Do You Have the Insurance You Need?

Do you take advantage of the insurance open enrollment period? Do you wish you understood your own insurance better?

This fall, Aflac recommends keeping an eye out to take advantage of your company’s open enrollment period, a time to make changes to your insurance. By overlooking details of our coverage and benefits options, we put ourselves at financial risk.

I remember being overwhelmed with the insurance choices when I worked as a subtitle editor for many years in Los Angeles. But I wanted extra protection, and if memory serves, I did have an Aflac supplemental insurance in the event I would be sick for a while without income coming in. Thankfully, I never needed it.

If I had a job that offers insurance, I’d take this time to educate myself about my family’s coverage and benefits option. You have to be your own advocate — that’s true in your job, in your health care, and also in your insurance choices.

The Aflac WorkForces Report (AWR) reveals that 56 percent of employees estimate they waste up to $750 because of mistakes made with insurance benefits elections. Nearly 1-in-4 respondents (24 percent) say they chose the wrong level of insurance coverage or benefits options they didn’t need.

The survey also found that consumers are on auto pilot when it comes to the benefits selection process and not aware of the options they have. Is this you?

89 percent say they simply elect the same benefits options every year.
65 percent of employees feel they are only somewhat prepared or not prepared for open enrollment.

I know it’s easy to neglect these kind of things, but having the right insurance is so important. If something happens to you, you want to know you and your family are taken care of. So have family discussions regarding your insurance needs, ask your employer for time to discuss benefits choices with an HR professional or insurance consultant, and be sure to review and study your company’s Open Enrollment Guide.

About Aflac: When a policyholder gets sick or hurt, Aflac pays cash benefits fast. In the United States, Aflac is the No. 1 provider of guaranteed-renewable insurance.

{I wrote this review while participating in a campaign by Mom Central Consulting on behalf of Aflac and received a promotional item to thank me for taking the time to participate.}