3 Important Things to Know About Open Enrollment
If you’re looking for an opportunity to get a healthcare plan through the state of Minnesota’s health insurance marketplace (MNsure) – especially if your current plan isn’t a good fit for you anymore, then Open Enrollment is your window for action!
What is Open Enrollment?
The Open Enrollment period (OEP) refers to the annual opportunity during which you can sign up for different major medical health insurance plans or Affordable Care Act (ACA)-compliant health insurance policies. Not only can you enroll in health insurance during this time, but you can also modify or even change your current plan.
The Open Enrollment Period in Minnesota is November 1, 2022, through January 15, 2023. You’ll need to enroll by December 15 to have coverage starting on January 1, 2023. Enroll by January 15 to have coverage start on February 1, 2023.
Important Things To Know About Open Enrollment
Open Enrollment is the perfect time to review your benefits and make any changes that will better suit your needs if you already have a plan or get the ideal one if this is the first time you’ll be getting insurance.
Here are some things to consider:
How have your needs changed this year?
If you are in your early 20s, for instance, you might be covered by your parent's health insurance. However, if you're older than 26, you definitely have to get your own coverage. This is where Open Enrollment comes in. This is the most convenient time to get your own healthcare plan.
Dental Insurance is also another thing that you may need. When we’re single, premiums are usually close to the amount that it will cover. However, things change after you have kids. Including them in your insurance works because you'll probably receive more value out of dental insurance.
Additionally, if your needs have changed, you might want to start using the flexible spending account for childcare or medical expenses.
Changes In the Plans
You should check plans being offered through MNsure when you receive your open enrollment notices for any changes. Pay particular attention to variations in the coinsurance and copayment values in addition to the plan premiums. A different deductible amount is also another thing you will want to check.
A high-deductible plan (Bronze), for instance, can be a cost-effective choice if you are healthy, single, and especially if you rarely visit the doctor. However, you can save money by selecting the Silver or Gold options if you are someone who has a medical condition and frequent doctor visits. To determine which plan is appropriate for your circumstances, you will have to review pricings and benefits offered by the various plan options.
Changes In the Providers
You should also think about whether providers covered by your health plan changed. It is possible that your current doctor or dentist might no longer be covered by your current health plan and you may need to shop for other plans available on MNsure.
Additionally, the way you can file for claims or coverage might have changed as well. Pre-approval may be required for some benefits that weren't before. For some operations, you might also need to submit your claims on your own (this is sometimes applicable to dental and vision insurance).
The Open Enrollment Period might sound complicated, but as with everything, preparation is key. Reach out to one of our MNsure Certified Navigators today to schedule an in-person visit or phone call. We are here to assist you!