Open enrollment

 

2019 Open Enrollment is A Go

From November 1 to December 15 is the open enrollment period for the Affordable Care Act.  If you miss that period, you risk not being able to get coverage for the next year.  Even if you’ve already got coverage, though, now is probably a good time to check on your benefits.

 

Prices May Be Dropping

The prices available for any ACA coverage plan are subject to change.  For the first time in years, we’re starting to see some significant drops in coverage costs in many states.  Some have dropped by as much as $200 per month.  While drops in rates are not universal, it’s a good idea to check each enrollment period to find out what’s going on.  If the prices are changing on you, it might be time to re-evaluate your plan. Changing your coverage plans can potentially save up to $125 a month if you find the right plan for your needs.

 

Circumstances Change Annually

The plan you have now might have been good in the past, but circumstances can change very suddenly.  Perhaps your kids have moved out.  Maybe you’ve moved into a different home.  It’s possibly you’ve changed a job.  All of these changes could bring chances to improve your health coverage.

Different employers offer different levels of coverage on their company health insurance plans.  Many employers are shifting the responsibility of health care onto their employees.  Over the past 10 years, employees have been made responsible for as much as 75% more of their health coverage costs.  Given that, your job’s health insurance may not be enough to cover your needs.

Even if you do have coverage, many people have suboptimal coverage that can lead to costly medical expenses they could have had covered. While you still have time, check your policies to make sure you’re getting the best you can.

 

Time is Short

The open enrollment period is a shockingly brief window. You’ve got a month and a half to take care of it.  This also means that insurance brokers will have shorter windows for their appointments. You can’t afford to delay if you want to check on your health benefits.  If you don’t sign up during this time, certain life events – such as having a baby, losing coverage, or moving – may qualify you for a special enrollment period.  However, if you don’t meet these conditions, you risk having to wait for the next year. You may sign up for Medicaid at any time, but only if you qualify for it.

The penalty for not having health coverage was removed in 2017 for many states, but the small savings you might have from opting out of coverage are weighed against the risk of having to cover all of your medical expenses if there should be an emergency.  You don’t want to be left hanging if something unexpected should come up.

 

Give Us A Call

If you’d like to see how we can save you money on this year’s insurance premiums, give us a call at (435) 752-0101.  We are open Monday through Friday from 8:30 AM to 4:30 PM. Get in touch and see how we can help you get the best coverage possible, just like we have for many other customers.