How Insurance Works

Time to reshop your health insurance plan

For many of us we’re in the midst of what’s
known as open enrollment season where you pick the healthcare plan that you’re going
to have for next year either through an employer or if you’re buying a plan on your own or
for your small business you may be buying on one of the healthcare exchanges run by
your state or in many states, run by the federal government for your state. So the plans are
sold if you’re buying your own where you buy by color: bronze, silver, gold, or platinum.
The higher you go in the metals, the better the coverage you have, the higher the premiums
are. But I need to tell you something. One mistake a lot of us do is whoever we already
picked, we just pick them again. And that could eat up your wallet because even though
overall healthcare costs around the county are not increasing at any dramatic rate some
of the healthcare plans are going way up in cost while others are going down. So take
the time, it will take you about 20 minutes to re-shop your plan on your state exchange
and make sure that you’re getting the best deal. With employer provided plans take the
time to look through the options because before you’re done remember, it’s your money and
your health. I’m Clark Howard.

Reader Comments

  1. Took forever to compare the Plan D programs for Joe and I because we have so many medications but for the first time ever, the same plans works out to be the best for both of us…CIGNA.  Anyone ever sign up for their Medicare D?

  2. ditch the state exchanges.  go to and get a temporary catastrophic plan.  avoid the O-care penalty by adjusting your taxes so you have no withholding.  The difference in premiums for me will be $600 a month!! No joke!

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