Open enrollment season has officially started and I am officially stressed about it.
Like many employed Americans, I have health insurance through my workplace plan. My yearly opportunity to choose my benefits for 2021 kicked off on October 15th and I have until the 29th to make my elections.
What, exactly, makes me so anxious about open enrollment? Well, for starters, I’m never certain that I’m choosing the best plan for me. I know that I’m extremely lucky to be able to choose between three different options – many others aren’t so fortunate – and truly, my company offers tools to make the process as smooth and understandable as possible.
But…health insurance matters are confusing!
There’s too much math involved for me, a person who considers herself allergic to basic arithmetic!
There’s too much unpredictability in it all – how am I supposed to know how many times I may need to meet with specialists next year? How am I supposed to forecast any possible health issues besides my diabetes? How do I go about guessing things that are impossible to guess?
Do I stick with the plan that I’ve been on for the last year and a half or so, that has high co-payments for my doctor appointments but the lowest deductible? Or do I change it up and go on a high deductible plan with a lower premium?
Please reassure me that I’m not the only person with diabetes who absolutely loathes this entire process and overthinks it every step of the way…
Hugging the Cactus 
For what it is worth. I know not much. But you are trying to beat the loaded gun of health insurance. So I used to administer employer health plans. The thing here is that in the long run you will not win by trying to guess the low / high cut line. In the end you will pay roughly the same amount regardless. Long run meaning 10 years. Pick the high plan and when you need it, I mean really need it, you have to have the capacity to immediately get that cash, then think of that happening twice in one year.
My worst health insurance year was 475K. My best less than $500. My total by year over the years. 17K. today my stop loss would be about 12K. Could I afford 12K? Sure, could i do it twice in two years? Maybe. Better to pay the monthly premium. Over time, it will be about the same. Trust the old man.
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Your comments ARE worth it, Rick – I value your opinion! Thanks for sharing your experience.
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