Health Insurance Guide

Choosing the cheapest plan without calculating total costs

A $200/month plan with a $7,000 deductible may cost more than a $350/month plan with a $1,500 deductible if you have any significant healthcare needs. Add premiums + expected out-of-pocket costs.

Not checking if your doctors are in-network

Before enrolling, verify that your PCP, specialists, and preferred hospital are in-network. Out-of-network costs can be 2-5x higher, and some plans provide zero out-of-network coverage.

Ignoring the HSA when eligible for an HDHP

The HSA's triple tax advantage is unmatched. Even if you do not max it out, contribute at least enough to cover your deductible. Let the money grow tax-free for decades.

Missing open enrollment deadlines

ACA marketplace open enrollment runs November 1 - January 15. Employer enrollment is typically in the fall. Missing the window means waiting until next year unless you have a qualifying life event (marriage, birth, job loss).

Not reviewing your plan annually

Insurers change networks, formularies, and prices every year. The best plan last year may not be the best plan this year. Spend 30 minutes comparing options during open enrollment.