Buyer’s Remorse: It’s Never Too Late to Change Your Health Plan!

The Problem

Jim is in serious trouble (and not because he forgot his wedding anniversary again—his wife already let that one go). He waited until Dec. 3 to start looking at health plans online, which left him scrambling to pick something before the open enrollment period ended. Now he is faced with regret, realizing that not only did he pay too much, but the doctor whom he has trusted for the past 20 years is no longer in network.

He’s stuck until 2027.

Or is he?

The Truth

There are many options available to Jim…and you. Much of the general public is mystified by health plans. So many misconceptions about the program exist that they can make anyone’s head swim. Here are just a few:

• You can only alter your plan during the open enrollment period. This is 100% not You can still enroll in any plan, at any time of year.
• After purchasing your plan through the marketplace, you lost tax credit. Now you’re stuck paying a $1,000 premium, rather than the $300 one that you signed up for. The truth is that many other solid options (of which you’re likely unaware) include major medical coverage. Switching plans can save you a significant amount of money.
• Your doctor went out of network, so you need to start over with a stranger who is accepting new patients. Absolutely not! You don’t need to change your health care provider. You need to find a health care plan that accepts your provider and fits your needs.
• Your employer got you into an undesirable plan that you can’t get out of. Many employers (especially those with smaller businesses) do not realize that they can take their whole group to a different plan. And if you are self-employed and/or -insured, you always have the ability to choose where you want to go.

The Solution

While you are able to make changes on your own, licensed insurance brokers understand that the everyday person can’t possibly comprehend the intricacies of the system. They have the resources to review all of the carrier and network options available to you, curate them and provide expert opinions on what each carrier can offer; and many people don’t realize that there is no charge for these services.

Brokers specialize in finding health care plans tailored to each individual. Whether through the private sector, groups or other means, there are many ways to move people into the optimal plan for them…no matter what the calendar says.

Jim has made an appointment to review his benefits with his broker. He can sleep well tonight, knowing his flub will be fixed by his broker tomorrow.

If you need personalized, expert assistance reviewing your health plan coverage, visit coveredbystephanie.com or call 937-619-9939.