Doxcost - The Ultimate Guide To Health Insurance
Doxcost - The Ultimate Guide To Health Insurance
Reprise: Health Insurance Open Enrollment - Make It Simple

#022 – Reprise of Health Insurance Open Enrollment Make It Simple, Episode 2. Get ready for Open Enrollment now so that you have the fundamentals down….get out ahead….don’t wait until October when stress will be highest and you might make a poor choice.

For some employees, this show is quite timely because many employers have renewal dates on July 1st.  Ask your employer the date that your health insurance renews so you can be properly prepared!

Doxcost Episode 2

Get Health Insurance Plan Documents/Enrollment Kit from your employer to consider your options

Identify three key items:

  • Premium
  • Deductible
  • Coinsurance Rate

See example of table in Episode Two show notes at

Make certain you tell your employer that you want a plan that is eligible for a Health Savings Account (HSA).  Plans that are eligible for HSAs are called High Deductible Health Plans.  Don’t fear the high deductible… can be as low as $1,400 annually and still qualify for use with an HSA.

When considering your lowest cost options, you need to add all of your expenses.  Your expenses are all of the cash coming out of your pocket to pay premiums, deductibles, coinsurance AND taxes withheld from your paycheck!

Traditional PPO and HMO plans require that you pay tax to Uncle Sam first before you pay your deductible and coinsurance.

HSA eligible plans save you the same amount of taxes that traditional plans make you pay.  Depending on the plan, that could mean thousands of dollars you can save each and every year.

IRS detailed information on Health Savings Accounts

Thanks, as always, for your support.  Tell your family, friends coworkers about Doxcost.  If your employer needs help, I am happy to connect with them.

Tell your employer to contact me here (link to Doxcost contact)

Next episode I cover the benefits of getting your health insurance through your employer.

And if you like the music on Doxcost, hear more from my pal Morgan Fingleton, click here