Navigating Open Enrollment: Choosing the Best Health Insurance and Other Benefits in 2024

63 snips

Nov 1, 2023

Dive into the world of health insurance with practical insights on navigating open enrollment. Discover key plan types like HMOs, PPOs, and EPOs while unraveling essential terms like deductibles and out-of-pocket maximums. Learn how personal preferences impact your carrier choices and how to evaluate plans wisely. Uncover clever strategies to maximize savings and explore alternatives to traditional plans. Plus, get fun travel tips for families visiting Hawaii to enhance your vacation without overspending.

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ADVICE

Health Plan Types

Understand HMOs, PPOs, and EPOs to choose the right plan.
PPOs offer specialist access without referrals, HMOs require them, and EPOs restrict to in-network care.

INSIGHT

Deductible Details

Individual deductibles within family plans exist; each member meets their individual deductible until the family deductible is reached.
This benefits families where one member has high medical expenses.

ADVICE

HDHP and HSA

Consider a high-deductible health plan (HDHP) to pair with a Health Savings Account (HSA).
Invest pre-tax HSA funds, enjoy tax-free growth, and withdraw tax-free for eligible expenses.

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