HMO, PPO or High-Deductible Plan? Navigate Open Enrollment as Health Care Costs Rise

Learn how to compare health insurance plans, HSAs and FSAs before open enrollment deadlines arrive. How do you pick the right health plan when costs keep climbing? Hosts Sean Pyles, CFP®, and Elizabeth Ayoola kick off a two-part open enrollment series with NerdWallet lead writer Kate Ashford, starting with the key enrollment dates for marketplace, Medicare, federal and employer-sponsored coverage. They discuss why employer health benefit costs are expected to jump next year, how premiums and deductibles work like a seesaw, the tradeoffs between HMOs, PPOs and high-deductible health plans, and why being a middle-of-the-road health care user could make the choice especially tricky. You’ll also hear how to weigh your out-of-pocket maximum, whether you have enough cash on hand to cover a high deductible, and how last year’s medical bills could help you estimate next year’s. How can you get the most out of a health savings account or flexible spending account? Sean, Elizabeth and Kate explain the triple tax advantage of HSAs and why some planners treat them like another retirement account, how use-it-or-lose-it rules and rollover limits work for FSAs, and what a dependent care FSA could cover. They also dig into what’s changing for Affordable Care Act plans in 2027, including higher proposed premiums, insurers entering and leaving markets, new subsidy eligibility rules for some immigrants and state-level changes, plus why it could be worth trying to negotiate a medical bill. Compare plans, premiums and out-of-pocket costs with NerdWallet’s guide: How to Choose Health Insurance: Your Step-by-Step Guide: https://www.nerdwallet.com/insurance/health/learn/choose-health-insurance Want us to review your budget? Fill out this form — completely anonymously if you want — and we might feature your budget in a future segment! https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend. The show notes were created with the assistance of AI. They have been reviewed by our editorial team for accuracy and quality. Learn more about your ad choices. Visit megaphone.fm/adchoices