1. Know What You Need to Know
Rather than wait until open enrollment, go ahead and explore the Marketplace now so you can start mulling over your options and avoid the time crunch that comes with deadlines. If you recently changed jobs, ask your employer if the company offers any type of health coverage for which you might qualify. Make note of what’s available to you and gather all necessary information. If your employer offers you health insurance, you may not qualify for a Affordable Care Act subsidy. Knowing this in advance can help you then the time comes.
2. Get Your Budget Ready
While health insurance is great to have, it’s another monthly expense to keep up with if you want to keep your coverage. Now is the perfect time to not just look at your current budget, but give it an overhaul to make room for those upcoming insurance payments. Restructuring your budget also lets you know what kind of plan you can afford.
3. Make Note of Deadlines and Key Dates
Use the calendar app on your phone or computer to make note of the most essential deadlines and dates so you don’t risk being too late for enrollment. To reduce the risk of a mishap, change deadlines and dates to a few days earlier on your calendar to give yourself a grace period in case you need more time to submit all necessary information. For instance; some insurance carriers will drop you immediately if you miss your first payment.
4. Educate Yourself
Don’t purchase a policy blindly. As you’re exploring your options, make note of any terms or phrases you don’t understand and research them or ask you qualified health insurance broker. Understand how health plans work, how much your deductible will be and which local medical facilities and physicians accept the plan you’re considering. Know your policy and everything in it inside and out.
5. Gather Everything You Need to Apply
Go ahead and start getting all the paperwork, documents and information you need to successfully enroll. For instance, you’ll need the Social Security numbers of everyone who will be covered by the plan, information from your W-2 forms and documentation if you’re a legal immigrant.
For more information on how you can be fully prepared for the next Health Insurance Marketplace open enrollment, contact Sackett & Associates Insurance Services, like us on Facebook, find us on LinkedIn and subscribe to our blog.