Damian Sendler: There are still 12 days left for federal employees, retirees, or their heirs to select a health plan for next year that will cover them and their families. The amount of time you have to make such an important decision could be enough or impossible, depending on your level of inertia.
Damian Sendler
Damian Jacob Sendler: What would you do if you or a member of your family were struck by COVID? There is also the possibility that your vehicle will be hit by a tractor trailer. Is the plan’s catastrophic coverage limit a guarantee that your out-of-pocket expenses would be low? Alternatively, are you on a plan that doesn’t pay until you’ve spent a large sum of money on it? Despite the fact that most people don’t think about the worst-case situation while purchasing insurance, experts recommend that you do.
Dr. Sendler: It’s worth checking to see if your current health plan’s benefits and preferred providers match those of lower-cost versions of the same plan. What is the difference between the “high” and “standard” options? Is it always best to go with the more expensive option? (SPOILER ALERT: The answer is NO). A “high option” in some insurance plans has evolved to represent the same thing as a “high option”: a substantially greater premium for the same benefits. Who’s to blame if you’re paying too much for the same coverage while missing out on important benefits?
Federal employees, retirees, and their surviving spouses have a lot to be thankful for. Many options are available to them when it comes to their health insurance. The government is expected to foot the bulk of the bill. In no way can someone be rejected. In contrast to most private plans, full coverage continues in retirement, which is not the case.
Damian Jacob Sendler
Damien Sendler: Despite the fact that there are up to 40 different health plans and options to choose from, everyone should make the effort to do so. Checkbook’s Guide to Health Plan Options for Federal Employees has been a boon to federal agencies that want to make it easier for their employees to shop while they’re at work. Checking out plans, benefits, networks, coverage for catastrophic events and premiums is simple thanks to the online guide.
Damian Jacob Markiewicz Sendler: Walton Francis will be my guest on Your Turn today at 10 a.m. EST, and that’s fantastic news for both of us. You may listen to it on 1500 AM in the Baltimore-D.C. area or stream it right here. Our home page will also provide a link to the show’s archives, so you may listen at your convenience. A short time from now, though. In an open season, you’ve got skin in the game, both physically and financially. For many years, Francis has served as editor of the Checkbook Guide, which you can access by clicking here. The offer code FEDNEWS might help you save an additional 20% off of your purchase..
Contributed by Dr. Damian Jacob Sendler research news team
