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When Your Employer Switches Health Insurance Options

Updated: Aug 26, 2021

Has your employer decided to change your company's health insurance options? There could be several reasons why they would be doing this such as lowering the cost or trying to improve the plans overall. Here are a couple of things you need to look out for:

Video Transcript

- Hey guys, Ben green here, co-founder of insurance advantage and creator of big M green comm where we're here to optimize your career, your location and your finances. And today, we want to talk a little bit about what to look out for when your employer changes health insurance plans. So this can be a really legitimate thing that your employer is doing to try to lower the cost of your plans, try to improve the cost of your plans and so forth. But here are a couple things you need to look out for. So first thing is you need to understand which plan it is. So what carrier is going to be provided to you and they need to check the network to make sure that your current doctors are actually accepting that plan. Or in that particular network, whether it's united healthcare, blue, cross, Aetna, Cigna, whoever it is you need to understand what network is provided and whether or not your doctors accept that plan. The other thing you need to understand when you're taking a look at new plans from your employer, you need to take a look at what the deductible is going to be have they changed the deductibles have they changed the CO pays have they changed the maximum out of pocket that you might be responsible for in a year if you have to use a whole bunch of that insurance in a year. co pays for your prescriptions. This is also another really important thing that you need to understand you need to be looking out for So once again, understanding what your network is going to be understanding the CO pays understanding deductibles, earnings, understanding your maximum out of pocket, your prescription co pays, those are all things you need to take a look at when your employer is changing health insurance plans. I'm really looking forward to talking to you all more in our in our webinar in August and until then, be productive. Thank you.

Still have questions regarding your health insurance? Schedule a General Consultation Session with me today to discuss specifics.

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