Open Enrollment for 2020 health insurance plans begins on November 1, 2019 and will run through December 15, 2019. Coverage can begin on January 1, 2020. The 2019 plans and benefit information will be released on October 26, 2019.
Now that you are aware of the deadlines, let’s look at some tips for getting the best plans for you during this year’s Open Enrollment season! Here are some factors to consider and questions to ask during the Open Enrollment process:
What are your needs?
Are you and your family relatively healthy? Or is there a chronic health condition to consider? Where will you go for emergency care? Choosing the best plan for you (one that covers your known and unexpected needs) requires careful consideration of costs and benefits.
What changes are coming your way?
Is there a new job on the horizon? Is a new baby arriving soon, or do you have a child moving out to begin college? Big changes can influence which type of coverage is best for your situation.
What services do you need?
What services are important to you and your family? Are there any procedures planned for the coming year? We can help you review the services available in each plan to help you determine which covers all of your family’s needs at the best price.
Who is in your Provider Network?
If you like a particular doctor or hospital (or have an established, working relationship with them), we want to ensure that they are included in your network.
What can you afford?
In addition to monthly premiums and an annual deductible, be sure to factor in potential out-of-pocket expenses (e.g., co-pays, medication). It can be beneficial to determine how much you spent last year, in order to decide which plan is best for your situation moving forward.
Do you have a Health Savings Account (HSA)?
HSAs allow you to lower your taxable income by saving money for health care expenses before it is taxed. If you have not previously contributed to an HSA, consider starting with a conservative monthly allocation. If you have, did your monthly savings meet your needs? Or do you need to adjust it? Did you spend all of the money you set aside, or are there funds left over?
What are your other insurance needs?
In addition to health care coverage, is your family in need of dental, vision, or other coverage?
What’s NEW this Open Enrollment season?
Consider newly introduced, less expensive options! New regulations allow for less expensive choices with which you can pay for only the coverage you need. Also, there are new insurance companies now in the game. We can review their rates and benefits to see if they are a fit for you.
Take Advantage of Open Enrollment
Even if you are happy with your current coverage, Open Enrollment season is a great time to review changes to health plans and to your needs. Some companies will roll your current plan over into the next year, but others may not (which could leave you scrambling to find alternate coverage).
At USA Health, our goal is to find the right coverage for you and your unique circumstances. We take the hassle of researching and understanding insurance lingo off your plate. Schedule an appointment during this Open Enrollment season, and we will help you determine which affordable plan best suits your needs. Additionally, if you are a business owner, we have tons of plans to provide your employees with ample coverage!