Health insurance is something everyone needs, but things change every year and can leave you wondering what happened. Knowing what’s going on in health insurance can help you save time and money when evaluating plans that meet your needs and budget. As we continue recovering from the pandemic, it’s important to understand how you can be affected. Here are a few things to know about health insurance in 2021:
Everything isn’t covered
Just in case you didn’t know, health insurance was designed to share costs with you to help you save money. If you have a policy that covers everything, chances are you’re paying a high premium.
There’s an extended open enrollment period
Due to the pandemic, there is a special enrollment period that began February 15, 2021, and continues through August 15, 2021. This helps individuals who are uninsured or under-insured or those who have coverage and want to change their plan. This extended period is eligible in 36 states.
You need certain information to enroll
In most cases, you’ll be asked for your name, address, email, social security number, citizenship status, and birthday. You’ll also be asked for your household size and income unless you’re getting a policy under your employer. You’ll also be asked for your doctors’ names and zip codes to make sure they are part of your health insurance coverage.
Coverage dates may vary
If you signed up for health insurance during the ordinary enrollment period in 2020, your coverage should have taken effect on January 1, 2020. If you enrolled in a state where the open enrollment period goes through January, you may have a February or March date. If you enrolled for the special enrollment period, the coverage effective date will be based on where you live.
Make sure you know what type of coverage and out-of-pocket costs you may incur to ensure you budget properly. For more information, contact an agent today.