Open Enrollment for Health Insurance: What Should You Expect?
Feb 1, 2016
Open enrollment for health insurance is nearing. Are you ready? The health insurance marketplace will allow people to start enrolling in insurance plans for 2016 beginning November 1, 2015. If you do not have health insurance in place for 2016, you'll need to utilize the marketplace as a tool to help you get it. It's also one of the biggest times for students to enroll in health insurance if they are no longer covered under their parents' policies. But don't worry. The process doesn't have to be overwhelming or difficult.
ANALYZE YOUR NEW NEEDSWith fall approaching, itâs time to sit down and think about all of the ways your life has changed, in relation to health insurance needs. In doing so, you'll be able to develop a plan of action for when open enrollment begins.
- Have you had a child this year who is not otherwise covered?
- Are you no longer on your parents' insurance plan?
- Are you no longer receiving insurance through your employer?
- Has your health changed significantly and you need new or different coverage?
- Did you get married or divorced?
- Did your spouse pass away?
- What other changes have occurred that you now need to factor into a new insurance plan?
CONSIDER EXISTING POLICIESNext, take into consideration your current coverage. If you purchased health insurance through the marketplace last year, you don't necessarily need to shop for a new plan (you can continue using an existing plan.) However, if you are unhappy with the current plan, now is the perfect time to look for alternatives. Consider:
- Is your current policy affordable?
- Does it provide a too-high deductible?
- Do you want a plan that offers more coverage options?