September 2018 Updates
September 2018 Updates
Hello Friends,
School is back in session, traffic is back to its apex, it is hurricane season, fall sports are ramping up, and YIA is preparing for the upcoming open enrollment season. If you or a loved one is in the path of Hurricane Florence, our thoughts and prayers are with you. We are actively reaching out to our clients to make sure we have accurate information to be more efficient during our short open enrollment period. We look forward to speaking to you all and taking care of your friends and family.
Key Dates-
Medicare (Annual election period) AEP- Starting October 1st we can start talking you about 2018 plans and October 15th is when we are allowed to enroll you into to new Part D and Medicare Advantage plans.
Under 65 Open Enrollment- Starts Nov 1st and goes through December 15th.
Things you can do to prepare-
Most of you reading this are going to need to make some decisions in the next few months, for 2019 health insurance. Either Medicare, group, or under 65 medical insurance. What are some things you can start doing to prepare?
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Medicare- Get a list of current medications together. We will be reaching out to make sure we update your prescription list to optimize your Rx plan for next year. This is one of the many ways we are trying to add value to you all in guidance with Medicare. We will get 2019 plan information the first week of October.
Group Health Insurance- Renewals usually come out 60 days in advance of renewal and sometimes sooner. We need to make sure we have an updated census of who is eligible for the plan and who may need to make changes. The job market is tight right now, and it is a job seekers market. One of the best things you can do is to have a benefits package to lure job candidates and keep current employees happy. Let us know if you need assistance.
Under 65 Affordable Care Act (ACA) There has been a lot going on in Washington regarding the ACA. The feds are trying to say that the law is unconstitutional now that there is no penalty for not having insurance next year. Even though the current administration is not fully supporting the ACA in the background they are helping the systems that keep the system running. I can’t even pretend to know what is going to happen, but my money is on a market that looks similar to this years with an additional 20% in premium unless you receive a subsidy. Subsidy eligible members should not see an increase in premiums as the price you pay including a subsidy is tied to a percentage of income.
Under 65 NON-ACA compliant- There are many alternatives to the ACA in the individual market short-term, indemnity, faith-based plans, association plans*, etc.... That being said we as an agency have always been very conservative in making recommendations on the latest new thing in the health insurance market. With all of the new schemes in the market, we have to be very careful with non-compliant plans. They may make sense for you if you are healthy without pre-existing conditions. It is fine if you understand the trade offs. If you are healthy schedule an appointment to see if we can save you some money.
On a personal note- I am overwhelmed by the responses I have received from sharing my own story about my father's passing. I promise not to keep the focus on such negative circumstances, but the response was one of the biggest we have ever had. We really are in an epidemic globally. Suicide is on the rise almost everywhere in the world. It is strange as the world is more connected in one sense with the rise of social media and the world wide web. On the other hand, more and more people are living in isolation not really connecting with anyone, living in quiet desperation. I don't pretend to have a solution other than trying to reach out if you recognize someone in despair. Someone paying a little bit of attention or a simple act of kindness can really make a difference in someone's life. Take care my friends.
Thank you for reading and as always thank you for allowing us to be your Insurance Advocates!