6 health insurance terms you need to know as open enrollment begins
Halfpoint Images | Moment | Getty Images It's open enrollment season, the time each year when millions of American workers and retirees must choose a health plan, whether new or existing. But picking health insurance can be a dizzying venture. Health plans have many moving parts — which may not come into focus at first glance. And each has financial implications for buyers. "It is confusing, and people have no idea how much they could potentially have to pay," said Carolyn McClanahan, a certified financial planner and founder of Life Planning Partners, based in Jacksonville, Florida. She is also a medical doctor. More from Personal Finance: Before dropping a Medicare Advantage plan, compare key costs Democrats warn Social Security, Medicare at stake at ballot box Here's what you need to know about 2023 marketplace coverage Making a mistake can be costly; consumers are generally locked into their health insurance for a year, with limited exception. Here's a guide...