For people who have been going without Health Insurance during the Coronavirus Pandemic, good news! Relief is in sight.
Recently, in January, the President signed an executive order to re-open the Federal Marketplace for three months, starting February 15th and continuing through May 15th of 2021. This allows those who are uninsured to enroll in Health Insurance, as well as those who currently have coverage to change their Marketplace coverage, can also do so. This means if you already have coverage, but would like to switch to a cheaper plan with a higher deductible, that is allowed. Furthermore, if you are currently covered under a COBRA plan, you are able to drop COBRA, which can often be expensive, and sign up for a Marketplace Plan.
If you lost your job, resulting in loss of coverage, now is the time to choose and enroll in a new plan. Typically, the annual enrollment period for purchasing and enrolling in Health Insurance is in November, but with this Special Enrollment Period in effect, anyone who doesn’t have coverage and is in need of coverage can sign up without waiting for the Fall Enrollment.
In addition to the newly reopened ACA Marketplace, there are a lot of uninsured people who, even before covid, were eligible for hefty Marketplace subsidies or for Medicaid and were not aware of it.
If you are unsure if you qualify for subsidies that will offset the cost of your Health Insurance, or if you are interested in hearing more about current available plans in your area, it’s recommended to utilize a licensed and trusted local insurance advisor, like a broker – whose services are free. A broker will look over your current plans as well as to present you with all plan options available in your area, and help you understand the benefits offered and how to use them. Using a broker can also afford you with some perks. For instance, your broker can assist you with claims issues, billing issues, and can speak to the insurance carrier directly on your behalf, often resulting in expediting and resolving issues more smoothly, and more quickly.
If you would like to hear from one of our licensed and trusted Arizona local insurance brokers at Group Plans Inc, please contact us to set up a time that we can discuss your options together! (623) 889-7600