Buyer’s remorse, even in the world of employee benefits, is a real concern. Nobody wants to feel trapped in a decision that doesn’t align with their needs. You want to select a health insurance plan that will support you and your family for the year. As you plan to chose your ICHRA coverage, the power lies in your own hands. Read further for some things to keep in mind, and don’t forget to schedule a call with one of our knowledgeable Enrollment Agents. We’re here to help.
Don’t Just Look at Premiums
It’s easy to focus on a plan’s monthly premium, but it’s only one piece of the puzzle. A low premium may be attractive upfront, but if it comes with high out-of-pocket expenses, it could cost you more in the long run. Be sure to consider other costs, such as:
- Deductibles
- Copayments and coinsurance
- Out-of-pocket maximums
Check Provider Networks
If you have preferred doctors or specialists, make sure they’re included in the plan’s network. Not all plans cover the same providers, so verifying this ahead of time will help you avoid unpleasant surprises when it’s time to schedule an appointment.
Review Prescription Drug Coverage
If you or your family members rely on prescription medications, make sure they are covered under the plan you’re considering. Check the the list of covered drugs to ensure your medications are included and note any potential out-of-pocket costs.
Don’t Wait Until the Last Minute
Give yourself time to review all the available options, ask questions, and think through your decision. Rushing through the process increases the chances of choosing a plan that doesn’t meet your needs, leading to potential regret.
Schedule a Call with an Enrollment Agent
- Personalization: Your health needs are unique. An advisor can help tailor your selections to align perfectly with your circumstances, potentially saving you money or providing better coverage.
- Clarification: An enrollment advisor can clarify any uncertainties you may have. They are there to provide guidance and ensure you understand your options fully.
- Avoiding Buyer’s Remorse: This brief conversation acts as a safeguard against buyer’s remorse. When you hit “Submit” at the end of the call, you can do so with confidence, knowing you’ve made an informed choice.
Finality of Selections
It’s important to understand that once you hit “Submit,” your choices are typically final for the enrollment period. Changes aren’t typically allowed unless you experience a qualifying life event. This underscores the importance of making well-informed decisions.
So, as you navigate enrollment, remember that our enrollment agents are there to guide you and ensure you make choices that align with your needs and preferences. They’re your partners in securing the best possible coverage for your unique circumstances.
Embrace the power of confidence in your benefits selections. When you hit “Submit,” let it be a satisfying click, knowing you’ve taken charge of your well-being. After all, your health and peace of mind are worth it.
