The Affordable Care Act Open Enrollment period has reopened (Feb 15 – May 15th)
By Bob Smith, GABB Affiliate and Licensed Health & Life Insurance Agent
It has been almost 12 months since we began experiencing challenges brought to bear by the COVID-19 virus. The challenges have been on multiple fronts leaving few people unscathed. Due to no fault of their own, many individuals have been impacted by business closures creating an unenviable reality of lost employer sponsored group health insurance. Being able to afford monthly premiums with the loss of income can make shopping for health insurance devastating. This at a time when being without health coverage can cause a family a medical and financial crisis.
The Federal Government recently addressed this potentially dire situation by reopening of the Affordable Care Act Open Enrollment period. Effective February 15 thru May 15 individuals have an opportunity to select health insurance on the Federal Marketplace at healthcare.gov. Subsidies based upon estimated 2021 income can lower monthly premiums making the health plans affordable during this difficult time.
No one can anticipate the unexpected and being without health insurance creates a vulnerable situation. In order to avoid the medical and financial consequences of an illness, accident or injury it’s important to be proactive before the window of opportunity closes.
Selecting coverage that addresses a family budget can present pitfalls while there are resources to help avoid making a mistake in the plan selection process. The process can be confusing when considering provider networks, copays, deductibles and out of pocket maximums, etc. With this in mind consider utilizing the services of a licensed Georgia Insurance Agent who also has been certified by the Federal Government to represent the insurance companies on the Marketplace. In most cases the services provided by agents is at no cost to individuals as they are compensated by the insurance companies.
The Affordable Care Act Open Enrollment will end on May 15 for plans issued June 1, and applications submitted in March will be issued in May. The time to be proactive to secure health insurance is now.
Bob Smith, Licensed Health & Life Insurance Agent