Maximize your HSA e-Newsletter
October 2020
Vol. 16, Issue 11

2020 Health Insurance Open Enrollment Is Coming … Are You Ready?

For insurance professionals, the fall season is abuzz with activity. With 2020 Health Insurance Open Enrollment only weeks away, we tend to have more on our plate. That’s why I’m taking this opportunity to remind you that now is the perfect time to touch base with your Personal Benefits Manager.

Our team can make sure you’re still getting the best rates available. And if your coverage needs have changed, we can match you with a plan that makes sense.

The key is scheduling an appointment early, before we fill up for the season. Open Enrollment begins on November 1st, so the clock is ticking.

Need Better Health Insurance Rates in 2021?

Changing up your health insurance coverage is one of the quickest ways to fortify your monthly finances. Just think, there might be a plan out there that is more affordable than what you’re paying now. The provider isn’t going to call you to give you the heads-up.

An appointment with your Personal Benefits Manager (PBM) is like a checkup for your healthcare strategy. We can show you exactly what other options might be available that align with your goals.

Need a lower premium? There’s probably a way to do that. Need more coverage than you did last year? Piece of cake. Or, perhaps you’re fed up with health insurance altogether. Well, believe it or not, there are ways to pay less and stay covered. Your PBM would love to tell you all about them.

Has Your Income Changed Significantly This Year?

Needless to say, 2020 has been an interesting year for all of us. Millions of Americans have experienced a change in employment recently.

Whether you’ve been laid off, furloughed, had your employment reduced, or been able to increase your income, these changes can have big consequences. If you currently receive an ACA income tax credit and your annual income has changed, then you might qualify for a larger subsidy, or you may no longer qualify at all! (If that were the case, then your premiums could be set to skyrocket.)

There’s an easy way to see if your plan is going to be affected. Simply give us a call. We’ll find out whether your premiums are going to go up. And if they are, we’ll see if there is a more affordable option for you to consider.

Considering Health Care Sharing Plans as an Alternative to Expensive Insurance

Even before the economy began to dip, millions of Americans were struggling to afford health insurance. If you are one of the many people who doesn’t qualify for an ACA subsidy, perhaps you can relate.

Health Care Sharing Plans have been increasing in popularity as a way to buck health insurance altogether. This clever alternative is about half as much per month as an ACA insurance plan.

However, health share plans are more restrictive in terms of what medical expenses are shared. They also tend to have waiting periods on pre-existing conditions.

If you’re relatively healthy and don’t qualify for an ACA subsidy, health sharing might be the answer. Your Personal Benefits Manager can help you figure that out.

Schedule a Meeting with Your PBM to Discuss 2020 Health Insurance Open Enrollment

For health insurance professionals, the months leading up to Open Enrollment can be busy. In fact, we are usually fully booked before the year is out. This means it’s a good idea to call today and get something scheduled.

Even if you are happy with your current coverage, your Personal Benefits Manager will appreciate the call. It will give us the chance to touch base about your health strategy, and update our records accordingly. 

But no promises that we won’t end up saving you money anyway. Sometimes, we just can’t help ourselves.

To your health and wealth,

 


Wiley P. Long, III

President – HSA for America

The HSA for America Maximize Your HSA Newsletter is published monthly and emailed to subscribers at no charge. Subscribe now to stay on top of the critical information you need to know about health insurance, healthshare plans and managing your finances to achieve financial security.

 

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