WHY IS HEALTHCARE OPEN ENROLLMENT SO CONFUSING

Open enrollment for health insurance benefits is such a confusing time for consumers. Please reach out to our Brigade Bookkeeping team if you find yourself with questions and we’ll try to point you in the right direction.

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December 10th, 2017
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Decisions, decisions! Are you a small business owner offering your employees health insurance? Are you self-employed and trying to find the right coverage or looking to choose a plan under the Affordable Care Act? Now is the time of year when open enrollment for health insurance is taking place, but this year, with the push to repeal Obamacare, there’s more confusion than ever.

This year, there are a lot of insurance companies leaving the healthcare exchange and less people called “navigators” helping consumers understand the system.  Plus there are other things to consider when choosing your health insurance this year:

  • LESS CHOICES – The Department of Health and Human Services says that premiums for the Affordable Care Act’s plans are up 37 percent nationwide. Last year, that number was 24 percent. Higher premiums have forced companies, like Humana, to leave the marketplace. This means consumers have fewer choices. Your best bet is to speak to your company’s Human Resources representative or an independent health insurance broker.
  • SUBSIDIES IN JEOPARDY – President Trump and some Republicans are pushing to get rid of the Affordable Care Act. There have not been enough votes to repeal the act in Congress. However, the President has announced plans to cut off subsidies to reimburse insurance companies. This means low income consumers and small business owners might not get financial help this year.
  • SPEAK TO A PROFESSIONAL – When in doubt, my best advice is to speak to a professional. There are many health insurance brokers out there. They are busy, but always looking for business, so don’t hesitate to reach out.

Open enrollment for health insurance benefits is such a confusing time for consumers. Please reach out to our Brigade Bookkeeping team if you find yourself with questions and we’ll try to point you in the right direction.

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