January 08, 2021
Will COVID-19 Affect My Health Insurance?
As thousands of people have been affected by COVID-19, many patients, doctors, and health insurance brokers are asking how the pandemic will affect medical costs, insurance coverage, and premiums. For individuals and small businesses, keeping up with premiums has been nearly impossible due to economic hardship and job loss. Furthermore, thousands of claims over the past 12 months have cost insurance companies billions in coverage.
The resulting disruption in health insurance coverage could have significant impacts on health care access and delivery. One of the biggest impacts is people seeking affordable health insurance outside of the workplace since losing their jobs or working at home. For many people, job loss means losing health coverage in between open enrollment periods.
Insurers planning to offer health plans on the Affordable Care Act (ACA) marketplaces must submit filings to state or federal regulators detailing their plan offerings and justifying their premiums for the upcoming year. This means that health insurance providers must make a case for why they are increasing or decreasing their premiums.
This year, insurers set premiums for 2021 due to the coronavirus pandemic, which has created considerable uncertainty as to what health costs, utilization, and enrollment will look like during the next enrollment period. So, if you are concerned about your health insurance premiums climbing due to COVID-19, you may have to wait another year to see what happens.
One of the factors that will determine health insurance premiums and coverage will be medical costs. Many insurers expect health costs to increase in 2021 due to demand for COVID-19 testing and treatment and vaccination costs, assuming a vaccine will be ready and available to the general public within the next 12 months.
Some insurers also anticipate increased death rates resulting from delayed medical care (caused by patients not going to the hospital) and the impact of delayed or deferred care on chronic conditions, as well as from the impact of the economic downturn on individuals’ health and insurance status. Medical costs may increase as the demand for medical care increases due to a climb in COVID-19 cases.
In most cases, people may have to pay nothing for the COVID-19 vaccine. Government officials know that cost is often an obstacle to obtaining healthcare, so laws and regulations were implemented earlier in 2020 to ensure that most people would access the vaccine at no cost.
Since American health insurance coverage varies from company to company, it is important to learn and understand specifics about your plan. For the duration of the COVID-19 pandemic, most people will have access to free COVID-19 vaccines. In some cases, coverage details will differ in later years, once the COVID-19 public health emergency is over, assuming the public will continue to receive COVID-19 vaccines regularly.
Because FEMA declared COVID-19 a national emergency, anyone who qualified for a Special Enrollment Period but missed the deadline because of COVID-19 may be eligible for another Special Enrollment Period.
Anyone on the Marketplace application who lost coverage anytime in 2020 but missed the deadline to enroll because they were impacted by the FEMA-declared coronavirus disease 2019 (COVID-19) national emergency may still be eligible for a Special Enrollment Period. If you lost your insurance due to being out of work or some other condition, you can also speak with a health insurance broker or agent about getting coverage out of the Marketplace.
A More Personalized Approach to Health Insurance
Affordable Insurance Plans
You can save up to 50 percent on insurance premiums throughout the year. You don’t have to pay top dollar for quality health insurance.
Straightforward Underwriting Process
We match your individual, family, or group health insurance needs with the right insurance plan. Our underwriting process is simple and straightforward
Quality Customer Service
We are here during the moments when you need us the most. From enrollment to processing your claims, you can count on our reliable customer service.
Critical Illness Coverage
We can help ease the financial pressure of medical costs by providing a lump sum cash benefit directly to you during diagnosis or treatment
Simple Comparison Shopping
Comparing insurance companies should not have to be so difficult. To make it easy, we compare health insurance options to find a policy that meets your needs.
We automatically re-enroll you annually to ensure that you have the insurance coverage you need. You receive a notification to review and approve the renewal.
Which Health Insurance Plan is Best for Me?
You may be wondering which health insurance company is the best? When choosing a plan, you first need to assess your personal healthcare needs, look at all your options, and choose a health insurance plan that fits your budget. How do you determine which health insurance is best? Ask yourself these questions:
- How often do you visit your doctor?
- What type of treatment do you need in the next 12 months?
- What prescription drugs do you currently take?
- Which healthcare providers/physicians do you prefer?
Once you decide your healthcare needs, you can narrow your search to health insurance companies in your state. Some of the health insurance providers that we work with include:
Welcome to the MultiPlan PHCS Network
What are the benefits of PHCS coverage? You get to choose any doctor within the PPO network. This gives you an additional opportunity to save your healthcare dollars. MultiPlan’s PHCS Limited Benefit Network gives you discounted access to qualified doctors, healthcare facilities, labs, imaging centers, and hospitals at no additional charge.
Multiplan is one of the oldest and largest healthcare networks in the U.S. Currently, MultiPlan contracts with over 770,000 respected practitioners, 5,000 hospitals, and 70,000 ancillary care facilities, making it easier than ever for you to find a participating healthcare provider in your area. You save an average of 20-30% off inpatient and outpatient hospital charges when you use the MultiPlan Network.
Contact Insurance Enterprise for Premier Health Insurance
If you have questions about group or individual health insurance and need health insurance quotes, contact Insurance Enterprise at 888-350-6605. Speak to a licensed agent and find out more about how you can get an affordable health insurance plan.