Page 19 - Kiplinger's Personal Finance - November 2018

MONEY

SPECIAL REPORT

PICK A BETTER

HEALTH

INSURANCE

POLICYLICY
PO

Use our strategies during open enrollment to get the best
coverage at the best price. BY KIMBERLY LANKFORD
PHOTOGRAPH BY JAMEY GUY

For years, health care costs have been marching steadily upward, and
insurers have been raising premiums to keep pace. You can expect more
of the same in 2019. The average cost of employer-provided medical and
drug benefits is expected to rise 5% next year, according to the National
Business Group on Health’s survey of large employers—the sixth consecu-
tive year of 5% increases. But your choices during open enrollment may
look a little less bleak because many employers are offering more cover-
age choices, larger contributions to health savings accounts and new tools
to help you reduce your costs. // If you buy coverage on your own, you may
have been pummeled by massive rate hikes for several years. But premi-
ums are finally stabilizing and even dropping in some states. In several
states, you may have more insurers to choose from as new companies
enter—or return to—the health care exchanges. If you earn too much to
qualify for a subsidy, you have several new plan options that carry lower
premiums—but also extra risks. // Whether you get your health insurance
from your employer or on your own, the following strategies can help you
get the best coverage at the best price.

26 KIPLINGER’S PERSONAL FINANCE 11/2018

K11M-HEALTH INSURANCE.indd 26 9/20/18 12:02 PM