Open Enrollment Ends December 15th

Open enrollment only lasts six weeks. The period starts on November 1st and ends on December 15th. So, you need to start your search for health insurance this week before you miss the deadline. If you enroll by December 15th, your insurance coverage will begin on January 1st. However, if you miss the deadline, most insurance companies will not grant you a policy until November 1st the following year.

Note: Don’t forget that even if you miss the December 15th deadline, you can still be eligible for individual or group health insurance with some providers. Check with Insurance Enterprise to find out how to enroll and what plans are available in your state.

Don’t Forget to Update Your Plan

If you currently have insurance but want to make some changes to your policy, simply contact your Insurance Enterprise agent. Discuss your current medical condition and what changes you need to make in your plan. You may also want to add a family member if your household has grown. Your agent can walk you through the process to adjust your insurance without any problems.

Make sure you update your plan before December 15th, as the same rules apply as enrollment. You have a small window to make the changes, and then you may not alter your policy again until next year. If you have any questions about your current policy, feel free to contact your agent. They can answer your questions and discuss what options are available in your current plan or other plans.

Remember the Basics of Healthcare Coverage

When enrolling in health insurance, remember the four basics of insurance costs, as they can affect how much you pay for coverage and medical treatment.

Monthly Insurance Premium – The monthly cost you must pay to maintain your health insurance coverage. This is often referred to as a monthly premium.

Copayments and coinsurance – Payments you make each time you get a medical service.

Deductible – How much you spend on covered services before the insurance company pays a portion of the covered services (except for free preventive services).

Out-of-pocket maximum – The most you spend on covered services in a year. After you reach this amount, the insurance company pays 100% for covered services.

It is important to understand how your health insurance policy works so that you know exactly what you will be paying for every time you visit the doctor. Your agent can go over the different types of plans available (HMO, PPO, etc.) and help you understand what your plan will cover and what it will not cover. They can also help you save money while maximizing your coverage through the right provider.

Preferred Provider Organization (PPO)

A PPO gives you more freedom to choose your provider than any other type of health insurance plan. You do not have to stay in the insurance company’s network or get a referral for treatment. You can choose which physician you want to see, and the health insurance company will pay a portion of the treatment.

However, if you go out of the network, you will likely pay substantially more for treatment services. You may also pay higher premiums in a PPO. Unlike an HMO, a PPO may not provide benefits or coverage for preventative care.