Look at Health Plans Closely
Many people at open enrollment time just maintain last year’s decisions as an easy choice. It could be a painful mistake as benefits, especially health benefits, make changes.
Recently I reminded my readers to look at their health plan choices after reading an article by Stephen Miller of the Society of Human Resource Management. In that article, he emphasized the following key components to review during a look at different health plans:
Prescription benefit changes. These can be costly if this is a result of employers trying to save money in this fast-growing expense area. Look for new drug lists.
Working spouse coordination of benefits. This is another way companies can cut their costs by enforcing that working spouses use their own benefits.
Current doctors still on the list. This could be a big shock if you’re not paying attention. Preferred provider networks change and add or delete practitioners each year. Out of network doctors cost a lot more.
New administrator. Companies change third-party administrators to save money. Payment processing rules and methods may be changing. Keep up to date on these new procedures to avoid costly delays or mistakes.
Alternative medicine. Many employees like to try non-traditional treatment. More plans are offering these options to expand coverage and save costs. Take a look carefully to see what is involved and if you’re eligible under a specific plan.
What more good questions to ask? You’ll find the complete article at https://goo.gl/7T7VMq