Open enrollment for 2020 begins on November 1st and runs through December 15th. All applications submitted by December 15th will have an effective date of January 1, 2021.
Plans and prices on the Federal Exchange will be available for review the third week of October.
You can purchase health insurance outside of Open Enrollment if you’re experiencing a Qualifying Life Event, However. For all others, short term health insurance plans are a good alternative to bridge any gaps. If you’re not sure of your best options, contact us to discuss your best path forward.
If you are outside of open enrollment, proof of a a qualifying life event is necessary to buy insurance on the Marketplace. There is a long list of qualifying life events that qualify – view the list here. If you are involuntarily losing creditable health coverage, you can buy insurance on or off the Federal Exchange.
The Exchange/Marketplace is the best place to go if you qualify for a tax credit based on your income – or you have preexisting conditions. There is no medical underwriting and your premiums will be much less if your below certain income thresholds.
On the exchange, we work with several insurance companies, including: Ambetter, Anthem BCBS, CareSource, Cigna, Bright Health, Health Net, Humana, Medical Mutual of Ohio, Molina, Oscar, and a few others.
If you are not experiencing a Qualifying Life Event, then purchasing a short term health plan may be your only option. We work with several insurance companies that offer short term policies, including: Anthem Blue Cross and Blue Shield, Aetna, Medical Mutual, United Healthcare and a few others.
The Affordable Care Act has changed the way we buy insurance. In some areas there are fewer options with smaller networks. If you’re losing group insurance, then you may be finding this out for the first time.
Most plans sold on the Exchange are HMOs. This means you must stay in their network to receive care. If you are outside of the network for anything other than an emergency, you might be responsible for the entire amount.
PPOs are still available from many short term providers. In fact, some of our clients are buying short term plans that last for two to three years.
There is not a right or a wrong way to buy health insurance for yourself or your family, but you may want our guidance. Navigating the Exchange on your own can be difficult. We can help you see if your doctors are in network with the plans in your area. We can also assist with pricing any prescriptions you’re concerned about.