Open Enrollment: What You Need to Know and How to Prepare

Having the right health insurance is an essential way to ensure your family’s long-term well-being and financial stability. However, finding and maintaining the right health plan is not always simple. Each year, open enrollment allows you and your loved ones to reassess your coverage needs and make necessary adjustments. Knowing how to approach this process is integral to ensuring access to the care you’ll need in the coming year.

What Is Open Enrollment?

Open enrollment is an annual period during which you can make coverage choices regarding your health insurance for the coming year. Whether you’re purchasing a plan for the first time or making changes to this past year’s coverage, a comprehensive and well-informed approach is crucial during this time to ensure you aren’t underinsured.

How to Plan Your Enrollment

Although enrolling in a health plan or making changes to your coverage may seem intimidating, you can curb difficulties or confusion by planning ahead. Consider the following steps:

• Research plans. Even if you are satisfied with your current insurance, look for other options that might offer the same coverage at better rates. Additionally, don’t assume your current plan will stay the same. Check to make sure preferred providers remain in your network.
• Consider life events. If you’ve undergone any major changes in your life, such as getting married or having a child, you’ll likely want to adjust your coverage accordingly.
• Reassess your health. You may have different coverage needs than you did last year. If you’ve developed a new disorder or expect to require a certain procedure, consider adjusting your coverage to limit these newly anticipated medical expenses.
• Understand deadlines. Do not miss the deadline to enroll in coverage for the coming year. Open enrollment often runs from Nov. 1 through Jan. 15 of the following year, but some states may adjust this schedule. Additionally, many employers may set their own dates for enrolling in group plans.

Get the Right Health Insurance

Contact BenefitsDrive in Vienna , VA, today to learn more about open enrollment or discuss coverage options.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.