(CNN) – It’s that time of year for many employees open enrollment and picking out health insurance can be tricky.
There are HSA’s and PPA’s. Marketplaces and exchanges. There are many things to consider when picking out health insurance. First check your finances.
Look at what you spent on medical insurance coverage previously and how much you paid out of pocket. Then compare that with the frequency of your doctor visits. If you typically don’t go to the doctor too often consider a higher deductible plan.
Your monthly insurance premiums will cost less. But your co-pays and hospital visits could be more. If you have a lot of doctor visits or a pre-existing condition a lower deductible plan may be better for you.
Know your out-of-pocket maximum. Look at co-pays for visits or co-insurance to see how much extra you’ll spend to see your doctor. Make sure your doctors are considered in-network.
Typically seeing someone off your plan or out of network will cost more. If you have the option contribute to a health savings account or HSA. Money put into the account is tax- deductible.
In some cases employers can also contribute to your fund. And check your plan. Even if you are automatically enrolled for 2017, review your options because plans can change. Simple tips that won’t make you sick over health insurance coverage.