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Home » Other / Miscellanious » Tips for Planning and Preparing for Open Enrollment – A Guide
Every year thousands of people either need to get new health insurance or switch their health insurance.
And the last thing you want is to be stuck in a health insurance plan for a year that does not work for you.
On the other hand, if you are a health insurance agent, you need to know what each of your clients is looking for and when they plan to enroll.
So, in this article, we are going to discuss everything about open enrollment. Whether you are an individual looking to get insured or an agent selling health insurance, this will benefit you.
The Affordable Care Act (ACA), also called Obamacare, provides an annual open enrollment period where individuals can enroll in health insurance without being denied coverage based on health status or preexisting conditions.
The open enrollment period comes around once a year, and individuals can either select a new health insurance plan or choose to switch plans. This is also the time to disenroll if you decide to do so.
Open enrollment periods will vary depending on the healthcare plan you choose.
There are times when individuals can enroll in a health care plan outside of open enrollment. There have to be extenuating circumstances known as qualifying events that give individuals this opportunity.
If you experience a qualifying event, you will be eligible for a special enrollment period, allowing you to enroll in a health insurance plan outside of open enrollment.
A qualifying life event includes:
Whenever you have a qualifying event and are applying for new coverage, you will need to provide proof of your qualifying event.
Whether it is a marriage license or a letter from your previous health insurance stating that you lost coverage, make sure you have proof of your qualifying event.
It is important to remember that you will not be eligible for a special enrollment period if you voluntarily lose your previous health coverage by not paying your monthly premiums or canceling your previous plan.
If you are looking to take advantage of the upcoming open enrollment period, you need to know how to choose the best health coverage for you and your family.
Firstly, it’s essential to understand that there will be various tiers of coverage available to you. And narrowing your focus on just one aspect of a tier can do more harm than good.
Let me explain.
When choosing a health insurance plan, you may have a choice between 3, 4, or even 5 tiers. And each tier will have a different deductible, premium and cover a different percentage of doctor’s appointments, medication, and procedures.
If you only look at the premium and decide to go with the plan that has a lower monthly premium, you could get stuck with a high deductible. Having a higher deductible can cause you to pay more out-of-pocket for your medical costs.
So, when enrolling in health insurance, consider the following:
Having a chronic condition or health concerns should also affect which health insurance plan you enroll in.
Also, think through what the next year will look like for you. Will you get married or have a child? What are your financial responsibilities? Will you be moving or switching jobs?
Asking yourself these questions will help you get the most bang for your buck when choosing health insurance.
When you have your health care plan options narrowed down, it’s time to make sure you have all of your information handy.
To make the process go smoothly, make sure you have the following information accessible:
When it comes to choosing the best health care coverage, here are the best questions to ask yourself.
If you are a health insurance agent, then you may be looking to take advantage of the open enrollment Period. In order to do so, here are some tips to help you prepare.
The single greatest thing you can do as a health insurance agent is to become trusted. When prospects trust you, they will be more likely to buy from you.
One of the best ways you can get prospects to trust you is by being genuine and showing them that you actually care for their needs. You do this by providing them with resources beyond just health insurance.
The reality is that many health insurance plans either do not cover enough or the monthly premiums are beyond what many can afford. This is where Prescription Hope can help both parties out.
You, the health insurance agent, can offer Prescription Hope as a resource to your prospects and clients when health insurance plans aren’t the best option for them.
Prescription Hope is a serviced-based company that streamlines patient assistance programs for patients who qualify. Outreach kits are available so that you can easily provide your prospects and clients with more information.
Here’s where you can find Prescription Hope’s outreach kit, providing you and your clients with more information.
We hope that this article has helped you understand how you can better prepare for open enrollment.
Whether you have insurance or not, it can still be difficult to afford your much-needed medication. Prescription Hope is here to help you save on brand-name medication.
By working directly with pharmaceutical manufacturers, we can help patients who qualify access patient assistance programs. Fill out our online enrollment form to determine if you qualify and start receiving each of your medications for $50 a month.
Open enrollment is an annual period, normally from November 1st to December 15th, where individuals can enroll in a health insurance plan without being denied coverage based on health status.
If you miss the open enrollment period and were not previously enrolled in an insurance plan that automatically renews, you could be without health insurance. However, there are options for you.
In most cases, you will need to wait until the open enrollment period to get new health insurance or switch plans. Keep in mind that the open enrollment period for your workplace may differ from the federal open enrollment, which is from November 1st to December 15th.
In other cases, you can get new health insurance or switch plans if you have a qualifying event.
See If You Qualify