Zinn Insurance Blog | Monique Zinn – Individual Enrollment: Everything You Need to Know
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Health Insurance, Healthcare, Healthcare Reform, The Exchange - Written by on Friday, October 27, 2017 20:52 - 0 Comments

Individual Enrollment: Everything You Need to Know

shutterstock_347663228Signing up for insurance can be overwhelming. From new laws on the horizon to prices, coverage and prescriptions, there’s so much to research, and it all affects your health and quality of life, not to mention your wallet. Talk about too much to handle. Read on for everything you need to know when signing up for individual insurance during the 2018 enrollment period.

  1. Enrollment Starts Now. One of the most important things to know is that open enrollment begins on Nov. 1 and ends on Dec. 15. That doesn’t give you very much time to choose a plan that will be in effect through all of next year. If you’re working with a broker (check out No. 4) they are likely taking appointments NOW to get you situated before the Nov. 1 start date, so most importantly, don’t delay!
  2. Renew Plans or Switch. If you have a plan, it should automatically renew. However, your plan may not be the same as last year. Everything from co-pays, drug prices and coverage on certain procedures can change – so it’s important to check out the changes in your plan to ensure that you still are getting what you need and can afford. Alternatively, you may want to choose a new plan that best fits your needs. And don’t forget – there’s still penalty for not having insurance at all, so whatever you do, make sure you’re covered in 2018.
  3. There’s No Extension. If you miss open enrollment, you’re out of luck and you’ll need to wait a full year to get insurance again. Not only will you be hit with penalties (2.5% of your income, with a max of $2,085) but you’ll be without coverage for an entire year unless you meet certain situations that qualify for special enrollment. These are: divorce, marriage, birth or adoption of a child, death of a spouse or partner, loss of spouse’s insurance or loss of employer-sponsored insurance.
  4. Use a Broker. Using an insurance broker is the easiest way to navigate the waters of insurance decisions. Not only will they know all the new laws and regulations (on and off the exchange), but they will have access to all insurance plans available to get you the perfect coverage and the lowest price. The best part? You don’t have to pay since the insurance companies foot the bill. So…you have nothing to lose!

Now that you know all about open enrollment, give us a call to set your appointment with our knowledgeable brokers to take the next step and get you signed up. We can sign you up for plans both on and off the exchange. We’re taking appointments now for slots starting Nov. 1. Call us at 866-405-7226 and take charge of our 2018 open enrollment.

 



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