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One of the most effective ways to maintain optimal health is to undergo a health examination at least one time a year. Look at an annual health examination as a status report that lets you know where you stand health-wise. You probably take your car in for a routine inspection around once every six months. This allows you to discover whether you have to address any maintenance issues to prevent any unexpected appearances of Murphy’s Law. You should pay the same amount of attention to your health insurance plan as you pay to maintain your health and automobile.

At least once a year, you should sit down and review your health insurance policy to determine whether you need to make one or more changes.

If you signed up for a plan via the national Marketplace as established by the Affordable Care Act (ACA), you get the chance at the end of each year to modify your health insurance policy or even buy a new policy. However, many Americans let the annual period for making health insurance changes pass without considering making any necessary changes. If you have health insurance coverage through an employer or on your own, you do not receive an annual reminder to consider the status of your current policy.

Nonetheless, everyone should regularly evaluate their health insurance plan for several reasons.

Healthcare Changes

Twelve months is a long time, which means your healthcare needs might change over the course of a year. When you signed up for a health insurance policy, you chose a plan that matched your healthcare needs at the time. The passage of 12 months can change your healthcare needs for three reasons.


Marriage represents one of life’s most important events. With the sacred covenant of matrimony comes several responsibilities, including deciding which health insurance plan works for you and your spouse. You should consider a health insurance plan that provides sufficient coverage for you and your spouse, without causing you to bust the monthly budget. An employer-sponsored plan can help you get the coverage you need.

Learn more about marriage and health insurance.

Welcome a New Member to the Family

Bringing a newborn home generates a considerable number of new responsibilities, such as scheduling feeding times and waking up in the middle of the night to change diapers. It also adds the responsibility of taking care of the newborn’s health, which you do by changing the terms of your health insurance policy for your new baby.

Instead of waiting until your health plan expires, ensure the required changes go into effect before the birth of your new family member.

Planning for the Golden Years

Our healthcare needs change as we age. We depend more on preventive healthcare services such as undergoing annual mammograms or colonoscopies. As you approach the day of your retirement, you should conduct a thorough review of your current health insurance plan to determine whether you need to make changes to match your stage in life. For example, you might want to lower your annual deductible since as we grow older, we tend to use more healthcare services.

Learn more about retirement and health insurance or pre-medicare.

Financial Changes

The compensation that we earn fluctuates throughout our careers. From receiving a lucrative raise to falling victim to the downsizing strategy of your company, you should consider changes to your health insurance plan to match your ability to pay for coverage. If you received a raise over the past year, any discount benefits you enjoyed by opting into a Marketplace health insurance plan might disappear. On the other hand, a pay cut might qualify you to receive discounts with a plan that falls under the management of the Marketplace health insurance program.

Household events, such as caring for an elderly family member, also should motivate you to evaluate your current health insurance policy.

Insurance Plan Changes

Changes in available health insurance plans might be the impetus to get you to change policies. This is especially true for plans managed under the Marketplace program. Health insurance plans offered under the ACA frequently change every year to match changing economic conditions, as well as any new healthcare resources. Maybe your current plan is no longer cost-efficient or one or more plans have improved the level of coverage. Federal guideline changes also represent a reason to evaluate your current plan at least once a year.

The Bottom Line: It Pays to Evaluate Your Health Insurance Plan

Evaluating your current health insurance plan might lead to a significant change that saves you money and/or improves the healthcare services that you receive each year.

If you need assistance reviewing your policy, we can help! Insurance Broker Hub has helped over 10,000 consumers find the coverage they need at a price they can afford.

Our free service gives you access to an independent network of national brokers who have the experience and expertise to design a plan around your needs and budget. Ready to get started? Simply request a no obligation health insurance quote here.