Open Enrollment Mistakes That Could Cost You Money in 2027
Open enrollment can feel like one more thing to check off your to-do list. Look at your options, choose a plan, hit enroll, and move on.
But when it comes to health insurance, rushing through the process can be an expensive mistake. The plan that worked well for you this year may not be the best fit for 2027. Your premium could change. Your doctors could be in a different network. Your prescriptions could be covered differently. Even a change in your income or healthcare needs could affect which plan makes the most sense for you.
And unfortunately, some of the most common open enrollment mistakes happen because people focus on one number or assume their current plan is still the right choice.
Before you automatically renew or choose the plan with the lowest monthly premium, take some time to look at the bigger picture.
Here are some of the most common health insurance mistakes to watch out for during open enrollment—and how avoiding them could help you make a smarter decision for 2027.
Mistake # 1: Automatically Renewing Your Current Plan
One of the easiest things to do during open enrollment is nothing. If your current health insurance plan is still available, it can be tempting to simply renew it and move on. After all, you already know how it works.
But your plan may not be exactly the same next year.
Premiums can change. Deductibles and out-of-pocket costs can change. Provider networks can change. Prescription coverage can change. The plan may even have different benefits or cost-sharing than it did the year before.
That means last year's decision isn't necessarily the right decision for 2027.
Even if you are happy with your current coverage, open enrollment is a good opportunity to review your plan and compare it with your other options.
You don't necessarily need to switch plans. You just want to make sure you're choosing your current plan because it's still the best fit—not because it's the easiest choice.
Mistake # 2: Choosing a Plan Based Only on the Monthly Premium
A low monthly premium can be appealing, especially when you're trying to keep your household budget under control.
But your monthly premium is only one part of what you could spend on healthcare.
A plan with a lower premium may have a higher deductible, higher coinsurance, or higher out-of-pocket costs when you actually use your coverage. Another plan may cost more each month but provide lower costs when you visit the doctor, fill prescriptions, or need medical care.
That's why comparing health insurance plans based solely on the premium can be misleading. Instead, think about the potential total cost of the plan.
Ask yourself:
How much will I pay every month?
What is the deductible?
What are my copays?
What is the coinsurance?
What is the out-of-pocket maximum?
How often do I typically use healthcare?
Do I take regular prescriptions?
Do I expect any major medical expenses in the upcoming year?
The goal isn't necessarily to find the plan with the lowest premium. The goal is to find the plan that makes the most sense for your healthcare needs and budget.
Mistake # 3: Ignoring the Deductible
The deductible is one of the most important numbers to understand when comparing health insurance plans. It represents the amount you may have to pay toward covered healthcare services before your insurance begins paying according to the plan's cost-sharing structure.
A plan with a low monthly premium may come with a significantly higher deductible.
That doesn't automatically make it a bad plan. For someone who rarely uses healthcare, it could potentially be a reasonable option.
But if you expect to use your insurance frequently, a high deductible could have a major impact on what you pay throughout the year.
Don't just ask, "How much is the premium?"
Ask, "What could this plan cost me if I actually need to use my insurance?"
That question can lead to a very different comparison.
Mistake # 4: Forgetting to Check Your Doctors
If you have a doctor you trust, don't assume they will automatically be in-network with every plan you're considering. Provider networks can differ between health insurance plans. Two plans offered by the same insurance company may not necessarily have identical networks.
Before enrolling, check whether your preferred doctors, specialists, hospitals, and other important providers participate in the network for the specific plan you're considering.
This can be especially important if you have an established relationship with a primary care physician or specialist.
Changing insurance plans without checking your provider network first can lead to unexpected costs—or force you to find a new provider.
If keeping your current doctors is important to you, make network verification part of your open enrollment checklist.
Mistake # 5: Not Checking Prescription Coverage
If you take prescription medications regularly, don't overlook the prescription coverage portion of a health insurance plan. A medication you've been taking for years could be treated differently under another plan. Plans can have different formularies, tiers, copays, and other cost-sharing requirements.
Before choosing a plan, review how your regular prescriptions are covered.
You should also pay attention to whether your preferred pharmacy is considered in-network or offers the most favorable pricing under the plan.
A plan that looks attractive based on its premium may become much less attractive if your regular medications cost significantly more. Your prescriptions are part of your healthcare needs, so they should be part of your health insurance comparison.
Mistake # 6: Looking at the Deductible Without Looking at the Out-of-Pocket Maximum
It's easy to focus on the deductible because it's such a prominent number when comparing plans. But don't stop there.
The out-of-pocket maximum is another important number because it represents the most you would generally pay during a plan year for covered, in-network services subject to the plan's out-of-pocket limit.
Think of the deductible as one milestone—not the entire journey. You could meet your deductible and still have additional cost-sharing responsibilities through copayments or coinsurance.
Looking at the out-of-pocket maximum gives you another way to evaluate the potential financial exposure of a plan if you have a year with significant healthcare needs.
When comparing plans, look at the premium, deductible, and out-of-pocket maximum together rather than evaluating any one number by itself.
Mistake # 7: Assuming "In-Network" Means Everything Will Be Covered
Seeing that a doctor or facility is in-network is important, but it doesn't mean every service you receive will automatically be free or fully covered. Your plan still has specific rules regarding deductibles, copayments, coinsurance, covered services, referrals, prior authorization, and other requirements.
That's why it's important to understand your plan beyond simply asking whether your doctor accepts it. If you're expecting a particular treatment, procedure, test, or other type of care in 2027, take the time to understand how that care would be handled under the plan you're considering.
Knowing how your coverage works before you need it is much easier than trying to figure it out after receiving a medical bill.
Mistake # 8: Waiting Until the Last Minute
Open enrollment deadlines exist for a reason, and waiting until the final days can create unnecessary stress. When you're rushing, you're more likely to skim over important details, overlook differences between plans, or simply choose whatever seems easiest.
Give yourself enough time to compare your options carefully.
Start by gathering the information you'll need:
Your current plan information
Your preferred doctors and specialists
Your regular prescriptions
Your expected healthcare needs
Your household budget
Any changes in your family or employment situation
Your expected income, when applicable
Having this information ready can make comparing your options much easier. The goal is to make an informed decision—not a rushed one.
Mistake # 9: Choosing a Plan Without Considering Your Expected Healthcare Needs
You don't need to predict everything that will happen in 2027. But you should consider what you already know.
Do you have a surgery scheduled? Are you expecting a baby? Do you have regular specialist appointments? Are you managing an ongoing medical need? Are you planning to get certain treatments or procedures?
These circumstances can change how you evaluate different health insurance plans.
Someone who rarely visits the doctor may prioritize different plan features than someone who expects frequent appointments or significant medical care.
Your health insurance should fit your life—not the other way around. Think about how you've actually used healthcare in the past year and whether you expect anything to change in the coming year.
Mistake # 10: Assuming the "Best" Plan Is the Same for Everyone
There isn't one health insurance plan that is automatically the best choice for everyone.
Your neighbor's favorite plan may not be the right fit for you. Your coworker's plan may have a completely different cost structure than what makes sense for your family.
Even two people with similar incomes may have very different healthcare needs, doctors, prescriptions, and financial priorities.
That's why comparing plans requires more than asking, "Which one is cheapest?"
The better question is: "Which plan makes the most sense for my specific situation?"
That answer depends on what you need from your health insurance and how much financial risk you're comfortable taking on.
A Better Way to Approach Open Enrollment
Open enrollment doesn't have to be overwhelming. Instead of looking at dozens of numbers at once, start with the things that matter most to you.
Think about your healthcare usage. Review your doctors. Check your prescriptions. Look at the premium, deductible, copays, coinsurance, and out-of-pocket maximum. Then compare how those pieces work together. Most importantly, don't assume that staying with your current plan is automatically the easiest—or cheapest—option.
Taking a little extra time now could help you avoid paying for coverage that doesn't fit your needs or discovering an important coverage difference when you actually need your insurance.
Don't Let Open Enrollment Become a "Set It and Forget It" Decision
Choosing health insurance is a financial decision as much as it is a healthcare decision.
The plan you choose affects what you pay every month, what you may pay when you receive care, which doctors you can see, how your prescriptions are covered, and how much financial protection you have if you experience a major medical event.
That's a lot to consider.
And you don't have to figure it all out by simply staring at a list of plan options and trying to determine which numbers look best. If you're unsure how to compare your options for 2027, getting guidance can help you understand the differences between plans and determine which options may fit your needs and budget.
At The Vasquez Agency, we help individuals and families navigate their health insurance options so they can make an informed decision during open enrollment.
Before you automatically renew, choose the lowest premium, or click "enroll," take another look at your options. Click below to get started!
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