This month, you've probably noticed a lot of uneasy looks, nervous pacing and glazed eyelids at your respective workplace. It can only mean one thing: It's "open-enrollment" season for 2008 benefits.
Choosing a health insurance plan usually fluctuates from minor nuisance to agonizing deliberation for employees. If it seems like a tougher decision these days, there's a reason: the options are becoming more consumer-driven. Today, a Wall Street Journal column reports many employers are starting to offer high-deductible, low-premium plans with health saving accounts. At our station, that's certainly the case. In addition to the traditional PPO, we can now choose two different options which offers HSAs.
It's a new concept for a lot of people. Instead of the typical newsroom chatter about the Chiefs or that night's lead story, lately I've noticed my colleagues dissecting prescription lists and discussing deductibles. Our HR person told us it really comes down to risk. Take me, for example. I have no prescriptions and rarely make it into a doctor's office. It's probably a decent gamble to pay less on premiums and use the savings to build a HSA. However, I never know when that friendly game of hoops or indoor soccer could land me at the ER. Therein lies the risk.
Oh well, it could me much worse. At least Michael Scott isn't leaving your health-care coverage up to Dwight Schrute.
