The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: dodojojo on December 13, 2015, 09:01:30 PM
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In 2015, I have a high deductible HSA health care plan. And it's worked out, no medical issues for the year. Last week though I had a physical and I've been referred for a radiology visit and another visit with a specialist. These issues may result in lots of medical visits in 2016 and I now wonder if there's any way I can reverse my decision and go with a more expensive but much lower deductible plan. My expense for the HSA is $0 while the most comprehensive health care plan runs about $140 monthly.
My company's last day to change medical plans has passed. I'm pretty sure my situation isn't unique. Anyone experienced this and have advice to share?
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Generally speaking, outside of your employer's open enrollment period, you can only change your benefits if you experience a qualifying life event, such as a birth, marriage, divorce, or loss of benefit coverage under a spouse's/domestic partner's plan. Even then, you need to make the change within a set period, usually one month. Check with your HR to find out under what circumstances your provider allows you to make a change.
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Actually, it just so happens that I went to the doctor today, found out something pretty concerning, and went back to work thinking, "OMG, why on earth did I change from the PPO to the HDHP for 2016???" So I went to my HR/benefits people right away and asked if there was any way that I could change my 2016 election back to the PPO. Sure enough, they said it was not too late because the coverage period had not started yet. They just needed to have me re-complete the form with my changes. Yay, all set! So, I'd say that for you, it's also worth a try!