With open enrollment on the horizon, many employees may be considering changes to their health plan. In order to make an informed decision, it’s important to have a clear understanding of common health care terms. To help make these definitions easier to understand, we’ve grouped the most common terms into 6 categories that all employees should know going into open enrollment.
Choosing a health plan that’s right for your business and your employees has never been an easy task, even under normal circumstances. But as the COVID-19 crisis unfolded, business teams responsible for benefits decisions have realized a host of new challenges that can make this process even more daunting. To help you make an informed decision about your health insurance during this uncertain time, we created a guide that will walk you through your annual health plan renewal, with help from your benefits advisor.
Open enrollment sneaks up on many employers. For small to mid-size business owners who wear multiple hats during the year and have a small or even no HR department, that annual time to choose health insurance can creep up especially fast.
Topics: Open enrollment guides
Open enrollment is in full swing, which means it’s time for employees everywhere to review their options and choose a health plan for the year ahead. This can be a stressful process involving new terminology that may leave you with questions even after you look them up. Our new guide to choosing a health plan can help employees and health care consumers looking to make sense of this complex decision.
If you’ve ever spent time comparing health plans, you know no two plans on the market are exactly alike. One carrier alone might have over 50 slightly different plans, and even “standardized” naming conventions aren’t consistent across the board. From network access to deductibles, copayments, and covered benefits, there are a number of factors that influence the cost and perceived value of a given plan.