Why Now’s the Time to Review or Enroll in a Health Insurance Plan
Open Enrollment is here, and it’s your opportunity to either choose a new health insurance plan or make sure your current one still meets your needs. From November 1st to December 15th, you can select a new plan or make adjustments to your current one for coverage starting January 1st. The last day to get coverage for the year is January 15th. Why does this matter? Health and life circumstances can change, and your health insurance should keep up with you. Let’s dive into why enrolling or reviewing your plan during this time is so important.
1. Health Insurance Plans Change Year to Year
Each year, insurance companies adjust their plans to align with healthcare costs, regulations, and new coverage options. This can mean changes to premiums, deductibles, networks, or even the benefits included in a plan. For instance, a plan that covered certain medications or doctors last year might not do so in the new year. By reviewing your options now, you can avoid surprises and ensure you’re still getting the best value and coverage for your needs.
Tip: Even if you’re satisfied with your current plan, take a few minutes to review the details. Changes in your policy could impact your costs and access to care.
2. Life Circumstances and Health Needs Change, Too
Life doesn’t stay the same, and neither do our healthcare needs. Maybe you’ve had a new addition to the family, started taking a new prescription, or discovered that you’ll need a medical procedure in the coming year. Any of these situations might make you reconsider your coverage level or the type of plan you have.
Examples of Life Changes That May Affect Your Insurance Needs:
- Starting a new prescription or requiring a specialized treatment
- Needing surgery or a more complex procedure
- Changing healthcare providers or requiring out-of-network care
- Getting married, divorced, or having a child
If your current plan no longer fits, this is the time to switch to one that does.
3. Gaps in Coverage
Missing the Open Enrollment period means you may have to wait until next year to get covered, unless you qualify for a Special Enrollment Period due to a major life event. Not having health insurance could leave you vulnerable to high medical expenses or costs for prescription drugs, so take advantage of this window to get peace of mind for the year ahead.
4. Financial Help May Be Available
Many people are surprised to find they qualify for financial assistance when they apply or reapply for coverage through the Marketplace. Tax credits and subsidies can make a huge difference in the affordability of your health insurance plan, especially if you’ve experienced changes in income. Make sure to explore all your options to see if you qualify for assistance, which could help reduce your monthly premiums.
5. Tips for Navigating Open Enrollment
To make the most of Open Enrollment, here are some helpful steps:
- Gather Information: Make a list of your current healthcare needs, including prescriptions, doctors, and any planned procedures.
- Compare Plans: Look beyond just the monthly premium—consider deductibles, copayments, and network restrictions.
- Ask for Help: If you’re unsure, our team is here to guide you through your options and help find the plan that’s best for your budget and health needs.
Act Now – Don’t Miss Out!
Open Enrollment only comes around once a year. By taking the time to review or enroll in a health insurance plan now, you’re setting yourself up for a healthy, worry-free year ahead. Our team at Zimmer and Associates is here to answer questions, provide quotes, and help you navigate this process so that you can feel confident in your choice.
If you’re ready to get started, or if you want to learn more about the best plan options, look around our website to read more or reach out to us directly. Let’s make sure you and your loved ones are covered for whatever life brings next year.
