INDIANAPOLIS (WISH) — As open enrollment for health insurance quickly approaches, a local health services expert offered guidance to help people make informed decisions regarding their health care coverage.

The open enrollment period is set to run from Nov 1. to Jan. 24, 2024. Despite a limited window for people to evaluate and select the best healthcare plan for their needs, Kevin O’Toole, chief executive officer of Managed Health Services Indiana, says the importance of choosing the right healthcare plan during this crucial period.

Each year, millions of Americans face challenges when selecting the most suitable Medicare plan, making expert advice the way to go. O’Toole compares choosing the right health care plan to making an important decision in our daily lives.

O’Toole said, “When you pick a plan, it’s important to understand that the premium, which is the amount you pay monthly for your insurance, can influence the cost of the services you receive. If you opt for a plan with a higher premium, you pay more each month but less when you need to see a doctor.”

Medicare-eligible people have only a short time during open enrollment to make significant changes to their health care plan for 2024. O’Toole recommends assessing your financial situation and determining how much you can comfortably pay each month and what you might need to cover from your pocket.

Overall, the monthly premium cost directly affects out-of-pocket expenses for health care services. Therefore, careful consideration of your financial circumstances and preferences is crucial when making your choice.

O’Toole also recommends using resources like healthcare.gov, a website that provides valuable assistance in selecting the most suitable healthcare plan. Managed Health Services Indiana also has a wealth of information and tools on its website.