YOUR GUIDE TO Open Enrollment

Your health insurance options may look a little different this fall. Meanwhile, the cost of coverage continues to climb.

- LISA GERSTNER

Workers who have access to group health insurance through an employer may see more virtual tools and services to help them evaluate and select a plan—especially if they’re working remotely. Those who are newly unemployed or self-employed may find themselves navigating the individual health insurance market for the first time.

COVERAGE THROUGH YOUR JOB

Large employers expect health care expenses, including insurance premiums and out-of-pocket costs, to rise by 5.3% in 2021, for a total of about $15,500 spent on each worker for the year (including contributions from both the employer and employee), according to a survey from the Business Group on Health.

AFTER THE PEARSONS WENT INTO THE INDIVIDUAL MARKET FOR THEIR HEALTH INSURANCE, THEY OPTED FOR A HIGH-DEDUCTIBLE PLAN WITH A HEALTH SAVINGS ACCOUNT.

But because COVID-19 has caused delays in preventive and elective care in 2020, expenses could run higher than expected in 2021 as employees catch up on missed appointments and procedures. In 2020, employers estimate that expenses per employee will total $14,769, with employers contributing $10,202 to employees’ premiums and health accounts (such as a health savings account) and employees contributing $4,567.