Five Tips to Help You Prepare for Healthcare Open Enrollment 2020
Five Tips to Help You Prepare for Healthcare Open Enrollment 2020
Each year open enrollment season offers Americans the chance to enroll in a new plan or change their plan so that it better meets their healthcare needs. The ongoing public health crisis and its economic impacts have led to more than five million Americans losing their employer-sponsored health insurance between February and May of this year. That means that more people than ever before are expected to enroll in a new healthcare plan this year.
To help protect your wellbeing and your wallet, it’s important that you understand your healthcare options and benefits, especially if you manage one or more chronic diseases.
Enrollment in the right plan can go a long way in protecting your health and your finances, and the more informed individuals are about their personal health journeys and financial situations, the easier it becomes to select the right plan and feel confident about the year ahead.
This year the health marketplace has more plan options in markets across the country, with slightly lower average prices than in past years. Federal subsidies are available for Americans and are dependent on estimated income projections for 2021.
The five tips below are a great place to start to plan for the best decisions for you and your family during the enrollment process. Don’t forget to enroll or re-enroll in the marketplace by December 7 if you are switching your Medicare plan.
Know Your Healthcare Needs
We all have a unique health journey. Write down your healthcare needs including any expected doctor’s visits and treatments. If you have a chronic illness, ask yourself what you need to manage your illness, to stay on track with your treatment plan, and to focus on your long-term health.
Expect the Unexpected
Choose a plan that offers assistance in the event of an unplanned emergency or hospital stay. This is especially important if you are considered high-risk during the pandemic.
Calculate Your Costs
Don’t forget that in addition to your monthly premium and annual deductible, you also pay copays for doctor visits and medications. Review how often you go to the doctor and how often you go to the pharmacy for prescriptions. Calculate how much you pay out of pocket for your medical expenses so you can decide what plan makes the most sense for you and your family.
Understand Your Coverage Options
What medical services are important to you? What treatments and prescriptions will you need next year? Review the services available through each plan and make sure the coverage accommodates all or as many as possible of the services you will need.
Ask for Help
If you are shopping for healthcare plans and need help with your application, you can connect with a certified Marketplace agent near you at no cost. Just fill out your city and state or zip code to get started: https://localhelp.healthcare.gov/#/
Taking the time now to properly review your healthcare coverage options and plan ahead for the new year can give you the clarity, confidence, and reassurance you need to kick off 2021.
