It’s that time of the year again when you can purchase a new insurance plan, make changes with your current policy, or cancel it in favor of a better one. To be exact, November 1st is a date to remember if you’re shopping for plans, as it’s when the open enrollment period officially kicks off.
Open enrollment is when individuals have to think about getting the most out of their healthcare plans. And, at the end of the day, we all know that having robust insurance coverage is beneficial. As such, people have to be decisive when weighing their options for individual health insurance in Sioux Falls.
So, what can you do to make sure you’re getting the best benefits? Refer to these four tips below.
Review Your Plan Options
Even if you’re happy with your current plan, looking at your other options is still highly recommended. In some cases, changing plans can actually save you money, as there can be packages similar to yours at a lower price.
It’s important to remember that your individual health insurance in Sioux Falls is a safety net for unexpected circumstances. In that respect, you will want to get upgrades every time you get the chance.
But, if you ultimately decide to stick with your current policy, make sure that your carrier isn’t raising costs. This way, you can avoid paying more than you intended.
Compare Yearly Costs
People can get fixated on monthly premiums when comparing health insurance policies in Sioux Falls. However, it’s also important to pay attention to other costs, such as deductibles and co-payments.
To evaluate yearly costs, you may use a tool available on HealthCare.gov. This will help you decide, as you’ll be able to see the estimated annual cost of a plan rather than just the monthly price.
Take Advantage of Special Offers
Insurance carriers offer discounts and special offers from time to time. You must do your research so that you may take advantage of these deals when they become available.
For instance, Avera Health Plans is offering a 12% household discount for new Plan G members in both South Dakota and Iowa. An individual must be married to, in a civil union relationship with, or have resided for 12 months with an individual aged 60 or older to qualify for the promo. The discount will last from October 1, 2020 to January 15, 2021.
Ask Help From the Pros
You can reach out to reputable insurance companies like Midwest Employee Benefits for guidance during the open enrollment period. That way, you can get help finding the health insurance plans that suit your specific needs. Don’t hesitate to contact us today!