30 Second Insurance Tips©

Tip 241- Utilization Matters, Too

From the last couple of Tips, you’ve no doubt noticed our preoccupation with the Open Enrollment Period (11/1 through 1/31) and helping individuals find the right coverage for 2016.Dale, for example, was in our Mequon ‘store’ this week. In the course of our visit, we asked absent any surprises, how much care he expects to use next year. He answered that his only encounter with healthcare this year was a routine exam. But, he had also scheduled a surgical procedure (elective) for December; one that might cost about $3,000.

I suggested that if he could, he might consider rescheduling that procedure for early 2016. Since he was buying a $3500 HSA Plan, he’d just about satisfy his entire deductible and have 100% coverage for the remainder of the year.

Like Dale, there are countless situations (having a baby next year?) where consumers need to factor in how they plan on using their coverage before picking a plan design and premium. Seems kind of obvious, doesn’t it?

Sometimes we just need to be reminded.