Don't Be Among the 30% of Uninformed Americans Wasting Money for This Reason

Every year, you get a chance to save yourself hundreds of dollars per year on your health insurance costs. But you only have a short time to make your move.

The 2021 open enrollment period is drawing to a close for individual health insurance plans and possibly for your employer-sponsored insurance too. If you have no idea what that is, you're not alone. Three in 10 Americans don't know what open enrollment is, according to a MetLife study, so here's a brief overview.

Open enrollment is the annual period when anyone can make changes to their health insurance plan for the coming year. It's Nov. 1 to Dec. 15 for individual health insurance plans offered through Affordable Care Act marketplaces. Employer-sponsored plans have their own open enrollment periods, often in the fall, though they can be at any point during the year.

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Source Fool.com