Fall has a way of reminding us to prepare.
We winterize the house. We put away the summer gear. We make plans for the holidays ahead.
For many families, fall also brings another important annual decision: Open Enrollment.
For many employer-sponsored health plans, Open Enrollment takes place sometime in October or November.
If you purchase private health insurance through the Federal Marketplace:
Open Enrollment for 2027 Health Insurance
November 1 - January 15
Medicare's Annual Open Enrollment
October 15 - December 7
It's easy to look at last year's benefits, click "renew," and move on.
But a lot can change in a year.
DOES OUR COVERAGE STILL FIT OUR LIFE?
What’s changed this year?
Maybe your family has grown.
Your health needs have changed.
You're taking different prescriptions.
Your income looks different.
You’re anticipating a medical event next year.
Or perhaps you've simply never taken the time to understand what you're actually paying for.
DON'T JUST LOOK AT THE PREMIUM
Consider the entire picture:
Premiums | What will coverage cost throughout the year?
Deductibles & Out-of-Pocket Maximums | How much financial responsibility could you carry in a difficult medical year?
Doctors & Prescriptions | Are the providers and medications your family relies on still covered?
HSA Eligibility | If a Health Savings Account is available, could it play a larger role in your financial plan?
The question isn't simply, "Which plan costs less?"
Ask Yourself:
“Which option makes the most sense for our family, our health, our cash flow, and the financial risk we're comfortable carrying?”
HEALTH INSURANCE IS ONLY ONE PART OF THE SAFETY NET
Life Insurance
Would your family have enough resources to replace lost income, pay debts, remain in their home, and continue moving toward the future you've planned together?
Estate Planning
Do you have current documents that communicate your wishes? Have you named the people you trust to make financial and healthcare decisions if you're unable to? If you have minor children, have you documented whom you would want to care for them?
Beneficiary Designations
Do the beneficiaries on your retirement accounts, insurance policies, and other accounts still reflect your wishes today?
Emergency Reserves
Could your household absorb an unexpected medical bill, interruption in income, or other financial surprise without disrupting the rest of your plan?
Use this season as a reminder to review your financial plan.