Nearly half of Texans get health insurance through an employer. For many of them, annual open enrollment, when people can change their health insurance selections, often begins around Nov. 1. Exact dates vary by company and usually last a few weeks, so workers should check with their employer for deadlines.
Eligible workers typically receive a digital or physical booklet that lists updated premium costs, coverage and deductibles. Many employers offer several plans that differ in monthly cost and coverage.
The story explains several key terms. The premium is the monthly amount paid to stay enrolled, often deducted from paychecks. A copay is a fixed amount paid each time a service is used. The deductible is the amount paid out of pocket before the plan begins to share costs. After the deductible is met, coinsurance is the percentage of a service the patient pays. For example, a 20% coinsurance rate on a $2,000 surgery would mean $400 paid by the patient. Preventive care is generally covered at 100% from the start of the plan.