Fall is open enrollment season for the employees of many companies. This is generally the one chance during the year that employees are allowed to make changes to their benefits. As you are undoubtedly aware Obamacare comes online in 2014 with the health insurance exchanges in many states up and running on October 1 of this year. While this directly impacts those without health insurance through their employers, it is having a profound impact on the health insurance coverage offered by many employers to their workers as well.
Don’t assume things are the same
Walgreens is establishing a private health insurance exchange for its workers to keep benefits costs in check. While your employer may not be doing something this drastic they are likely taking steps to keep costs down. What this means to you is that you can’t assume that electing the same level of health insurance coverage as last year will yield the same costs and benefits. Read all of the fine print associated with your health insurance and all of your benefit options ensure that you are making the best choices in this brave new healthcare world.
Read the full report here.
Source: The Smarter Investor, US News