4. Reassess Employer Options

Nearly 60% of employers offer at least two plan options, according to benefits consultant Hewitt Associates. Even though one plan may have covered your health-care needs for years, it's important to reassess your needs each year. (A good time to do so would be during open enrollment season in the fall.) A decision to start a family or get some major dental work may make another plan a much more financially attractive option in the upcoming year. Here are two factors to consider while weighing your options.

Network providers: Health care is increasingly moving toward managed networks of physicians and facilities, says Knowlton. Check that you aren't unnecessarily paying a higher premium because your plan allows you a choice of physician. "If your doctor is already in network and your lab is already in network, do you really care about having more choice?" he asks.

Benefit range: The more benefits available to you, the more you'll pay. "Your premiums reflect as if you're using that benefit every single month," says Jeanne Brutman, a New York-based financial planner. If you're reasonably sure you won't need coverage for immunizations, maternity expenses or orthodontics in the coming year, switching to a plan that requires you to pay more out of pocket for such services (or doesn't cover them at all) could work in your favor.