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Timely Tips for 2015 Health Insurance

Kim Lankford

with Kimberly Lankford, Contributing Editor – Kiplinger’s Personal Finance, Columnist for “Ask Kim”, Author of The Insurance Maze: How You Can Save Money on Insurance-and Still Get the Coverage You Need

Healthcare insurance offerings, coverages, plans and payment tiers change every year, so with open enrollment ending February 15, 2015, all of us still have time to make changes to our healthcare insurance policies for 2015. After 2/15, when open enrollment expires, you’ll only be able to change plans if you have a life-changing event such as a relocation, a new baby, etc.

But a lot of people, especially younger folk, take their health insurance lightly and don’t really check to see if they might be impacted by plan changes or doctor coverage, or shop around for better rates and coverage. People also tend to pay little attention to their deductibles and out-of-pocket prescription costs, or fail to consider using less-expensive generic drugs – which can add up significantly if you have a serious medical condition. So now is a good time to spend at least half-an-hour on understanding your coverage, prescription drug and premium options.  And with tax season underway, you’ll pay the fee on the federal income tax return you file for the year you don’t have coverage.

I've been an investment strategist and adviser for over 35 years, leading with a mission of unbiased advice to educate and protect listeners on my weekly radio show on NPR affiliates nationwide. I have been named a “Top 100 Wealth Advisor” by Worth Magazine and “Top Advisor” by Reuters.