Now is the time!

Have you been waiting for the time to be able to make changes to your current health plan? Open enrollment is here! This is the time to make necessary changes to your health plan, so you have coverage that is specific to your current health care needs. Always talk anticipated plan changes over with your family, healthcare providers and a trusted benefits advisor. You should give yourself time to make smart changes. Things to consider are changes in health, affordability, and network providers.

If you or a member of your family have had significant changes in health over the past year, you may want to seek out a plan that has richer benefits. A plan with such coverage, will likely have a higher premium. However, you will have less out of pocket costs when you go to use your plan. Examples of this are no deductible or very low deductible plans, lower co-pays. These types of plans are more attractive to someone who anticipates having to see their primary care provider and/or specialists quite often throughout the year.

You should consider what is most important to you in a plan. Do you prefer a plan with no deductible and low copays? Do you have a health savings account (HSA)? Are you generally healthy and only go to the doctor for your annual check up? Generally, a plan with a high deductible will have a lower monthly premium but you will pay more out of pocket, at the time you use the plan. Going for the lowest premium is not always a good decision. So weigh the options carefully. You will not be able to change your plan until the next enrollment period, unless you have a qualified life event (QLE). When it comes to Medicare beneficiaries, you wouldn't be able to change your plan unless you qualified for a special enrollment period (SEP). You you want to make an educated decision.

If you are thinking of changing plans another area to consider is physician network. Most plans have a network of providers and you want to be sure your provider is in network. Even with plans that have in and out of network benefits, you will have a higher cost share when using an out of network provider. If your provider is not in network, are you willing to change providers for a more suitable plan?

These are just a few things to consider during the enrollment period. Give yourself time to make a well-informed decision about you and your families healthcare needs. While, you should not make a rush decision, please be aware of the enrollment timeline. We are currently in AEP and OEP. Here are important dates to remember. Medicare Annual Enrollment Period (AEP) is from Oct. 15th - Dec. 7th. and Individual & Family Open Enrollment (OEP) is from Nov. 1st - Jan. 15th. However, you want to enroll and pay your premium by Dec. 15th to have your plan go into effect on Jan. 1st. otherwise your new plan will not start until Feb. 1st.

There are a lot of things to consider. Maybe your family has a mix of members on Individual and Family coverage and a Medicare beneficiary or you just find all of this confusing and need assistance. Please, feel free to reach out. I am always happy to help!