Annual Enrollment is just around the corner, and it’s best to be prepared so you know what benefits to choose when it’s time to enroll. Here are some good things to know and do before Annual Enrollment starts on Oct. 27.
Review Your Health History
Take a minute and ask yourself what your health looked like over the past year. If you visited the doctor often or needed a lot of prescriptions, you may want to consider a different medical plan than if you only went to the doctor for your yearly checkup. Remember, Rockwell has two medical plans to choose from—the HSA Option and HRA Option.
The accounts that come with these plans—Health Savings Account (HSA) and Health Reimbursement Account (HRA)—are a great way to help you pay for medical expenses. You can also use Flexible Spending Accounts (FSAs) for your medical, dental, vision and dependent care needs. And don’t forget about these important advantages:
- The HSA and FSAs allow you to save money tax-free.
- The money in your HSA rolls over each year, as long as you stay in that plan.
It’s also a good idea to plan ahead. Are you anticipating any major care like a surgery or repeat visits due to a chronic condition? If so, you’ll want to take this into consideration when deciding which health plan is best for you.
Search for In-Network Providers
Before you enroll in a Rockwell medical plan, make sure you search for providers within the UnitedHealthcare (UHC) network (UHC administers both medical plan options). Going to in-network providers saves you money, and your preventive care will be 100% covered.
As you search for in-network providers, it’s also a good idea to look for Tier 1 doctors. These doctors offer top-notch care at the best cost. Go to UnitedHealthPremium.com to see where they’re available and which specialties are included.
Decide Who You’ll Cover
Benefits aren’t just for you—they’re for your loved ones, too. You can cover your eligible spouse/domestic partner and/or children under your benefits. This is a good thing to know ahead of enrollment because costs of the plans will vary depending on how many dependents you enroll.
Don’t Forget Your Furry Friends!
Rockwell Automation is offering Pet Insurance for the first time in 2019. Be sure to review this option if you have pets.
Track Your Health Management Program Progress
Have you completed all or part of the Health Management Program (health screening, health questionnaire and Take Action activities)? If you do so before the end of the year, you’ll save money on your 2019 medical premiums.
Ensure Your Income is Protected
Enrollment is for more than just your core health care benefits. Other benefits like disability coverage and life insurance can help you stay afloat if life takes a left turn. You may think you don’t need to be covered, but think again—nearly one in four people currently in their twenties will experience a disability in their lifetime.1 You never know what life will bring, so Short-Term Disability (STD) and Long-Term Disability (LTD) coverage can come in handy. And if something were to happen to you, supplemental life insurance gives your loved ones a bigger financial safety net.
Think About Where You’re at in Life
Take a moment to think about the stage of life you’re in and what you know will be coming soon. If you’re considering buying a home in the near future, the MetLife Auto & Home benefit may be a good buy. If you’re early on in your career, maximize the 401(k) match to have plenty of income when you retire. If you have young kids or elderly parents, you might want to check out the Dependent Care Flexible Spending Account (FSA) so you can save tax-free for those expenses.
Take Time to Read Your 2019 Annual Enrollment Guide
Read the 2019 Annual Enrollment Guide to get up to speed on your benefits before you enroll. The guide will be posted on the home page of raquickfind.com this fall before Annual Enrollment begins. You’ll also be able to find it using the search function.
