![]() ![]() Renew or shop for your Affordable Care Act health plan Your benefits are ultimately part of your compensation, and not taking advantage of them is essentially leaving cash on the table. Regardless, Madden advises taking a proactive approach when electing benefits by putting in the work to understand your options. That way, you’ll be able to estimate whether to scale back your benefits and lower your premium, or upgrade your plan if you need more coverage. Did you get the right amount of mileage out of options you chose, or did you overestimate how much coverage you would need? Maybe you visited the doctor more often than anticipated or had high prescription costs.Ĭonsider your health care needs over the last year and factor in what major life events you expect in the next 12 months, like having a child or getting surgery. Those who plan to renew their employer-sponsored health insurance should take some time to review their current plan. "Benefits are a critical part of every employee’s financial wellness toolkit as they can help to support their financial health both now and in the future," Jamie Madden, senior vice president of Workforce Engagement and Benefits Connectivity at MetLife, said in an email. ![]() Almost half said they didn't understand how their benefits impact their finances. The youngest workers - many of whom are just starting to transition out from under their parents’ health insurance to plans through their employers - may want to pay extra close attention: 3 in 10 Gen Z respondents to the MetLife survey said they regretted the benefits decisions they made last open enrollment season. That's the lowest satisfaction rate in 10 years. In 2023, the share of employees who were satisfied with their benefits fell to 61%, down from 64% the previous year, according to life insurance company MetLife’s annual benefits trends study. Whether you’re renewing your benefits or enrolling for the first time, pay close attention when you’re reviewing and selecting your options. If you’re insured or would like to be insured through your workplace, this is the time to sign up for health, dental and life insurance coverage, as well as any ancillary benefits offered by your employer. It’s officially open enrollment season, a period of one to four weeks (typically) when workers at many companies are able to sign up for or change their employer-sponsored benefits. ![]() Hawaii Alaska Florida South Carolina Georgia Alabama North Carolina Tennessee RI Rhode Island CT Connecticut MA Massachusetts Maine NH New Hampshire VT Vermont New York NJ New Jersey DE Delaware MD Maryland West Virginia Ohio Michigan Arizona Nevada Utah Colorado New Mexico South Dakota Iowa Indiana Illinois Minnesota Wisconsin Missouri Louisiana Virginia DC Washington DC Idaho California North Dakota Washington Oregon Montana Wyoming Nebraska Kansas Oklahoma Pennsylvania Kentucky Mississippi Arkansas Texas View Rates 1. ![]()
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