With so many different types of health insurance plans out there, you might be asking do I need to do anything during open enrollment? Not all health insurance plans need action during open enrollment. Learn if you need to do anything or not during this open enrollment period.
Do I Need To Do Anything During Open Enrollment?
The annual health insurance open enrollment period is officially from November 1st to December 15th. If you have an Affordable Care Act policy, then you have the option to enroll, change, or renew your coverage for the next year during this open enrollment period.
If you have a health insurance policy through the marketplace, healthcare.gov, Obamacare, ACA, etc. then you need to take action during this open enrollment period. Your plan may or may not automatically renew for next year. Even if you want to keep the same plan for next year, it’s important to talk with us so we can “force the renewal” so you get confirmation right away of the renewal, rather than waiting.
I’m on a “short term” medical insurance plan:
Short Term Medical insurance plans are a lower-cost alternative to the ACA/Obamacare policies and have terms of 1 to 36 months long. Unless you are waiting to switch to an ACA/Obamacare plan, we don’t need to talk during open enrollment. We can talk when it gets close to the end of your current term.
I currently have a health share plan:
We need to talk as soon as possible. Health shares are not insurance and they have zero obligation to pay claims. Even though they use religious affiliation to gain trust, they can leave you in a horrible financial situation if a major claim happens.
I’m Getting a Lower Price Based on Income:
We need to talk during open enrollment. Things change from year to year. It’s important to make sure everything is up-to-date to make sure you are maximizing your savings and/or not end up with an unexpected increase in your taxes.
I’ve been on the same plan for several years:
I’m glad you’ve been happy with your plan. A lot can change over several years and even from one year to the next. Carriers move in and out of areas and new plans become available. It’s important to double check which plans are best for you to make sure you are getting the best value.
I want to keep my same plan for next year:
Great! Renewal is easy then. However, we should still talk just briefly to double check that everything is up-to-date and correct, and then force the renewal so you get immediate confirmation rather than waiting for it.
I’m on a “TriTerm” Medical Plan:
TriTerm Medical plans are great plans that last for 3 years. You don’t need to do anything until it gets closer to the end of the policy, unless you are wanting to change your plan.
Still Asking the Question Do I need to do anything during open enrollment?
If you are still asking the question Do I need to do anything during open enrollment? Then feel free to contact us and ask. There is no harm in double checking. Health insurance is such an important part of our lives and our financial security.