You don’t have to be a member of the House or Senate to have important choices to make soon regarding your health care. The majority of those covered by large employer health plans will soon receive information about their health care options for 2010. If you’re one of the fortunate individuals, here are some tips:
1) Set aside at least 2-3 hours to look through the information
2) If your current option is still offered, review it carefully for any changes. For example, are your providers still covered? If you take prescriptions, are they still on the approved list and have the copays changed?
3) Review the other options. If they are less expensive, look at whether your providers are included. If not, carefully evaluate any savings you’d achieve by switching plans.
4) Estimate what your co-pays, deductibles, and out-of-pocket costs will be for anything you could use a Healthcare Flexible Spending account for.
5)It’s a good time to organize the information and request reimbursement for any funds in your 2009 Healthcare Spending account.
Since most large plans now provide the information online, it may take some time to logon and get the information you need. If you start well before the deadline, you can make the best decision you can and avoid surprises in 2010.