It is that time of year again, the time most Americans may enroll in health insurance to cover them through the upcoming year. Open Enrollment is a period of time that runs from November 1 to December 15 in most states where individuals may add, drop or make changes to their health coverage. What can we expect with this years Open Enrollment Period?
More Carrier Options
For the first time in several years, carriers are expanding into new service areas in a significant way. Many carriers have announced expansions into new states and/or counties, meaning more coverage options for you in 2020!
No Penalty for ACA-Alternatives
There will be no federal tax penalty for failing to enroll in Affordable Care Act (ACA)-compliant coverage for 2020. This means that lower-cost product options, such as short-term medical, limited
medical, and other ancillary plans, can be enrolled in without the threat of a federal tax penalty for failing to secure ACA compliant coverage.
Many carriers haven’t filed major premium increases for 2020, signaling stabilizing prices in the ACA market. Many ACA premiums are lower after years of premiums on the rise. While some customers may still see increases, indications are that they will not be widespread.
Expert advice at your fingertips
Through VelaPoint Insurance, you have exclusive access to a free health and supplemental insurance shopping service, staffed by licensed insurance experts in all 50 states. Shop, compare, and enroll—all in one easy call.
You have Options
If you live in an area with limited health insurance options, find the premiums too expensive, or your doctor isn’t in-network, traditional health insurance isn’t your only option. Plans like short-term medical or limited medical may offer other benefit options at typically much lower costs. Short-term medical coverage has also been extended to 364-day coverage terms in some states. A licensed agent can also help determine if you’re eligible for cost-share reductions and premium tax credits.
Insurance packages pave the way to save
Insurance plans that are designed to work together could help you save on deductibles, prescriptions, and hospitalizations.
Interested in learning more?
For a free quote, a comprehensive needs analysis with a licensed agent, and to compare your options, call 855-548-0727 or visit velapoint marketplace.