Two words that probably won't come up as a hot topic during your next dinner party; Open Enrollment. It is so important, we promise you a pay off for reading this article.
The good news here, choosing your health care coverage could be a lot less stressful this year. There are a couple of changes you need to know about: Because of the 2010 health care law, comparing health care plans should be a lot simpler. Information packets will now include simple summaries of coverage costs.That will make it easier to compare and contrast your company's plans. It will also be easier to compare those options with your spouses' plans and individual policies.
Women's coverage is about to get better too. Insurers must fully cover some preventive health benefits like annual wellness visits and contraceptive services. There is also coverage for things like screening for gestational diabetes, breastfeeding support and and help for domestic violence.
There are also more plans to choose from. Many employers will be offering more than the basic choice of individual or full family coverage.
New options will include "employee plus spouse" or "employee plus children".
But not everything is better. Flexible spending account allowances are shrinking. You'll only be able to set aside $2,500, pre-tax, to cover health care costs, down from the current $5,000 limit.
And because you've been promised a big pay off for paying attention to open enrollment -- the video above features kitten video.