Time to Make the Switch with Your Health Plan
When we finally decide on a health plan, it is such a feeling of relief. However, you should not get too comfortable. Life changes, so when the next open enrollment period comes around, it is a good idea to take some time and reassess your situation to determine if that particular plan is still right for you. Here are some ways to know if it is time to make the switch with your health plan.
Doctor no longer accepts your plan. Going to a doctor that makes us feel safe and comfortable is so important. Unfortunately, the types of insurance plans that doctors accept are always changing. Your doctor may accept your plan now, but that does not mean they always will. If you try to continue going with them without being covered, you will find yourself staring at a large bill.
Prices rise. Staying with the same plan does not ensure that the prices will stay the same. Year after year the prices may rise. Switching to a different plan will have you paying less for a similar option.
Paying for preventive care. Things that are meant to keep you healthy such as flu shots, blood pressure screenings, cancer screenings, etc. are required to be covered fully by your health insurance plan. However, if you have stayed with your plan for many years, it may be considered grandfathered which means it does not have to abide by those same rules.
Prescriptions are not covered. A health insurance plan may not cover a certain prescription or decide to cover less of the price. So, you should call and check with your provider to determine if the medications you need will continue to be covered the next year. If the answer is no, you may want to look into switching your health plan.
Need of care. Taking the time to review your past year in terms of financial and healthcare needs will be beneficial in deciding whether or not you want to keep your plan. If you visited the hospital a lot and paid full price, you should get something with better overall coverage. But if you have an expensive plan that you never use, you could find something cheaper with higher deductibles.
Life Insurance Questions?
We hope this information on time to make the switch with your health plan is helpful.
If you’d like to learn how we can help you plan your retirement, call Empower Brokerage to speak to one of our Life and Annuity experts (888) 539-1633
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