October 7, 2019
Open enrollment is right around the corner for many Americans and it’s important to consider your options and plan for the year ahead. Typically, open enrollment will start on November 1st.
For those individuals purchasing insurance subsidized by the government, there are two primary insurance companies that provide individual health plans for Kenosha and surrounding areas. These companies offer several plan designs, all of which are network-driven. That means that they don’t offer out-of-network coverage except in case of emergency.
While the pricing is similar between the two major carriers, there are differences in service and in access to physicians. Consumers should do research and compare to find the policy that is the best fit. Things to keep in mind include location of doctors and hospitals; whether a higher deductible works with your household budget; and where you live, as rates are based on geography and demographics. Consumers can also purchase short-term insurance policies, one or three years (the three-year policy has an annual renewal process).
As job openings remain unfilled in a variety of industries, employers are offering more lucrative benefits packages, as a way to attract - and retain - employees. In fact, employers are allocating more money in their organizational budgets to purchase employee health care plans. The competition for new employees is high throughout the country; employers are offering full benefits, including health, dental and vision.
This is indicative of what consumers can expect in future open enrollment periods. Due to the healthy economy and shortage of candidates in many industries, American consumers will likely see more employer health insurance options as well as lower pricing.
All of this information is important to remember and consider during this year’s open enrollment cycle. Pay close attention to what is offered by your employer, including deductibles and in-network co-pays, the location of the doctors who are most relevant to you and your family and your own location. Contact the Valeri Agency team with questions or to discuss your coverage needs. We are here for you. Because local matters.