It is that time of year. Open Enrollment for individual insurance coverage through and outside the exchange must be completed by December 15th to secure coverage for 2018. Much has changed in the Individual Health Insurance market place:
· There are fewer carriers – Aetna, Cigna, Humana, Memorial Hermann and United Healthcare have withdrawn from offering individual coverage
· No PPO’s Left – The only carriers offering coverage, are offering HMO’s (Health Maintenance Organization – No out of network benefits and referrals / pre certification’s are required).
· Rates have increased, as much as 49% – with some carriers
· Subsidies remain in effect however, cost sharing reductions have been eliminated (no more low deductibles for those that qualified for financial assistance).
· Christian Healthcare Ministries – are becoming more prevalent. For more information CLICK HERE
What does all this mean? Well, if you are currently insured (individually) with one of the above mentioned insurance carriers, you will need find alternative coverage and should expect to pay much more than last year. We have attached the guide below to provide information in determining if you qualify for financial assistance.
We are here to help where we can. While we do not have control of the insurance market place, we do have experience to assist you in making an informed decision. If you are healthy and would like to consider a Health Care Cost Sharing Ministry, we have new products that could help.
Call Crystal Calaway, Carla, or Bianca in our office for assistance during this open enrollment time at 800-362-2809.