Health insurance is a necessary expense. But it doesn’t have to be quite as expensive as a lot of workers make it out to be.
Research from the Aflac WorkForces Report shows that 56 percent of workers waste as much as $750 per year on health benefits. Among the problems, 47 percent of workers say they rarely, if ever, exceed the deductible and only 16 percent choose the right amount for their flexible spending accounts.
Experts recommend that workers pay closer attention to what they’re signing up for. We’ll go a step further and recommend that you take full advantage of the help that your HR exec and the health insurance company itself is offering. Let them walk you through the options step by step until you fully understand what you’re purchasing. Don’t guess.
It’s also important that you keep an eye out for the changes that are happening in the health insurance industry. We have the Affordable Healthcare Act that will be going into effect and already there’s talk about the impact on small businesses and the options that will be available to more Americans. Moreover, there have been a wave of changes in the health insurance industry that may lead to changes in policies and coverage. Make sure you stay on top of those shifts. It may put more money in your pocket.
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