Monday, October 6, 2014

Researching our benefit options

October is a big milestone month for many people. It's the month that we transition to the fall with cooler temperatures and even busier calendars. We think about all things pumpkin, scarves and boots, hayrides and haunted houses, and watching the leaves turn into the beautiful rich colors of red, yellow, orange, and brown. Maybe even take a moment to jump in them with our children. It's the month before the big holidays sneak up on us, and not to mention the winter weather that always catches us off guard. But aside from the fun and excitement and beautiful weather, it's also often the month where people start thinking again about their benefits.
Open enrollment.
For years, open enrollment for my family meant logging into my work account, clicking the checkbox stating no changes to be made, and submitting my information for approval. For 6 years we had done that with not a single thought in mind---on my part. My husband tried to talk to me about switching, but for some reason I was convinced that we were in the best situation possible. Rates went up, policies changed, and we even went through 4 different insurance companies. Yet, I never put any importance at looking at researching and further understanding our policy. Last year, we decided to look further into my husband's employment insurance options, and after digging deeper, punching numbers on the calculator, and comparing his to mine, we realized that we had been making a huge financial mistake by continuing to click that little box year after year.
In fact, because of this, I probably cost my family thousands of dollars.
I was surprised to find out that I was not one of the only ones that has made this common mistake. A survey completed by Aflac on open enrollment found that individuals, on average {41 percent}, spent 15 minutes or less researching their benefit options. Another 24 percent spent 5 minutes or less. That was me. You know what other statistic I fell into? The 90 percent that were commonly "auto-enrolling" year after year.
We fixed that mistake quickly {not quickly enough}, and made sure that every year we sat down as a couple and reviewed the options available to us. Another thing we learned was that there were voluntary policies, such as Aflac, to help eliminate the financial stress that often times burdens families in medical situations.
Important Things to note about Aflac
A Fortune 500 company with individual and group voluntary insurance that provide protection to more than 50 million people worldwide with accident, dental, life, vision, cancer, hospital intensive care and more voluntary insurance policies.
It is available in all 50 states, including Puerto Rico.
Eight years in a row, Aflac has been recognized by Ethisphere magazine as one of the World's Most Ethical Companies, and was included in the Fortune magazine list as one of the World's most ethical companies.
Do you have questions about open enrollment? Click here for further information provided by Aflac WorkForces Report website.

I was selected for this opportunity as a member of Clever Girls Collective and the content and opinions expressed here are all my own.

1 comment:

  1. Glad that you've gotten yourself a good insurance plan that works for your situation. That would often depend on the components of your condition with respect to budget and what not, and it's always wise to have one that will tend to the potential worries in both. It seems you've gotten yourself set up well, which is just about right and all. It's always good to have a lot of health plans available for your particular needs.

    Donnie White @ Good & Associates Insurance Services


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