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Open enrollment allows for health insurance changes

Posted On Wed, November 4, 2009

Consumers are always looking for ways to save on health insurance and open enrollment can allow them to change their employer-provided coverage and keep a bit more money in their pocket.

According to a recent story from CNNMoney, people who are taking part in their employer's health insurance plan may notice that premiums are lower while deductibles have gone up. Rather than stick with the plan they have, the report from the news organization encourages people to compare options.

"Don't default to your current plan: compare co-pays, premiums and deductibles for each option and estimate out-of-pocket costs," the story from CNNMoney stated.

Furthermore, employees should consider using pretax, flexible-spending accounts. When contemplating this option, people may base their contribution on the out-of-pocket expenses they had in the past year.

According to the Insurance Information institute, there are a number of other things people can do in order to save money on health insurance. Along with opting in to group plans provided by employers, having a healthy lifestyle can cut down on medical expenses by reducing costs.

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