Health Insurance Open Enrollment Guide for 2026

HMO vs. PPO vs. HDHP

HMO (Health Maintenance Organization): Lower premiums, requires a primary care physician and referrals. Best if you prefer lower monthly costs and have a trusted doctor in-network. PPO (Preferred Provider Organization): Higher premiums, see any doctor without referrals. Best for people with ongoing specialist care. HDHP (High-Deductible Health Plan): Lowest premiums, highest deductible ($1,600+ individual in 2026). Qualifies you for a Health Savings Account (HSA).

The HSA Advantage

If you're generally healthy and can afford the higher deductible, an HDHP + HSA combination is often the most powerful health coverage strategy. HSA contributions are triple tax-advantaged: tax-deductible going in, tax-free growth, and tax-free withdrawals for qualified medical expenses.

How to Compare Plans

Don't compare just premiums. Calculate your total annual cost: (monthly premium × 12) + expected out-of-pocket costs. For healthy people, the lowest-premium plan often wins. For people with ongoing medical needs, a plan with lower copays and deductibles may be cheaper overall.