Choose the Best Health Insurance Plan for You

What is this service?
Smart Health Decisions helps you pick the health insurance plans that best fit your needs whether you are an employer looking for coverage for your employees, or you are trying to evaluate insurance options offered by your employer, or you are choosing among health plans for individuals, or you are trying to determine your best Medicare solution.  Smart Health Decisions does not sell health insurance.

We work with you to examine your current and likely future healthcare needs, clarify the protections you want most from health insurance,  thoroughly review and compare the health insurance plans of interest to you, and communicate clearly and simply the strengths and weaknesses of the different health insurance plans.  This objective, comparison shopping allows you to make a smart decision about the health insurance of best value to you. 

How do consumers benefit from this service?
87% of consumers surveyed are worried about their finances this year because of the struggling economy.  Yet, the majority of people admitted they will spend an hour or less, or no time at all reviewing their health benefits options.   Most workers choose the plan they have selected in previous years.  What is the result?  More and more people with health insurance coverage are not able to afford the medical treatment they require.  Smart Health Decisions can help you save time, wisely select the plan that’s best for you, better protect your health and finances, and reduce stress, frustration and worry. (Aetna, Financial Planning Association, 2008; Hewitt Associates, 2007.) 

When should healthcare consumers use this service?
Consumers without health insurance or with the wrong health insurance plan can end up sick from going without needed care and in financial trouble from paying more than necessary for care. Unfortunately, most often consumers do not know how smart they were in choosing their health plan until they use it, and then it can be too late.  Be a wise healthcare consumer and pick your health coverage smartly before you need it.

Medicare Enrollment Periods
Medicare enrollment happens at different times for different people and products.  For most of those already participating in Medicare, enrollment periods are from November 15 through December and from January through March. 

Employer’s Open Enrollment Period
If your health insurance is work-based, most changes in your insurance coverage must be made during the employer’s annual open enrollment period.  Typically, this is during the late summer/fall of the year. Miss the window or fail to make the right choices and you won’t get a chance to correct it until next year. Many companies are beginning the practice of moving employees who don’t make choices into default healthcare plans that save the company the most money but may not be best for you. (Hewitt Associates, 2008.)

Changes at Work

• New Insurance Options- If an employer alters health insurance options, it is important to check if your current plan remains a good value compared to new choices.  
• Job Change- A new position can result in new health insurance options for evaluation.  
• Job Loss- If a family member loses a job it is important to understand how health benefits might be continued through COBRA/portability coverage or other coverage options.
• Retirement/Medicare Eligibility- When you are planning for retirement or are approaching your 65th birthday, there are important changes the way your health insurance works and your insurance choices.  Smart Health Decisions helps you know what to expect, prepare for the changes, and evaluate new options available to you.

Changes at Home
Likewise, it is important to evaluate your health insurance coverage when there are changes at home.  If there is a change in the family, a baby, a divorce, a death, an older child travels, goes off to college or graduates, existing coverage may no longer offer the best value.  Similarly, a change in a family member’s health status will likely change the family’s healthcare needs making it useful to reconsider health insurance coverage.

Dissatisfaction with Your Current Insurer
Of course, you should re-evaluate your choice of health insurers whenever you think your health plan may no longer be best for you.

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