It’s that time again!!
Open enrollment is almost here! It’s the time of year that we’ve all gotten used to usually getting bad news!! And this year will be no different for people who are under 65 and get their health insurance outside of an employer plan. We all know what happened with Health Republic- there have been many health plans across America that have closed up due to financial reasons. Networks are shrinking, premiums are increasing and no one is happy! Individual plans are still in network only. Plans and rates should be out by the middle of October. Once again it will be a matter of choosing the best of a mediocre lot! Everyone is anxious to see what the new administration will do with this – but whatever they do, it will take some time. So when you choose a plan, choose wisely as you will be “stuck” with it for another year (unless you enter a special election period). There is some good news – a few associations have come out with plans that you should take a look at. Some of these plans will have in and out of network options. Please contact me for information.
This is also open enrollment for all Medicare beneficiaries. This is the time you can change plans that will be effective January 1,2017. There are lots of good choices-supplemental plans as well as Medicare Advantage Plans. While some plans will not be renewing for January 1, some of the more popular plans are back in play. Medicare Advantage Plans are network based – although there are plans with in and out of network benefits. Network Plans have always been a hot topic for discussion – how limited they are, the restrictions imposed-l can go on and on. The truth of the matter is – different strokes for different folks. Network based plans can work for you if your doctors are in the network – and there are zero premium plans that are very attractive. But- if you can’t find a plan that your doctors belong to, then a supplemental plan might be the one for you. While the two most popular supplemental plans are Plan F and Plan F HD (high deductible), there are many choices. Premiums vary and as long as your doctor is in the Medicare system, you should be good. Just like the under 65 plans – you need to choose wisely. You can make as many changes as you want, but the last plan you pick will be the one that will cover you through 2017 (in lieu of a special election)- so choose wisely.
As always, please feel free to reach out to me if I can help you with open enrollment season or with any other insurance needs!
