Open Enrollment for Health Insurance: What Should You Expect?

Open enrollment for health insurance is nearing. Are you ready? The health insurance marketplace will allow people to start enrolling in insurance plans for 2016 beginning November 1, 2015. If you do not have health insurance in place for 2016, you'll need to utilize the marketplace as a tool to help you get it.

It's also one of the biggest times for students to enroll in health insurance if they are no longer covered under their parents' policies. But don't worry. The process doesn't have to be overwhelming or difficult.

ANALYZE YOUR NEW NEEDS

With fall approaching, it's time to sit down and think about all of the ways your life has changed, in relation to health insurance needs. In doing so, you'll be able to develop a plan of action for when open enrollment begins.

• Have you had a child this year who is not otherwise covered?
• Are you no longer on your parents' insurance plan?
• Are you no longer receiving insurance through your employer?
• Has your health changed significantly and you need new or different coverage?
• Did you get married or divorced?
• Did your spouse pass away?
• What other changes have occurred that you now need to factor into a new insurance plan?

CONSIDER EXISTING POLICIES

Next, take into consideration your current coverage. If you purchased health insurance through the marketplace last year, you don't necessarily need to shop for a new plan (you can continue using an existing plan.) However, if you are unhappy with the current plan, now is the perfect time to look for alternatives. Consider:

• Is your current policy affordable?
• Does it provide a too-high deductible?
• Do you want a plan that offers more coverage options?

When the health insurance marketplace opens, you'll be better able to compare product options. You'll also have the ability to consider various new offers.

WHAT SHOULD I EXPECT?

You have several options available to you. You may already be enrolled under your parent's plan, need to purchase a student health plan from your college, purchase a private health plan through the marketplace, qualify for Medicaid coverage, or invest in a catastrophic health plan. If you plan to purchase through the health insurance marketplace, the marketplace will help you find, compare and enroll in health insurance that meets your needs. You can do this online, over the phone, or even in person.

When you apply, you'll need to discuss essential health benefits you need, any pre-existing conditions you have, and preventative care you need. Then, you'll be able to see various plan options that fit your specific goals. Various health care premium options will be available.

If you are enrolling for classes at Concorde Career College, now is the time to think about your health insurance needs. And, if necessary, get ready for the marketplace to meet your financial goals.

Let Concorde put you in a position to understand the bigger health care environment more fully. Check out our Health Information Management program so you're in the know.