My husband recently got an awesome new job.
We are both so incredibly excited for his new job and his new opportunity but I’m dreading deciding which health insurance plan to pick.
The other day I was looking through all their options and was overwhelmed.
We are both extremely healthy so even though we rarely if ever see doctors, we know it’s critical to pick the right health insurance plan.
After he started, he brought home all of the details on the health care options his company offers. There were two separate packets of information, one containing the plan options and the second containing the prices.
The pages of charts and descriptions covered the seemingly endless options of companies, deductible options and co-pays. In addition, he had information on Health Savings Accounts and informed me how all of his new coworkers said how hard it was to decide for them which plan was for them.
We had our calculators out to help us decide which deductible was best to go with based on the premiums and the chance we will see the doctor. We went back and forth on a few options but about 90-minutes later, we finally made a decision.
Thinking back, I laugh at how complicated it was for us but the fact of the matter is that this decision was nothing compared to how complicated Medicare is.
If we made a mistake with his health care we have two things to fall back on:
- Time and,
- Ability to change next year.
Since we are still young, if we made a bad decision now, we luckily have plenty of time to make up for the costly financial mistake while still working.
Additionally, if we did make the wrong decision, we can always change it next year. Unlike Medicare where you can only switch if you fit into certain rules or are insurable.
Very few people realize how important it is to make the right Medicare decision the first time not only because of insurability rules, but also because most people cannot afford to make a costly health insurance mistake. That kind of mistake can put your retirement savings into severe jeopardy.
To easily make the right Medicare decision you can click here to sign up for our Medicare Enrollment Concierge.
