Health care open season

Time to choose health care benefits, which can be just as scary as ghosts and goblins!

What is scary is the skyrocketing number of people every year who file bankruptcy due to making the wrong choice during open enrollment - the number one reason for bankruptcy in this country is health care costs - and having the right individual and/or Family coverage or plan could help consumers avoid this peril.

Whether currently enrolled in a health care plan or enrolling in a new one, there is no question that insurance language and enrollment terms can be somewhat confusing to navigate.

A Blue Cross and Blue Shield representative is available for on-air, live interviews and will provide quick tips to help consumers choose a plan that is right for them, as well as what traps to avoid.

Below are a few tips to follow for Open Enrollment, as well as when choosing a new health care plan.

Tips for Open Enrollment

Do your homework and take advantage of the tools given to you

Be a smart shopper. Just like when you buy a car or a home, you should do a lot of research beforehand.

Be sure to thoroughly review your enrollment materials even if you're not changing health plans. These materials include health plan information, provider directories and enrollment instructions. Many health plans have detailed information available on their Web site.

Benefits can change year-to-year and it is important to be aware of how these changes may affect you.

Understand and learn what basic health insurance terms mean

Be sure to understand basic health insurance terms - research them online or ask your company's benefits representative.

Some important items to know are: The difference between copayment vs. coinsurance? What does deductible mean? What does it mean to seek "out of network" services?

Determine what's best for you and/or your Family

Don't blindly reenroll for next year based on what coverage you had this year. Family circumstances may be different. The covered benefits may have changed for some plans or your employer may be offering new options.

·Take into consideration other events that may occur in the next year—like having a child or if you will have to deal with a chronic condition like diabetes.

·You may want to consider a Consumer-Driven Health Plan over traditional Health Maintenance Organization and Preferred Provider Organization options. CDHPs include Health Savings and Health Reimbursement accounts, which give more control on how you spend your health care dollars.

Verify that your physician and hospital are part of the network for the plan you are choosing

This is very important if your plan options are from a different health insurance company or if you switch to a different health plan offered by your employer.

Many physicians participate in multiple networks, so the odds are good, but to be sure look on a health plan's Web site or in the provider directory.

Take advantage of your dependent and health care flexible spending accounts, if appropriate

Dependent care FSAs helps you pay for childcare and other dependent care expenses in a tax-effective way, by electing to contribute a portion of your before-tax income to a spending account.

Health care FSAs are similar, but help you pay for health care expenses, like copays and prescriptions funds, with before-tax income.

Don't miss the deadline!

It is important to pay attention to the deadline for submitting your open enrollment choices. If you don't make your choices by the time the open enrollment period ends, you may miss out on the opportunity to secure or change health care benefits from your company.

Plus, if you wait until the last minute, you may not have time to do the research that will help you make the best decision for you and your Family.

About Blue Cross and Blue Shield of Georgia:

Blue Cross and Blue Shield of Georgia, Inc. and Blue Cross and Blue Shield Healthcare Plan of Georgia, Inc. are independent licensees of the Blue Cross and Blue Shield Association® . The Blue Cross and Blue Shield names and symbols are registered marks of the Blue Cross and Blue Shield Association. Additional information about Blue Cross and Blue Shield of Georgia is available at www.bcbsga.com.