Open enrollment season has begun, so those that don’t have insurance will be rushing to the exchange and checking with the local insurance agencies to try to get the best deal while they still can. If you have health insurance already, your plan may simply carry over, so you may not be thinking much about open enrollment. Ignoring the opportunity to change your plan could be a mistake, however.
Did You Actually Use Your Insurance Last Year?
If you used your current health insurance plan regularly to attend preventative visits and cover other healthcare costs, your insurance plan probably fit your needs well. If you didn’t use it, ask yourself why. Was the copay or deductible too high? Was the premium too high to allow you cover out of pocket cots? If you answered yes to these questions, it may be time to rethink your plan.
Have Your Needs Changed?
If you have been diagnosed with a chronic condition, have moved to a new area that is inconvenient to the doctors covered under your plan, or have started a different job, your plan may not fit your needs anymore. Even if you don’t think you will change your plan, it is a good idea to see what’s out there. You may be pleasantly surprised with a lower cost plan that better suits you and your family.
Has Your Income Changed?
A change in income may affect your health insurance in different ways. If your health insurance was purchased through the exchange and you received tax credits to help pay for premiums, the amount of credit that you are eligible to receive may change.
If your health insurance was purchased through an independent insurance agency or through your job, you may wish to change plans to save money or improve the quality of the insurance plan. Going with a plan with a slightly higher premium may afford a little more comfort when it comes to out of pocket costs, which may be reasonable if income has risen.
Will Your Premiums Increase This Year?
Many insurance plan premiums are increasing for 2017. If your premium will be increasing, it may be a good idea to reconsider your health insurance options. There may be a plan of comparable cost that better fits your needs, or there may be a less expensive plan that includes most of the benefits of your current plan.
If you are considering changing your health insurance plan during this open enrollment season, but aren’t sure about your options, call 704-527-4220 and speak to one of our health insurance experts today.