3 Easy Tips To Get Ready For The Open Enrollment Period


Remember when you’d sign up for a health insurance plan, and you’d keep it for a few years (or more), until you got a rate increase and decided to look around for something else?

Like everyone’s favorite dinosaur, Tyrannosaurus rex, that way of doing things is extinct. With every new Open Enrollment Period (that’s the three month period of time every year that you’re allowed to buy health insurance), the Colorado health insurance market gets skinnier and skinnier, in terms of the number of options for Colorado consumers.

During the last Open Enrollment Period (OEP) that started November 1, 2015 and concluded January 31, 2016, Coloradoans had 413 different health insurance plans to choose from. This year, the proposed list (it’s not quite final, pending approval of all plans by the Department of Insurance) contains only 275 plans. That’s a 33% decrease in your options. Don’t believe me? Check out the list on the DOI’s site for yourself.

Tip #1: Watch your mailbox

If your plan is going away, you’ll hear about it from your carrier a few weeks before the OEP begins. If you’re a ColoHealth client we’ll get notified about your change as well, so you’ll be hearing from us too.

Sometimes when your plan evaporates, your carrier will choose a plan for you in the event that you don’t make your own choice. Do not let this happen to you. It may turn out that the plan you’re automatically moved to ends up being the best deal for you, but make sure you thoroughly investigate your options, because you’ll be stuck with your plan for the upcoming year, at least.

Tip #2: Don’t wait until the last minute

Because we anticipate that a lot of people are going to lose their coverage, or will experience rate increases of such magnitude that they’ll be scrambling to find something more affordable, don’t wait until January to evaluate your options. As soon as the new rates are approved, we’ll have them, so use our instant quoting system to find a better deal.

Tip #3: Consider novel options

This year we’re excited to offer coverage through Altrua’s faith-based health care sharing plans for those who are interested in opting out of an Affordable Care Act (ACA) plan. These plans are boasting monthly contributions that are about half of that of ACA premiums. Read more about Altrua, and faith-based plans – you could save significant amounts of cash every month.

  Date posted: Friday, September 16th, 2016
Category: Health Care Reform, Health Insurance

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