This post is sponsored by Aflac. I was compensated for writing it, but all opinions are 100% mine.
Did you know that during health insurance open enrollment that the majority of Americans rush through the enrollment process rather than researching the insurance plan that they choose? Listen, I get it! You aren't the only one that finds researching insurance tedious and boring. However, this is costing Americans up to $750 per year because they aren't familiarizing themselves with their benefits options and making choices that meet their unique needs. A lot of individuals just continue the same insurance they had the previous year. This is a habit that you need to break. Every year your life changes. This means that your benefits change. Get the best bang for your buck and get the insurance that you deserve! For most companies, Fall is when open enrollment season begins. This is your time to review the benefits your company offers and choose the policy that best fits your personal financial and health care needs.
I know you're thinking, How do I choose the right insurance for me?
Well, first of all, you need to ask yourself, are you prepared for an emergency? If something major happens, are you really protected? The majority of people who don't research before committing, find out when it's too late that their insurance doesn't offer the coverage that they need.
55% Millennials are not taking into account the important factors when choosing benefits and are spending less than 15 minutes before committing to a policy.
Yes, Millennials are the most guilty of not doing their research. In fact, according to the Aflac WorkForces Report, over half of them are still choosing a major medical plan based plan based on factors that have very little to do with the total cost of care that they are responsible for. While most of them are concerned that they wouldn't be able to afford their co-pay or other expenses, they still do not factor this into their decision when choosing insurance coverage.
Why is voluntary insurance worth considering?
First of all, many voluntary insurances, like the Aflac Hospital Insurance, pay cash benefits, such as groceries, child card, lodging, and parking at the hospital. No major medical insurance would ever help you like this! Voluntary insurance is a major part of health care, especially for millennials who are often in denial about being diagnosed with a serious illness or a disability. Voluntary insurance policies such as accident, critical illness, and hospital, help to protect millennials from high out-of-pocket costs that major medical insurance is not designed to cover.
If you're shopping for voluntary insurance, Aflac is the way to go. They offer a number of services that major medical insurance companies do not. Save money instead of time, with Aflac.
I was selected for this opportunity as a member of Sway Group, and the content and opinions expressed here are all my own.
This post may contain affiliate links and/or promotional products, all opinions expressed are that of But First, Joy only. Read my full disclosure.