As you prepare to enroll in health insurance benefits this year, know that AUI is here to help. We are focused on you and your team with reviewing all your options in 2023. If you have any concerns about your existing plan, your AUI broker can help you review the options. We will look at what is available on the marketplace and compare offerings and pricing. We can also guide you with proper preparation may help alleviate some of the concerns that you have.
According to Kaiser Family Foundation in a health benefits survey “individual coverage premiums rose 58 percent, from an average of $5,049 annually in 2010 to $7,911 in 2022. Over the same period, family coverage premiums rose more than 63 percent, from $13,770 to $22,463.” – Employer Health Benefits: 2022 Annual Survey.
Today it is imperative that if you are accessing health care benefits as an individual or as a business. Just as important is understanding the benefit plans and what you get for what you pay for. That is where the team at AUI comes in to help. At no cost to individuals or your business, our team of brokers can work with you to find health care plans that fit your needs. In this blog we are going to give you our top 6 tips for anyone looking to renew or replace their health insurance benefits during the open enrollment period.
6 Tips for Open Enrollment:
Reassess the Health Care Needs of You and Your Dependents.
Health care plans change year to year, and open enrollment offers you a chance to reevaluate your health coverage. As you prepare for open enrollment this year, make sure to evaluate whether you’ve had any changes in the past year, or if you anticipate changes in health care needs in the upcoming year. Questions to consider include:
- Have you added any dependents?
- Do you anticipate changes in the health care needs of you or your dependents this year?
- Do you anticipate any changes in how regularly you or your dependents will see their health care providers?
- Do you or your dependents anticipate changes in the use of prescription medications?
Review Benefits Options Thoroughly.
Health care benefits adapt and change over time. It is important to review all the options offered during open enrollment. As plans and costs can change year to year, ensure you thoroughly review open enrollment resources that are provided to you, and ensure any questions you have are addressed before making any choices.
Reevaluate Medical Coverage.
Not all changes with health care plans are caused by the benefits program package. Provider networks can also change. For instance, the doctor that you love may opt out of being “in network.” AUI wrote an entire blog about this if you want to learn more about how to changes with your provides that affect your benefits. READ THE BLOG HERE
Compare Copays.
Take time to make sure you are aware of all offered resources, including mental health resources, chiropractic care, employee assistance program (EAP), wellness programs, telemedicine services and any other benefits that are available. Different plans offer different copays for medical treatment that are not through a hospital or your primary care physician. Look at all the different specialists you would want to have access to through your healthcare plan and make a decision that is right for you. Read more about the Value of an EAP to a small business HERE.
Consider an HSA or FSA.
If you haven’t started a health savings account (HSA) or a flexible spending account (FSA), consider whether these options are a good fit for you or your business. This is another topic that AUI has covered in our blogs. If you are not familiar with HAS and FSA options learn more HERE:
Business Owners Review Benefit Needs with Employees
Even in a small business, the benefits you offer are a big draw as part of a compensation plan. It is important during open enrollment to check in with your team to see if the needs that they have for health care benefits are met by your benefits package. Do the current offerings meet the needs of your team? Open enrollment is the perfect time to evaluate your options for the team to make sure you are giving them the best of what is available. You might have guessed we wrote a blog about this too. You can read it HERE.
Preparing for a Successful Open Enrollment
At AUI we are here to help you during open enrollment and every season of the year. Our team is an extension of your team. Open enrollment can be overwhelming for anyone. If it is not what you do every day, it is sometimes difficult to navigate. You don’t have to do it alone. Our brokers will meet with you and listen to your needs and help you find a health care plan that matches your criteria to the very best of our ability. Working with brokers ensures that our team works for you and not the insurance companies. We look at all the options, we don’t try and sell you the plan. Health insurance is not a one-size-fits-all box that you check.
Unsure of what to do next? Contact us today and get connected with one of our dedicated brokers to get started.
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