Every year, you need to prepare in advance for the next Obamacare open enrollment. That’s because every year, Obamacare/Marketplace plans change. Carriers adjust their policies. Networks available to you could increase or decrease. Therefore, you need to be ready to make annual adjustments to keep your health insurance where you want it.
When You Need to Review and Adjust Your Obamacare Coverage
The open enrollment period for Obamacare is between November first and December 15th. That’s when you should have conversations with your insurance agent or consultant. That’s the period in which you have the ability to start making any changes, looking at any adjustments you need to make including updating your income. That way, you will be all set to have your coverage adjusted starting January 1 of the following year.
You should start talking to your insurance agent or consultant in September to set appointments beginning November first. In my office, I’ll have those 45 days of open enrollment almost fully booked before November first hits so don’t delay.
The Right Conversation to Have With Your Insurance Agent or Consultant
When I cover this subject with my clients, there are many important points to talk about. I’ll ask them questions about all these points:
- Are they using any new doctors?
- Are they taking any new medications?
- How has the year been for their health?
- Are there any new health conditions?
- Are there income changes on the horizon?
- Do they have plans to get married?
- Will they have a dependent age off their policy or move out?
- Are there any plans to retire?
Retirement really could change our conversation because the income that I talk to clients about is their projected income, their 2025 numbers, not what 2024 is ending with. Your income might suddenly be half of what it was, transitioning from $80,000 annually to $40,000. That makes a big difference in your plan, the product you get and the price. You want to be ready to discuss all these points before open enrollment arrives.
Very Important! Don’t Miss Those Open Enrollment Dates
Make a note of these dates: November first through December 15th. That’s when I have the ability to start making any changes, looking at any adjustments, or updating your income. This review must be fully wrapped up by December 15th for your updated coverage to start on January first.
Don’t delay—set up your appointments early. Make that call in September so you don’t get left out. Remember, my 45 days of open enrollment are almost completely booked before November first.
Contact MBhealth Insurance Agency for Help Updating Your Obamacare
If you’ve been a client of mine for years and we’re continuing that client-consultant relationship, we’ll be pre-planning at each annual review. But if you’re brand new, call us. Let us talk you through the information we need so we can start getting it on file. Then once November first hits, you and I will be ready to make those decisions together. If you need this kind of help for your annual Obamacare review, call us at (314) 544-5400.
