I Can’t Believe Open Enrollment Will Be Soon

In a sign of how quickly the year is going by, we got an announcement about the open enrollment period for 2012 insurance.   They haven’t announced a date but they did announce some good news, and that’s that they are freezing premiums and co-pays (and in some cases, even lowering the co-pays) for next year.  They also said they will be lowering out of pocket maximums.

That’s definitely great news.  Last year saw a huge increase, though, way above market average, so honestly, this years freeze will probably just level things out to where they ought to be anyways.

We had considered going with an High Deductible Plan in 2011, but because we knew we were having a baby and the associated costs with that, we opted for the more traditional plan, which had higher premiums but also paid out more and had low deductibles.  If we anticipate that our medical needs will be lower in 2011, this could be a good way to go, especially depending on what they come out with for the out-of-pocket maximums.

I’ll keep you updated when the actual info comes out, but that is a welcome bit of good news (now, we just have to see if there will be any raises!).

How are things shaping up for your 2012 insurance enrollment?

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4 thoughts on “I Can’t Believe Open Enrollment Will Be Soon

  1. That's a pretty good idea to change your premiums as your needs change. I think many people stick with what they have just because they don't think to update it.

  2. It's nice that you get a year to breathe after last year's increases. I went with high-deductible plan because it's just me, and I won't be having a baby anytime soon, but I'm not sure what I'd pick in your situation.

    I know our high deductible plan doesn't cover any doctors visits except for an annual physical, and I'm sure baby will have several visits. Then again, my plan probably treats babies a a bit differently than adults… hm.

  3. Our premiums are going up again this year. My husband's job gives a 10% discount on health insurance if you fill out a bunch of questionaires and take some online courses about healthy living and such.

  4. This is a good time for people to go back and see what expenses were actually incurred in the past year, to help make a more informed decision about insurance needs for the following year. This includes any pre-tax money set aside.

    Also, speaking of which, it's a good time to use any FSA funds set to expire at year end!

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