Health Insurance Open Enrollment – is a critical time of the year for everyone! Health Insurance is one of the necessary evils in life. We never want to pay the premiums, but it is invaluable when you need it. If you have ever experienced a catastrophic illness yourself or have known someone who has gone through one, you know how difficult it can be and how expensive it is! There are so many options when it comes to Open Enrollment for health insurance. Some of the options include group health insurance plans and plans run by the government, which all have their own unique Open Enrollment period. Each type of insurance has its specific benefits and pros and cons Who is Private Insurance For? If you cannot get group insurance through your employer, or if you do not qualify for plans sponsored by the government, then private health insurance is the way to go! Open Enrollment for private insurance plans is different than for other procedures. It is essential to know when the Open Enrollment period occurs. Since most group plans are available through your employer, you need to consider getting self-employed health insurance coverage if you work for yourself. It is imperative to be aware of when Open Enrollment takes place.
You should also look for private insurance plans if you work part-time, are unemployed, are a student, or work for a smaller company that doesn’t offer insurance coverage. If you do not fit into one of those categories, see if there is a way to be added to someone else’s policy or get group health insurance in another way. Find out the Open Enrollment period for self-employed plans and private plans by contacting an insurance agent.
Optional Ways to Find Insurance Coverage
If you are under age 26 and are not married, you can probably still be added to your parents’ health insurance plan. If you are married, you may be able to be added to your spouse’s health insurance. Find out now when the Open Enrollment is for these types of plans right away!
Benefits of Private Health Insurance
What are the benefits of private health insurance? The most significant benefits of private health insurance are related to selection and choice. If you go through group health insurance, you often only have one or two plans to choose from. You also have the freedom to choose your deductible amounts and, in some cases, your health insurance copayments or coinsurance amount. Your employer or insurance agent tells you what the Open Enrollment will be. With individual insurance, you can choose a plan depending on your budget and medical needs. You can also add dental and vision riders or services. As part of your options, you can choose a plan that includes coverage for the physician of your choice, facilities, etc. You also will continue to be covered as long as you pay your premiums on time. This is not the case with group insurance, in which if you change or lose jobs, you lose your insurance coverage.
Things to Watch Out for With Private Insurance
Some individuals lower their health insurance premiums by increasing their deductibles. This may reduce the cost every month, but if you had an emergency or a significant health issue, you would have to pay the entire deductible before your coverage began. In private health insurance plans, even if you are accepted for coverage, your premium will be a lot higher if you have health issues.
In Summary
Health insurance rules vary from state to state. Because of this, premiums and coverage regulations may be different if you move. Other conditions may also offer different Open Enrollment periods. You may want to call an insurance agent that offers private health insurance or self-employed plans and individual plans now and find out more! Sign up today to protect you and your family! Contact John Miller, at John Miller’s Insurance Company today!