How to pick work benefits at open enrollment

Teach: How to pick work benefits at open enrollment

What to say

To pick work benefits at open enrollment, list the care you expect next year and compare each health plan's total yearly cost, not just its premium. Check your doctors and prescriptions are covered. Decide whether a health savings or flexible spending account fits, confirm the retirement match, and review life and disability cover. Submit before the deadline.

What to show, in order

1. Put the enrollment deadline in your calendar the day you get the notice.
2. List next year's likely care: regular prescriptions, specialist visits, planned procedures.
3. For each health plan, add twelve months of premiums to the deductible to see a bad-year floor, and note the out-of-pocket maximum.
4. Check each plan's network for your doctors and its drug list for your prescriptions.
5. If you pick a high-deductible plan, look at the health savings account and any employer contribution to it.
6. Use a flexible spending account only for costs you are sure of, since unused money may be lost.
7. Check the retirement match, and the free or low-cost life and disability cover your employer offers.
8. Submit your choices, then save the confirmation page.

When to stop and call a professional

• You are choosing coverage for a pregnancy, a chronic condition or a planned surgery: call each plan and ask about your specific care.
• You are unsure whether a spouse or partner's plan is the better family option: ask both benefits offices for the costs in writing.

The check question

Ask: How do you compare two health plans fairly? Answer: Yearly premiums plus the deductible and out-of-pocket maximum

From EveryManSkills. General information, not professional advice.