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Selecting The Right Health Insurance Plan With Aflac

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Selecting the right health insurance plan with Aflac

 

Selecting the right health insurance plan may be one of the most important decisions Americans will make this open enrollment period, yet many workers do very little research on their health plans. Have you done your research on health insurance this year?

Every open enrollment period my husband and I sit down and look over our current health plan, and any new options or options we had not considered before to see if we can save some money, or if we need any new benefits for our family. Many times we do end up staying with our current plan, but we have switched a few times to better suit our needs and save us some money, which everyone needs.

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The 2014 Aflac Open Enrollment Survey found that 41 percent of employees spent 15 minutes or less researching their benefit options during the 2013 open enrollment season; and nearly a quarter (24 percent) spent five minutes or less. Spending less than 5 minutes making a decision that can affect the rest of your year for your entire family seems a little crazy to me! People spend up to 2 hours just deciding what TV to buy!

Those who don’t set aside time to research their insurance options may make hasty benefits decisions and end up wasting money.The 2014 Aflac Open Enrollment Survey found that the majority (90 percent) of workers are “auto-enrolling” or keeping the same benefits year after year.And, four in 10 (42 percent) workers waste up to $750 each year on mistakes with their insurance benefits. You could buy a nice TV with those kind of savings right!?

So how can you make sure you are selecting the right plan for your family?

Take Advantage of Benefits Education Resources! 

  • Carefully review and compare all available benefits information. Take time to look up terms you don’t understand such as voluntary insurance, deductibles, out-of-pocket expenses and others.
  • Understand the financial implications your choices have on your budget. In addition to monthly premiums, make sure you can afford the yearly deductible costs. If a high deductible looks like it may be a burden, choose a plan with a slightly higher monthly premium and a lower deductible that may be easier to manage.
  • Ask your employer to arrange meetings with health care insurance agents or brokers to answer questions.
  • Attend on-site seminars, participate in webinars and read the relevant education materials.

It all comes down to education! Insurance is a big expense, and something every family needs. Sit down and take the time to really understand what you are getting into, what is being offered for the price, and what your family needs in terms of coverage.

The 2014 Aflac WorkForces Report shows the impact health care reform is having in the workplace, the growing importance of voluntary benefits to workers, as well as the correlation between good benefits and business success. The fourth annual AWR incorporates responses from 5,209 employees and 1,856 business decision-makers.

Things you should know about Aflac:

Aflac Incorporated is a Fortune 500 company providing individual and group voluntary insurance products that help deliver protection to more than 50 million people worldwide. For nearly six decades, Aflac insurance policies have given policyholders the opportunity to focus on recovery, not financial stress. The company’s voluntary insurance policies, which are designed to supplement major medical plans, pay policyholders directly for unexpected costs associated with a covered serious illness, injury or loss. In addition, the cash benefits can be used to help pay rent, gas, groceries, child care or any other out-of-pocket expenses a worker may have.Aflac offers accident, dental, life, vision, cancer, hospital intensive care and more voluntary insurance policies. Aflac also has a presence in all 50 states, and in Puerto Rico and the Virgin Islands. The company is also the number one life insurance company in terms of the number of individual policies in Japan! So you know they are a trusted company that is going to be there for you!

I was selected for this opportunity as a member of Clever Girls Collective and the content and opinions expressed here are all my own.

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Melissa

Wednesday 8th of October 2014

Sooooo many young people don't have health insurance and don't realize the implications of not doing so. It is sooo very important to have some kind of protection- for your credit and your self. Aflac is a great choice.

Rosey

Saturday 4th of October 2014

That's cool that there are cash benefits too. What a company to consider!

Chrystal @ YUM eating

Saturday 4th of October 2014

Aflac is a great program. When I worked out of the home I did payroll for large corporations and we had an Aflac agent on standby.

Krystal

Saturday 4th of October 2014

Insurance can be so confusing. I totally have to research now that my husband's open enrollment period is beginning!

Jeanine @ sixtimemommy.com

Saturday 4th of October 2014

I live in Canada so this isn't an issue for us, but I know how important it is for those in the USA. I have heard wonderful things about Aflac.

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