Health insurance is one of those things many people don’t think about until they need it. But when Open Enrollment arrives, taking the time to review your options can make a meaningful difference in both your healthcare experience and your budget.
With Open Enrollment for 2027 underway, now is a good opportunity to ask an important question: Does your current health insurance still meet your needs?
Your Current Plan May Not Be Your Best Option
It’s tempting to renew the same health insurance plan year after year, especially if you’ve been generally satisfied with your coverage.
However, insurance plans can change. Monthly premiums may increase, deductibles may be adjusted, and provider networks or prescription drug coverage may look different from the previous year.
Your personal circumstances can change, too. Perhaps you’ve started a new job, added a family member, developed new healthcare needs, or simply want to manage your expenses differently.
Reviewing your coverage annually helps you understand whether your existing plan remains a good fit.
Look Beyond the Monthly Premium
The monthly premium is often the first number people compare when shopping for health insurance. While it’s important, it doesn’t tell the whole story.
A plan with a lower monthly premium may come with a higher deductible or greater out-of-pocket costs when you receive care.
Before selecting a plan, consider:
- Deductible: How much you may need to pay for covered services before certain benefits begin.
- Copayments: Fixed amounts you pay for specific covered services.
- Coinsurance: The percentage of covered costs you’re responsible for after meeting your deductible, when applicable.
- Out-of-pocket maximum: The annual limit on what you pay for covered, in-network services that count toward that limit.
Understanding these costs can help you compare plans based on your expected healthcare needs rather than the monthly premium alone.
Check Your Doctors and Prescriptions
If you have preferred physicians, specialists, or healthcare facilities, confirm that they participate in the network of any plan you’re considering.
It’s also important to review prescription drug coverage. Medications may be placed in different pricing tiers, and some plans may have restrictions or additional requirements.
Checking these details before enrolling can help prevent unexpected expenses or disruptions in care.
Consider What the Coming Year May Bring
Although no one can predict every healthcare need, some expenses can be anticipated.
Are you planning a procedure? Managing an ongoing medical condition? Expecting changes in your family?
Think about how frequently you typically use healthcare services and whether your plan’s benefits align with those needs.
Know Your Enrollment Window
For most individual Marketplace plans, Open Enrollment begins November 1, 2026. The closing date varies by state. Some people may also qualify for a Special Enrollment Period following certain life events.
Employer-sponsored health insurance plans follow enrollment schedules established by the employer.
Be sure to verify the enrollment dates that apply to your particular coverage.
Make an Informed Decision
Choosing health insurance doesn’t have to mean navigating complicated terminology and plan comparisons on your own.
At Benefits Tower, we believe understanding your options is an important part of choosing coverage that supports your health, lifestyle, and financial priorities.
Have questions about your health insurance options? Contact Benefits Tower to discuss your coverage needs and explore available solutions.