What is Open Enrollment for Health Insurance?

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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 Happens During 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.

Let Deland, Gibson Help You!

We 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.

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.

Providing Peace of Mind Through Proactive Service

Deland, Gibson: a Trusted Choice, Five Star Accredited independent insurance agency. Established in Massachusetts in 1900, Deland, Gibson is a 4th generation family-run insurance agency that has thrived working as a trusted advisor for its client base. We work with individuals and businesses to lower their Total Cost of Risk. We analyze a client’s direct and indirect costs and implement risk reduction plans to address areas of business, hazard, or strategic risk.

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