Automatic Enrollment

Did you know that you’ll automatically enroll in the same plan unless you do something about it.

Here’s something I’d venture a guess you probably didn’t know: If you don’t opt out of your existing health plan or choose a different plan, you will be automatically enrolled in your existing insurance plan for another year.

If most Americans are anything like me (where they tend to let their bills be paid by auto-debit) it’s quite possible we could have a number of surprised auto-enrollees.

In addition to auto-enrollment, the premium you’ll pay is likely to change. Right now you’re probably thinking, “Tell me something I don’t know!” Well here’s that something: if you enrolled in the cheapest bronze plan you could find in your state last year there’s a really good chance that your plan is no longer the cheapest this year.

According to a recent study released by the Kaiser Family Foundation, out of the 16 locales it’s received complete premium data on (15 states plus Washington D.C.), 12 had a new lowest-priced plan for 2015. The reasoning behind these fluctuations likely has to do with the emergence of additional competition on the exchanges as well as having a number of first-time participants in the individual insurance market last year that have had to adjust their pricing for 2015.

The lesson here is that if you’re trying to pay close attention to your premium costs in 2015, you’ll need to be proactive about searching the exchange in your state for the best rates.

If you don’t like your plan, want to change your plan, just give us a call.