Newspaper article The Topeka Capital-Journal

A Cure for the Rising Price of Health Insurance

Newspaper article The Topeka Capital-Journal

A Cure for the Rising Price of Health Insurance

Article excerpt

Whether you get your health insurance through your employer, Medicare or one of the Affordable Care Act (ACA) exchanges, there's a good chance you're paying more than you need to. According to a study last year by the National Bureau of Economic Research, 63 percent of the 50,000 employees at a Fortune 100 company selected a health plan that was not the most cost-effective option.

- The big mistake: Automatically re-enrolling in the same plan year after year.

The remedy: Review all the offerings each year; plan benefits change frequently. Participating doctors are added and deleted, and drug formularies -- the lists of prescription medications a plan covers -- are revised.

- The big mistake: Miscalculating -- or having no idea -- how much you spend on health care. …

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