Get Ready for Open Enrollment - For What It's Worth - Comcast.net Finance

It's that time of year again. We're not referring to World Series time... or even ladybug season. Though, technically, we could be.

Rather, as the calendar moves toward November, we're coming up on the time Americans go through the annual ritual of making their health-care and other benefits choices for the upcoming year. Human-resources professionals and workers coast-to-coast lovingly refer to it as "open enrollment" -- your one (and in most cases only) opportunity to assess a menu of options vs. your individual circumstances and lock in everything from a health-insurance plan to dental coverage and your flexible-spending contributions.

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Will Junior need braces this year? Is it time for new eyeglasses? Will I dare decide to go "out of network" to find a doctor in 2010? The process requires equal parts analysis and crystal-ball gazing… but any way you slice it, this is an important exercise that could cost -- or save -- you and your family time, energy and money in the long run.

With that in mind, here's some news, tips and trends to be aware of as you embark on this year's journey through open enrollment.

Control Your Own Destiny

For starters, expect health-care costs to be higher in the coming year. No surprise there. But it's important that you refuse to simply take it on the chin without giving it any further thought.

In other words, be proactive in analyzing the choices before you. What worked for you and your family in 2009 may not make the most sense next year. And if you found yourself regretting some of the plan or contribution choices you made last November, that's all the more reason to make sure you do something about it this time around.

But don't just take my word for it. Lesley Alderman of the New York Times used the old gray lady to spell it out in black and white:

"If, like many people, you typically default to your current options, I have one word of advice: Don’t. Health insurance costs will be higher, and doing nothing could potentially cost you hundreds of dollars."

In her article "The Annual Task of Choosing an Insurance Plan," Alderman highlights some other trends to look out for. Among them: higher deductibles, a strong move toward generic drugs, and changes to -- and in some cases even a thorough auditing of -- dependent eligibility.

Though higher costs are a reality and in most cases there will be no way to escape getting less, paying more -- or both -- at least these warnings will reduce the sticker shock. The more you know going into open enrollment, the better-equipped you'll be to make the best choices for you and your family.

For Wellness' Sake

Another trend to look out for as you head into open-enrollment season and gird for 2010 is the rise of so-called wellness plans. These days more companies are taking the old logic of health-maintenance organizations one step further and encouraging healthy behaviors and habits.

That's right, it may be possible to actually make some money through this whole process. By incentivizing behaviors like exercising or quitting smoking, companies aim to reduce their overall health-care costs -- and have happier, healthier workers to boot. Not only can these offers help you get and stay healthy, but you may also get a little extra cash in your wallet in the process.

Marketwatch's Kristen Gerencher highlighted some examples earlier this week in her article "Locking in Employer Health Benefits for 2010." At technology giant Intel Corp., for example:

"By doing a biometric screening, taking a health risk assessment and meeting with a third-party health coach now through 2010, workers can get 'preferred pricing' on their premiums for 2011."

So it'll definitely cost you time. And it could even cost you a little bit of blood to earn a discount. But hey… at least it's something, right?

Open Mouth, Insert Foot

OK, so this last bit isn't directly related to open enrollment and selecting your health coverage for 2010. But it's certainly interesting and sheds some (not-so-kind) light on the insurance industry.

After all, knowledge is power. And as Americans swing ever more toward the latter in their love-hate relationship with insurance providers, it can be helpful to keep these "enemies" even closer than friends.

With that in mind, Marketwatch's Bao Ong recently revealed tips and tricks that could make all of your dealings with insurance companies run more smoothly. Whether it's an auto, homeowners or medical policy, saying the wrong thing apparently can cost you plenty.

According to Ong:

"For... countless people who file insurance claims each year, apologizing is among a host of other habits that should be avoided, insurance experts say. There are 'wrong words' that people should avoid when filing legitimate insurance claims. What you say can be the difference between a check arriving smoothly or a drawn out battle."

So forget what your mom said about manners. In the world of insurance claims, "I'm sorry" is off limits. For more do's and don'ts head on over to Marketwatch.com and check out the full article, "Slip of the Tongue."

Are you expecting significant changes in your employer's health-coverage options? Do you feel you're ready for open-enrollment season? Share your story.

-- The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

Message Edited by Anthony_Catalano on 10-26-2009 11:10 AM