Flor & Associates Insurance Agency

El Paso Texas Insurance Agent Flor & Associates Insurance

open enrollment

Common Open Enrollment & Health Insurance Questions

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obama-1301891_960_720-2During Open Enrollment you may have quite a few questions about the process and what can be done during this period of time! There are a few common questions that I have heard each year that I wanted to share and go over so you have a better idea of how everything works!

Do I have to sign up for all other types of insurance during Open Enrollment? The answer to this question is: No, you don’t have to! Open Enrollment is meant for the Health Insurance marketplace, and other insurance coverages can be bought at any other time—but that is not to say it might be easier to get it all done at once!

What if I already have a plan from last year? You should definitely review your plan to see if you want any changes to be made, like adjusting the cost, or adjusting your coverage! If you found over the year that your coverage was not up to your liking then it might be time to find a better plan or insurance provider! It never hurts to ask or to check what coverage you have!

When is Open Enrollment? This is a common, but very important question! Open Enrollment runs from November 1st and ends December 15th—so this only leavesbless-you-1175296_960_720 you with a 6 week window during the year to enroll in health insurance! If you do not enroll during this time you will have to go without until you have a “qualifying life event”, like giving birth to a child or getting a new job! Open Enrollment is a very important time of the year, and it should not be overlooked—even if you have insurance, and especially if you do not, Open Enrollment is a great time to take care of any issues you have with your insurance coverage (Or lack thereof)!

Health Insurance And Why It Is Essential

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insurance-3906680_960_720With the changes to healthcare requirements in 2020, we will start to see a larger amount of people who will be going without health insurance since new changes in the law say that there will no longer be a penalty for not having insurance!

I will start this out by saying: You should not go without health insurance—ever. The reason being is you might run into a health issue or accident that could completely ruin you financially or you might not be able to afford treatment—making your ailment worse! If you break your leg without insurance it can cost up to $7,000 out of pocket versus a $150 deductible with insurance!

We have all heard the stories where medical bills have ruined people and families, but due to recent laws we all now have the ability to enroll in healthcare coverage and finally end the cycle of financial failure due to medical bills! Medical debt affects about 80 million Americans each year and it is an issue that can be avoided by keeping and utilizing health insurance obtained during Open Enrollment!

Never allow yourself to fall into the notion that it is okay to go without insurance! Talk toinsurance-1991276_960_720-2 your agent about what you can do if you find yourself without health insurance coverage—especially during Open Enrollment, which is happening right now! Financial ruin due to untimely medical issues can be a thing of the past if you set up and keep health insurance coverage for yourself!

Health Insurance Changes To Look Out For In 2020

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dollar-1175293_960_720Shopping for health insurance can be overwhelming and with the new changes that come each year it can feel like you’re in over your head! Just like last year, 2020 will have some changes that may affect your insurance decision—and it’s always best to know what you are getting into beforehand!

The first change you should be aware of is that Short Term Health Plans are still available to those who need them! When the Affordable Care Act was first introduced these plans were only allowed to be used for 3 months, but now these plans can be used for up to 12 months! But be sure to remember that these plans do not typically cover maternity care or mental health! These plans are usually used by people with unexpected gaps in their coverage until they can get enrolled onto another full coverage plan!

Next change you will see is that there is no longer a tax penalty for not having health insurance coverage! It is never recommended to not have coverage due to the off-chance that something may happen to you—but if you do not have coverage in 2020 you won’t be penalized on your tax return! emergency-room-3323451_960_720

Another welcomed change to the Health Insurance marketplace in 2020 can be seen in premium prices becoming more stable and predicable! There will be less change in prices, and in some cases prices have been decreasing! You will also start to notice more of a variety in choice in insurance providers as well—if you had limited options last year it might be worth it to check your 2020 options with your insurance agent today!

Reasons You Want To Take Advantage of Open Enrollment

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calculator-1044173_960_720With Open Enrollment coming up, it is important to look at your personal situation and think about if there is anything that you would like to change with your health insurance. Things that you should take into consideration would be if you like your current provider, if you want to change the type of plan you have due to cost, or if you don’t have health insurance at all and need to get it!

Just like in past years, if you don’t have employer provided health insurance and you are over the age of 26, you cannot be on your parent’s plan anymore. But unlike in 2018, going forward from 2019 and onward, there will no longer be a penalty unless the state you reside in mandates a penalty for not having health insurance.

If you are not happy with your provider you can shop around for another during this Open Enrollment period, and if you want to change the type of plan you have you can do so during this time as well! If you have a specific doctor that you want to go to, but is not within your network, you can find which provider has them in-network and sign-up with them. Or if you just want to switch to try something else out you can as well, no problem!

There are exceptions to this Open Enrollment period, with life changing events you can insurance-1991276_960_720change your plan to better suit you. If you have a child, get married, or lose your coverage you can change or enroll in a different plan for 60 days following the event. But otherwise you will have from November 1st to December 15th, 2018 to make any changes—and remember any changes made during Open Enrollment start on January 1st, 2019, so get ready and plan accordingly!

Why Is Health Insurance Important?

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runners-635906_960_720Health insurance is a very important component of any person’s safety net. Without sufficient health insurance, you can find yourself in a rough situation medically, made worse by a giant medical bill out of left-field! And if you have children this becomes especially important since their health is of the upmost importance.

When I was a kid in kindergarten, I remember my whole class went to the nurse and we did a little check-up to make sure we were in good health. When I was doing the eye test, my school nurse found out I could not see out of my right eye, which was effectively blind (I remember thought I had X-Ray vision in my right eye since everything was blurry out of that eye when I was a kid!) and losing vision in my left.

When my mom got the call from the nurse to tell her I was going blind she was getting her PhD— and had absolutely no insurance. So, she dropped out of her PhD program and found a job that had a good health insurance plan so she could take me to a specialist, which she did and the specialist ended up saving my vision. Another kicker to this is we also found out my little brother had the same issues during my check-ups and ended up saving his vision as well!black-and-white-915782_960_720

With this memory of mine, I cannot stress how much it helped me at a very young age, and I am thankful that something like this exists— otherwise I might not be here typing this today. Do not let yourself go without or have insufficient coverage, because you will never regret having it when you truly need it.

HMO, PPO, and EPO. What Do They Mean?

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health-2082630_960_720You’re most likely looking at these acronyms thinking, “What.”, and wondering what do they all mean? Well, each of these acronyms are different types of health insurance plans that have different features, and it’s up to you to decide which one best suits you!

HMO stands for Health Maintenance Organization, and these types of plans usually have cheaper monthly premiums and lower cost-sharing than other types of plans, but this comes at a disadvantage since you must get primary care provider referrals to see a specialist (Known as PCP referrals) which means you have to get a referral from your regular doctor to see a specialist, and these plans usually won’t pay if you go outside their network of preferred doctors.

PPO stands for Preferred Provider Organization and are called this because they have a network of doctors that they “prefer” you to use— but you can still go to a doctor that is outside their network if you want. Due to this freedom in your choice of doctor, you will face a higher premium than an HMO or EPO in comparison, but some find this preferable to the other plans. A lot of times you would get this type of coverage through an employer, but it is possible to get it as an individual as well!

EPO stands for Exclusive Provider Organization, and these are somewhat of a hybrid of an HMO and a PPO. With an EPO you have to stay within an “exclusive” list of doctors to use, and if you use an out-of-network doctor you won’t be covered at all. But there is an upside to this type of plan, as you do not have to see a primary care physician to go to a specialist (But the specialist has to be in-network!), and you do save money in comparison to a PPO.

family-2073604_960_720When making your decision, just decide what you think is best for you and your family, and which features are most important to you—just take your pick!

What Will You Need When Applying for Health Insurance

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If you want to make the process of getting health insurance easier for you, then look no further! In this weekly installment I will give you a rundown on what information you should bring, this way you’ll save time and you won’t hate the process as much as other folks have in the past!

calendar-660670_960_720With Open Enrollment just around the corner on November 1st (Ends on December 15th!), it is important to get everything you will need ready so you can make it a quick and painless process. You will need the typical information such as your name, address, social security number, and birthdate— but you’ll also need all that information for anyone that will have coverage under your plan as well!

You’ll also have to bring employer and income information for everyone in your household— so W-2 forms and pay stubs would be good examples of what to have. You will also need to estimate the amount of income you anticipate for 2019 as well,  and you can use your pay statements and W-2s to figure this information out, kill two birds with one stone! obama-1301891_960_720

Another piece of information will need to bring would be your current health plan for you and any other plans that apply to anyone you are going to provide coverage for. So round up all of this information, put it into a manila folder, and show it to your insurance agent so you can get in and out quicker than you can say “Health Insurance”! (In reality it won’t be that quick, but you know what I mean!)