It’s that time of year again: The six-week period where you’re tasked with choosing health insurance coverage for you and your family.
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Open Enrollment Season Is Here: Here’s A Look At What’s New For 2020
It’s that time of year again: The six-week period where you’re tasked with choosing health insurance coverage for you and your family.A dreaded chore for many Americans who would rather sit in a dentist’s chair or clean the bathroom than sift through the insurance plans their exchange or employer has to offer.
But now is not the time to bury your head in the sand and stick with what you already have, no matter how tempting it may be. Sure, open enrollment comes right as you’re carving pumpkins and planning the Thanksgiving menu, but that’s not an excuse to blow it off. Health insurance is ever-changing, with new plans added and removed on a yearly basis. Deductibles, premiums and out-of-pocket expenses are all moving parts (and they’re generally moving in a way that doesn’t favor your wallet). You don’t want to end up underinsured, or worse, paying for something you don’t need.
But there is good news. There are reasons to be excited about open enrollment this year, including more choices and lower-cost options whether you’re using one of the health exchanges or receive insurance through your employer. Here’s your 411 for 2020.
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Plus:
Finding Life's True Riches, With Rabbi Steve Leder
Tune into any reality show these days, and it probably won't be long before a certain message filters into your consciousness: If you change your outer life, it will change your inner life. But that's a lie. What we have is not who we are, no matter how hard pop culture may drill that message into our heads. That's just a bit of the wonderful insight shared on this week's HerMoney podcast * episode by Rabbi Steve Leder, senior Rabbi of Wilshire Temple in Los Angeles. Leder is the author of several critically acclaimed books, including "More Money Than God: Living A Rich Life Without Losing Your Soul," and "More Beautiful Than Before: How Suffering Transforms Us."
In his most recent book, "More Beautiful Than Before: How Suffering Transforms Us," Leder opens up about his difficult recovery from a car accident and severe back injury that changed his perspective on suffering. "I realized coming out the other end of it, that I knew very little to nothing about real pain, and this book was an apology, and an attempt to set the record straight about pain and what we can learn from it," he says.
Listen in as he shares why he became a Rabbi, and how the synagogue became the place where he could pursue his passion for creative, cultural, intellectual and spiritual matters.
New Research: A 6-Week Emergency Cushion Looks Like Enough
HerMoney’s own Jean Chatzky writes: How big of an emergency cushion is enough? How many months do you need to have — in liquid, easy-to-access cash — in case you lose a job, become ill or injured, or have some other life event that makes it impossible to work in the short-term?
The standard wisdom has long been three to six months’ worth of expenses. My rule has been three for dual income families (figuring one earner will likely stay in the workforce while the other is out) and six for one income families (where there isn’t another earner to take over). But as it turns out, both numbers may be excessive — and there is some new data from the JP Morgan Chase Institute to prove it.
Stella and Dot Calling Your Name? Or Scentsy? Here’s The Real Deal On Profiting (Or Not) From a Multi Level Marketing Company
You can count on the invitations arriving like clockwork. Amanda is hosting a Rodan and Fields party. Jenna is selling for Monat. Or maybe they’re pitching weight loss supplements, colorful leggings or cooking equipment. You’re expected to show up, have a little wine, and, yes, open your wallet to support your pal’s entrepreneurial efforts. (There may not even be wine if they’re selling virtually via Facebook.) And after enough of these, the thought inevitably occurs to you: Maybe I could be making bank myself?
The industry feels you. And it's coming for you.
The pitches can be very compelling. And with thousands of different types of products sold through these companies, there’s ample opportunity to pursue something that actually appeals to you. But can you really make money? |
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*This is a sponsored podcast, and it’s a part of a paid campaign with Fidelity Investments, which means we were compensated for this piece of educational content. Thanks!
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