What is Open Enrollment for Health Insurance?

Small Business Insurance Requirements
September 17, 2018
Directors & Officers Insurance Policies
December 12, 2018

Multiple health insurance sources have open enrollment periods, such as Medicare, job-based insurers, and individual market health insurance companies. Open enrollment for Medicare is October 15 through December 7 each year. However, job-based open enrollment periods will vary according to how the employer sets them. The individual market has set the 2018 open enrollment period, as well as future timeframes, for November 1 through December 15 and plans will take effect January 1 of the coming year and remain in effect for the entire year.

What is Open Enrollment?

During open enrollment, in addition to signing up for benefits, you may be eligible to set up a flexible spending account or a health savings account. Adding or adjusting the amount of life insurance you have or adding vision and dental insurance coverage are other changes that can be made.

Qualifying life events will allow an exception for enrollment outside of the enrollment period. This could include loss of job, having a baby, a move in residence, a marriage or divorce, loss of a spouse, aging off a parent’s plan, or expiration of COBRA insurance. Life events that are a result of you simply not paying your premium or voluntary cancellation of prior coverage are not eligible for the special enrollment period. In the individual market, the events that qualify as a life event are similar to those for employer-sponsored plans, but they are not identical.

Palatka Health Insurance Experts

Bates Hewett & Floyd can help you with your health insurance coverage during open enrollment. We provide health insurance for families, individuals, and employers. Professionals are available to take a look at your current benefits and evaluate what changes may need to be made. We want to make sure that you are receiving the best health care coverage plan available, and we are here to help you consider your options and answer any questions.

We allow businesses an opportunity to provide their employees with health insurance that can benefit their lives, and in turn, create a prospering workforce. We know that when employers help meet the healthcare needs of their employees, there are many benefits to be gained. Productivity, attendance, and motivation are greatly affected in a positive manner.

Customization

Contact us today. We can customize a plan that meets your exact needs. If you already have a plan, we can assess it to determine if it needs to be changed or updates. We review each plan yearly to ensure coverage remains adequate and relevant.


Bates Hewett & Floyd

When you think about an independent insurance agency in Northeast Florida, you probably think of a small to medium size office run by a family or a few employees. If you have never visited or been inside Bates Hewett & Floyd, you have not experienced the big picture. With 30 employed professionals (currently seeking additional candidates to join the team) we are one big family (some blood, most not) that spans three offices and are spread throughout the many facets of insurance that Bates Hewett & Floyd.

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