uses medical service, you might want to consider increasing your premiums and lowering your deductible. You can play with the numbers to decide which option is going to be best for you and your unique medical needs.


Something else that you will need to look at is the co-pays on your insurance plan. The co-pay is the amount that you have to pay whenever you go visit a doctor or other medical professional. Depending on how often you go to the doctor, you might want to adjust this figure up or down. If you frequently visit the doctor, a lower co-pay could be to your advantage. If you rarely visit the doctor, raising the co-pay will help lower your premiums.

Medical Screenings

You might also be able to decide whether you want your plan to include medical screenings or not. This is a form of preventative care that is optional with many health insurance plans. If you decide that you want to include medical screenings in your policy, the price of your premiums will most likely increase. You have to decide whether it is important for you to engage in regular medical screenings or if it is not in your best interest.

Flexible Spending Account

With many companies, you might also have the option to utilize a flexible spending account. If this is an option for you, you should take a strong look at it. The flexible spending account can provide you with a number of benefits over the course of year. With this type of account, you can set aside a portion of your income on a tax-free basis in order to pay for various medical expenses. You can use the money to pay for your co-pays, prescription or over-the-counter drugs, and various other qualified medical expenses. You can also use it to pay for childcare if you need to.

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