Health Insurance Open Enrollment 2018
Health Insurance Open Enrollment 2018 runs from November 1, 2017 through December 15, 2017. This is an opportunity to make any desired changes to your existing health insurance plan. This could be changing plan options with the same company or looking a plans from other companies. Those with an Exchange plan (obamacare) plan may want to look at other offerings in the exchange or possible outside of the exchange for 2018. For exchanged and non exchange based plans, the insurance companies can not block enrollment due to health issues. This is a guaranteed issue period on exchange and non-exchange type plans. All changes during this time will take place on 1-1-18.
Benefit Changes and Rate Increases
Benefit changes and the inevitable rate increases for the plans also take place on 1-1-18. The preliminary estimate shows that most companies will have increases of over 20% for 1-1-18. It is not yet know how the subsidy for those on Obamacare plans will be effected. Usually, those receiving an income based subsidy are best staying on an exchange plan given they are getting help with the premium. The monthly subsidy can be substantial if the insured persons income falls within the guidelines. Although the plans will be increasing their premiums, it is hard to tell how much of that will be offset by the subsidy.
Health Insurance Open Enrollment 2018: Other options
Those that are not planning on being able to get a subsidy for 2018 may want to explore other options. Non subsidized plan premiums are very expensive for someone age 50+ and the 20+ percent increase will only make that worse. A non subsidized silver level plan for a 50 year old is currently about $640 a month. After the increase that number will be around $768 a month.
Crowe and Associates has access to other non-exchange and non-subsidized plans for 2018 that have substantially lower premiums. Call our office to learn more at 203-796-5403 or email [email protected]
Our plan is a full major medical plan that waives the penalty for being uninsured. There are copays for services prior to paying any type of deductible. Rates are the same for all ages and are as follows…
- Single -$548 month
- Parent and Children- $898 month
- Couple- $1,022 month
- Family- $1,298.00 month