Shopping around for health insurance

Dec 14, 2016 | Health Insurance Billing

In 2017, major shifts are expected in health care insurance ideologies among leadership in both the White House and Congress. As a result, the Affordable Care Act could be in jeopardy of being significantly altered if not repealed and replaced entirely. 

The potential for changes to health insurance on a national scale gives patients a unique opportunity to reassess their care needs and pick an appropriate plan. It's highly unlikely that drastic alterations will be made overnight. In fact, big changes will probably take years to enact and reach the marketplace. Take advantage of the transitional period and pick out an insurance plan that's perfect for you and your family.

It's better to get covered before you have an issue
Unless you can see into the future, you have no way of knowing when you'll get sick or experience some other type of health problem. If you fall off a ladder and break your arm, you'll have no choice but to go see a physician. Without health insurance, fixing a broken arm could cost as much as $3,000, according to The Law Dictionary – and that's for an injury that doesn't require surgery to fix!

"Take advantage of Open Enrollment."

Instead of living in fear of having to see a medical professional, take advantage of the Open Enrollment Period this year and sign up for an insurance policy. This period of time allows people who aren't enrolled in any health care plan to do so without penalty or alter their existing plans. The current Open Enrollment Period goes through Jan. 31, 2017.

Don't be afraid to change your existing plan
Even if you already have insurance, it doesn't mean you shouldn't take advantage of the Open Enrollment Period. The Department of Health and Human Services maintains that roughly 40 percent of people utilized the 2016 Open Enrollment Period to alter their existing plans. These individuals saved roughly $500 annually in health insurance, or about $42 per month.

If you're not already adjusting your health insurance to keep up with your life circumstances, make that your New Year's resolution for 2017. From changes in your personal life – such as getting married or having kids – to new legislature passed by the state or federal government, it can be in your best interest to change your insurance policy.