How To Make the Best Choices for Your 2009 Health Benefits

CLEVELAND, Oct. 9 /PRNewswire/ -- This is the time of year when working men and women have to sit down and choose the best possible health insurance plan for themselves and their families.

Open enrollment season is here. It is a time for careful and thoughtful planning, cautioned Perry Braun, vice president of Sales for Medical Mutual of Ohio.

"The best advice I can offer is to simply take your time," said Braun. "Evaluating health plans can be a bit overwhelming, but the downside of not educating yourself can be expensive," said Braun, who added that an estimated 90 percent of health-insurance shoppers fail to read the open enrollment materials closely.

"People will look at this as a short-term decision and then next year they may elect to change again," said Braun. "It is important to realize that a lot can change in a year's time and they need to be realistic about their decisions right now."

According to Braun, there are a number of important factors people need to consider when weighing the health insurance options offered by their employer:

Personal Needs: What level of benefits do you need? A good place to begin is by looking at your medical history and lifestyle. It is important to find a plan that gives you and your family the flexibility it needs.

Consider the payroll deduction or cost and consider out-of-pocket expenses such as:

Deductibles, the amount of covered expenses that you must incur before benefits become payable by your health insurance company.

Copayment, a dollar amount as specified in the schedule of benefits that you are required to pay at the time covered services are rendered.

Coinsurance, the amount of cost that you share with your health insurer after the deductible is met.

Braun said a higher deductible always means a lower premium. "Consider your medical needs and how often you go to the doctor or hospital when choosing the level of deductible. For instance, a healthy person may want to consider a higher deductible. An additional key factor is to look at the total out-of-pocket expense you are willing to pay."

Braun said that many health plans that have high deductibles also include savings or spending accounts. "It is important to understand not only the cost portion of your benefit plan but also if there is a savings account or spending account so you can budget and plan appropriately."

There are many online tools that are available to assist a member in the planning process. Tools that allow a member to understand their health condition, to tools that provide estimated costs of what a particular service or surgery may be.

Although the task of evaluating health plans may seem daunting, the return on investment will be well worth the time.

"The ultimate goal," said Braun, "is to maximize your benefits and minimize your out-of-pocket expenses."

Founded in 1934, Medical Mutual ofOhio is the oldest and largest health insurance company based inOhio. The company serves its customers through high-quality, affordable group and personal health insurance plans, and third-party administrative services to self-insured group customers. Based in Cleveland, Medical Mutual also has offices inColumbus,Cincinnati,Toledo, Akron,Dayton andYoungstown. For more information, visit the company's award-winning Web site at www.MedMutual.com .

SOURCE Medical Mutual ofOhio

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