It’s Open Enrollment season, so you may be busy shopping for a new health plan for the year ahead. When it comes to picking a health plan, it’s important to look at more than just the monthly premium payment. This includes deductibles, co-insurance, copays, rewards, perks, and other money-saving ways.
If you’re ready to pick a plan, here are five things you should remember while browsing the Health Insurance Marketplace.
- Open Enrollment dates. In Florida, Open Enrollment begins each year in the fall. If you’re shopping for coverage through the Marketplace, you’ll want to remember that Open Enrollment runs from November 1 – December 15 for coverage beginning January 1, 2024. You can also enroll between December 16 and January 15 for coverage, but it won't start until February 1, 2024. It’s a good idea to shop early so you can avoid being part of the last-minute rush and possibly long hold times. Plus, you’ll be set before the holidays, so you have one less thing to worry about. If you don’t enroll in a plan by January 15, 2024, you can still get coverage if you qualify for what's called a Special Enrollment Period. These changes include getting married or divorced, having a baby, moving to a new county, or losing your previous coverage.
- How to compare plans. When you’re ready to pick a plan, it’s important to compare details about your options. Before renewing or choosing a new plan, ensure the doctors, pharmacies, and other healthcare facilities you use are in the network for the plan you’re considering. And look closely at the out-of-pocket costs to ensure the plan fits your budget.
- Receiving financial help. You also may be able to get help paying for your health plan. According to the federal government, 9 out of 10 Floridians qualify for financial help through the Marketplace to lower their monthly payments.1 Your payment could be as low as $0 per month, depending on your income if the amount of your monthly financial assistance (also called a subsidy) is equal to or more than the premium.
- Considering health needs. The amount of coverage you need can change from year to year. Maybe you or a family member have a planned surgery or procedure coming up. Maybe you know your medication needs will be different than in previous years. These are things to consider every year in order to make sure you’re choosing the right health plan.
- What perks are available? When deciding on a health plan, it’s also important to review other value-added benefits you may not have previously considered. Are there registered nurses you can talk to for no extra cost? Or doctors who are available for virtual health care visits when it’s convenient for you? Does the health plan offer easy access to your plan benefit information through their website or mobile app? What about virtual care benefits? Are there discount programs available to save you money on health and wellness programs and products? Can you earn rewards for completing important screenings or immunizations? While these benefits aren’t necessarily deal-breakers when it comes to choosing a health plan, they can provide additional ways for you to save money and get the most out of your health plan.
Want more information? Reach out to a Florida Blue Center or a local licensed Florida Blue agency. Florida Blue has been serving the state for almost 80 years and available on the Marketplace from the beginning.
2HEALTH INSURANCE MARKETPLACES 2023 OPEN ENROLLMENT REPORT (cms.gov)