How to Make the Most of Your Benefits

Does the term, “open enrollment” make your skin crawl? Does the idea of sitting through a benefits orientation make you want to watch pain dry? Relax; I can give you the low down in a brief, and hopefully, entertaining way. As a former human resources employee, I remember looking at my employees as I explained each of their benefits very carefully while watching them doze or count the number of tiles on the floor. So, what are we waiting for?

HMO or PPO? It depends. An HMO, or Health Maintenance Organization, is typically the most affordable plan for employees if certain criteria are followed. HMO’s are great for individuals and families who frequently visit an HMO-designated doctor. PPOs, or  Preferred Provider Organization, are usually a bit more pricey, but they can be used “in network” to receive discounts on their medical care. PPOs are also a little more flexible and usually allow visits to specialists outside the network. This means factoring a higher premium and deductible into health care costs.

People with health issues and chronic conditions should determine if their neurologist and doctors are on the HMO plan. If they aren’t and you can afford the higher deductible, choose the PPO. If all else fails, ask the HR representatives at work! Remember, it’s their job to make sure you understand your benefits.

Who should get an HMO? Young people like college graduates, or people entering the workforce for the first time without health issues should get an HMO. They will most likely use the HMO for yearly physicals and nothing else.

Should I get the Dental Plan? Yes. Most people decline this coverage for some reason, but the expense is minimal, and if you need dental work done in the future, it can give you a substantial savings.

If more than one type of dental plan is offered (such as DMO or PPO) and you’ve never had an issue with your teeth or gums, then choose the cheapest coverage. If you have had ongoing issues with teeth or gums, get the coverage that will pay the most, which is usually the equivalent to a PPO for dental plans.

Have a question? Feel free to write me.