Every September, Hubby and I brace ourselves when it is time to pick up my monthly medications. We never know what the health insurance is going to charge us for as the deductible and my medicine (only one prescription) can cost quite a bit on it's own. This month, we made sure that we had at least $100 when it was time to pick up the bottle of pills that keeps me going every month…only to find out that it was less than $30!! Score!!
More than 6-in-10 consumers (61 percent) are only sometimes or not at all aware of changes to their policies each year. *
Each year when my company has an open enrollment period, I don't attend the meeting and I don't pay attention to what is changing. I figure that I know what works for my family and my budget and I don't want to rock a boat that is sailing so smoothly.
Supplemental Health Insurance
When my husband was less than a year into his current job, he sustained a stress fracture to his foot and had to be out of work for eight weeks. He was not considered full time and had no benefits. Luckily, we had insurance coverage for him through my job and there was some worker's compensation involved, but we struggled a lot during that time. We weren't receiving his income, he was home all day which created extra expenses, and we had to drive almost an hour one way to the specialists who were working on his foot. These expenses on top of having a little one and my stress of being "basically" a single parent with regards to physical tasks, were completely unexpected. The financial stress could have been reduced if we had supplemental insurance.
My former employee utilized Aflac for supplemental insurance and I participated, but thankfully, never had to use it. I know the benefits and I would gladly join up again. While my own employer has already completed open enrollment, I know that my husband's company is about to enter that time again. He is now full time and has insurance through both of our employers so we are always looking out for the best deals and how we can keep our family safe for instances such as we had early on in his career and our married life.
* Aflac Workforces Report – The Aflac WorkForces Report is an annual employee benefits study examining the forces impacting the trends, attitudes and utilization of employee benefits. Surveying both American workers and business decision-makers, the Aflac WorkForces Report reconciles the perceptions and realities of benefits in the workplace. The insights aim to help businesses make informed decisions about benefits to better protect their employees and their bottom line.