More Americans have lost coverage due to COVID-19 than anyone originally anticipated. An estimated 5.4 million, however that number won’t be confirmed until 2021. While you would think fixing this colossal issue would be on the President’s top priority list, especially given recent news, the White House has proven ignorant on coming up with any solutions. As we are approaching November with haste it is my duty to talk to you all about Open Enrollment and your options for health insurance soon! First you should understand that the ACA (Affordable Care Act aka Obamacare) is under direct fire and its future is hard to predict. Therefore the future of healthcare is up in the air. Biden may want to expand on it, whereas Trump has already expressed his plans to the Supreme Court of overturning. Why does this matter? Because soon you are going to be able to vote and this directly influences you, your family and your future. Especially if you live in 1/35 states that participate in the Healthcare Marketplace. Having no options left, I’d guarantee many of those 5.4 million didn’t know they could call and ask for extensions on their premiums. Most companies allow you a 30 day grace period if you aren’t receiving financial assistance. If you are getting financial assistance, you have a three-month grace period. Some states can lower health plan premiums for a month or more, called a “temporary premium reduction” with prior approval from the Marketplace. Why is it that especially in a global pandemic these companies don’t inform their customers of all their options? One can’t help but wonder if they actually care that they’re playing chess with peoples’ lives. No matter what your opinion is – get out and vote. For the next 2 weeks I will be posting articles to aid you all through Open Enrollment and will also be going live on Instagram! (@succex_x_xful) Don’t forget if you’d like to speak with an agent today about your options please call us at 833-286-3064 – we are here to help!
<center><b>Open Enrollment is around the corner!</center></b> In the health insurance world, this is one of the most important stretches of days, if not the most important. An Open Enrollment Period <b>(OEP)</b> is when you’re allowed to start, stop or change your health insurance plan. Each year the OEP lasts 45 days, November 1st to December 15th. Normally, you sign up around the end of one calendar year for coverage that lasts the next full year. So how does one prepare for an <b>OEP</b>? Familiarizing yourself with how the Marketplace works is a great start. First and foremost the Marketplace is for people who don’t have health insurance. This can be because you are an independent contractor and do not have job offered insurance for example. Second, what you pay for your premium depends on your income for the year (expected household income for the year you want coverage, not last year’s). You can get a rough estimate using this tool (https://www.healthcare.gov/income-calculator/) to help calculate each household member’s income. Based off of this number, you can qualify for a premium tax credit that lowers your monthly insurance bill and more. Read the final tip on <a href"https://succexxxful.com/open-enrollment-period/">succexxxful.com!</a>