“Open Enrollment” is by now almost a household word, but there is still lots of confusion. Here’s a recap of why the next two and half months are critical for which healthcare you’ll be enrolling in until 2020.
Open Enrollment takes place November 1 through December 15; during this period, you can enroll or make a plan change. You will not be able to upgrade or switch plans, no matter how much you’re willing to pay out of pocket, unless you have a qualifying event.
The only way one can switch plans in 2020, after Open Enrollment, is if you qualify for the following:
– Gaining/becoming dependent
– Gaining access to a new plan due to permanent move
– Move to U.S from a foreign country
– Loss of coverage
– Loss or denial of Medicaid
– Victims of domestic abuse or spousal abandonment and their children
Health Insurance Plan
When deciding between plans, make sure that you understand what each plan means for you. The current array of plans can be confusing, with various “tiers” and different in-network and out-of-network coverage. Look carefully into the provider network of each plan being offered. Are your doctors and preferred medical facilities in network? Are your medical needs including procedures, medication etc. covered in this plan?
Whatever plan you end up choosing, the earlier you begin the process, the better. You will have more time to understand your options and make a wise decision. When you enroll earlier, you will have your ID cards in time and greater peace of mind in every aspect of your coverage.
The Bottom Line
In any case, don’t just sit back and swallow a premium increase. There may be better plans for you out there today, with benefits that better suit your needs, a better provider network and/or more competitive premium.
When working with Cosmo there is an array of good individual health care options available for you from various reputable carriers. We at Cosmo know these options inside and out, and will guide you towards the best one for you.
A little time and effort now can make a great difference throughout the next year, both financially and with the quality of your healthcare. Just give Cosmo Insurance Agency a call. We will simplify the process for you!
Mark Herschlag is CEO of Cosmo Insurance Agency, which is based in Ocean County. Cosmo Insurance Agency offers personalized solutions for individuals and businesses looking to obtain health, life, dental, long-term-care or disability insurance.
For more information or for a free, no-obligation quote, please call 732-363-3888 or email [email protected].