Family Finance: What to look for during open enrollment season | Health

By Cyreia Sandlin - email

SAVANNAH, GA (WTOC) - Open enrollment season is well underway, but you still have plenty of time to pick the coverage best for you.

A survey from AFLAC says a little more than half of workers waste up to $750 a year because of mistakes made during open enrollment. Experts say in order to save money, it is crucial to know what you're looking for while picking a plan.

The first thing to do when picking a plan is calculate your yearly medical expenses. Ask yourself how many times you've visited the doctor in the past year, and how much your prescription medicines cost. This gives you an idea of how much to contribute to flex spending accounts.

Next, AFLAC suggests you look for any changes of to your current policy to prevent mistakes later on that could cost you.

Also, check to see if spouses or dependents are covered, as some plans include them and others don't.

Lastly, evaluate each plan's premiums and deductibles.

Open enrollment for Medicare ends Dec. 7. For more tips check out the Medicare.gov blog or the NAIC website.

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