The “second annual” open enrollment for the Affordable Care Act (aka Obamacare) begins on November 15th. You should really consider using an Insurance Broker for this process. It does not cost any more to use a broker! While the Government provides a “Navigator” to assist you with the enrollment process, and also will not cost you additional money, many lack the experience and have not been in the business long and could put your family at risk at the time of claim. I am not saying that “Navigators” are bad, I am saying that many insurance brokers have been in the business for decades and have much more experience especially in a local market. Insurance brokers must be licensed and insured in the States they conduct business, they must complete continuing education (yearly or depending on the state every two years) as well as security and ethical conduct requirements.
Consumers need to realize that the lowest cost plan, might not be the best plan for their family. What if your doctor does not participate in that companies plan? A Preferred Provider Organization (PPO) allows you to use and doctor or hospital you want to, but going out of network could double your financial exposure. If the hospital you would likely use in not in the network, it could cost you thousands of additional dollars.
A good broker can not only assist you in finding the correct plan, they can help to see if you will qualify for an advanced tax credit on the policy to assist you paying for the insurance. Since the cost of insurance is the same either way, why not get some quality advice along the way.
Thanks for reading! Eric Wilson is President of I Sell Health, Inc. A Chicago based insurance agency. He can be reached at 888-448-5370 or online at www.isellhealth.com