Open Enrollment Coming Up: Have You Chosen Your Health Plan?

It’s open enrollment season soon and health care insurance is a huge point of discussion at this time of year.

Philadelphia employees are lucky — they benefit from some of the best employer sponsored plans in America.

Or so it would seem, after all, Philadelphia employers pay more per employee on health care than employers in any other state in the country.

The average cost per employee for major Philadelphia companies is $12,898 this year and is expected to go even higher next year, reports The Philadelphia Business Journal.

What’s the reason for these higher costs?

For starters, the quality of Philadelphia employers could have something to do with the higher per-employee investment in health care. With the city housing numerous pharmaceutical companies as well as several law firms, The Business Journal writes, these types of companies offer good benefits packages to attract employees.

Another factor, The Business Journal notes, is the fact that there are many high quality hospitals in the area. And high quality health care comes at a price.

But health care plans change, as does the coverage network. What may have been covered one year by a health plan might not be covered the following year. As such, it becomes really important to check with the plan to find out which hospitals fall under the coverage network.

Also important are the costs. Pennsylvanians are gravitating towards plans with lower premiums and higher deductibles, writes The Business Journal.

For many Pennsylvania companies, open enrollment is coming up and employees can change their plans or make adjustments to their health plan.

With this in mind, Pennsylvania Insurance Commissioner Mike Consedine is urging Pennsylvanians to compare plans.

Plans can be changed during open enrollment but after that, most employees will be stuck with the plan they chose for the entire year.

Related Resources:

• Philadelphia Employment Lawyers (FindLaw)
• Do Employers Have to Provide Health, Retirement Benefits? (FindLaw’s Philadelphia Employment News Blog)
• Health Plans and Benefits (FindLaw)