How to Lower Your Health Insurance Costs During Open Enrollment

Open enrollment season is your once-a-year chance to change health plans, whether through your employer or the ACA marketplace. Spending an hour comparing options can save a lot.

Look at total cost, not just premiums

A plan’s true cost includes:

• Premiums: What you pay every month.
• Deductible: What you pay before the plan starts sharing costs.
• Copays and coinsurance: Your share of each visit or service.
• Out-of-pocket maximum: The most you’d pay in a year for covered in-network care.

Estimate your likely medical use for next year, then add premiums plus expected costs for each plan.

Check the network

Make sure your doctors, hospitals and pharmacies are in-network. Out-of-network care can cost much more or not be covered at all.

Review your prescriptions

Check each plan’s drug list (formulary) and what tier your medications fall into.

Consider an HSA-eligible plan

High-deductible plans have lower premiums and let you contribute to a health savings account, which offers triple tax benefits. They tend to work best for people who are generally healthy or who can cover the deductible from savings.

Use your FSA wisely

A health flexible spending account lets you set aside up to $3,400 in 2026 pre-tax for medical costs. Many plans are “use it or lose it,” so estimate carefully. The dependent care FSA limit rose to $7,500 in 2026.

Buying your own coverage?

ACA marketplace open enrollment for 2027 coverage begins Nov. 1, 2026, in most states. Enhanced premium subsidies expired at the end of 2025, and many insurers are raising rates or leaving the marketplace, so comparing plans is especially important this year. Read our 2027 open enrollment update.

Free preventive care

Most plans cover recommended preventive services, like annual checkups, screenings and vaccines, at no cost when you use in-network providers. Use them.