Alone, naked, bewildered. Is that you?

If you smoke you probably know that you should quit.

If the bathroom scale groans when you get on it, whose fault is that?

You know you should get more exercise but … well, you know where this is going.

And if you are federal worker or retiree there is one more thing you probably know you should do, but you don’t. That would be at least going through the motions of shopping during the health insurance open season that closes Dec. 12, which is just around the corner.

And if you are a federal worker or retiree odds are you’ve been in the same health plan 5 or 10 years. Maybe for your entire career. It was great when you got in it — back in the day — but now its premiums are too much for what you get in return.

Walton Francis, editor of Checkbook Guide to Health Plans for Federal Employees and Annuitants, estimates that anywhere from 30 percent to 40 percent of all feds and retirees, are enrolled in the half a dozen plans with the highest premiums. They are paying premiums that are two, three and even four times higher than those charged by most HMOs and a dozen fee-for-service plans. For instance, the premium for Kaiser standard (an HMO) is $1,450 for 2017 for a single worker or retiree compared to the $6430 premium for Aetna’s Open Access high option HMO.

Among fee-for-service plans half a dozen (APWWU CDHP, NALC CDHP, GEHA HDHP and Aetna, the Foreign Service plan, GEHA standard and Blue Cross basic’s self-only premiums are between $1,390 and $1,850. According to Francis, the much less expensive Blue Cross basic option ($1850) is, in most instances, just as good as the Blue Cross-Blue Shield standard option ($2,760), which is a favorite of retirees. Yet people refuse to shop, much less change plans. Why?

Each open season only about 6 percent of the feds and retirees in one of the health plans changes. When at least 30 percent to 40 percent should change. Again why?

Sticking with a brand-name health plan may be comfortable. But can also be costly. What are the five reasons people have health insurance? 

Today at 10 a.m. EST on our Your Turn radio show Walt Francis will again be our guest. You can call in during the show with questions at 202-465-3080 or email them to me before showtime: mcausey@federalnewsradio.com This show, like all other Your Turns, will be archived on our website so you can listen anytime. And tell a friend.

Shopping for health insurance isn’t fun, unless you have a very different definition of what fun is. But it can sure save you a lot of money which next year, with a tiny pay raise and a microscopic retiree COLA, could be a very good thing.

Don’t miss an episode of Your Turn with Mike Causey. Subscribe on iTunes and have the episode downloaded automatically to your phone or desktop. You can also download past episodes.

Nearly Useless Factoid

By Michael O’Connell

The first recorded use of the term “Black Friday” was in connection with the Sept. 24, 1869, crash of the U.S. gold market.

Source: History.com

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