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Balanced Healthcare
It's Time to Consider Healthcare Changes
SUBMITTED BY BALANCED HEALTHCARE SOLUTIONS INC.
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Open enrollment for individual health insurance and Medicare is upon us. The annual enrollment period for Medicare is Oct. 15-Dec. 7, for an effective date of Jan. 1, 2022, with plan changes and new plan coverage.
There are individual ACA changes and considerations for the remainder of 2021 and 2022. As of 2021, there are six insurers that offer ACA plans in Georgia: 1. Alliant 2. Ambetter from Peach State Health Plan (Centene) 3. Anthem/Blue Cross Blue Shield of Georgia 4. CareSource 5. Kaiser 6. Oscar Five additional insurers plan to join them for 2022: 1. Aetna/CVS 2. Bright Health 3. Cigna 4. Friday Health Plans 5. United Healthcare More carriers means more plan options, and, hopefully, lower rates. There also are considerations for 2022 individual ACA open enrollment: • Plan to compare your coverage options during open enrollment. • Check your current doctors in the plan networks, because networks can change at any time during the year. • Know that off-exchange options also are available if you do not qualify for a premium subsidy. Off-exchange plans have lower premiums and lower out-of-pocket maximum amounts. • Consider an individual coverage health reimbursement arrangement (ICHRA) plan if you are a business owner.
ICHRA (pronounced “ick-rah”) plans are game changers for employers looking to provide health benefits for their employees. It’s a new model of employer-sponsored health insurance.
ICHRA has several advantages over traditional group plans. For example, employers have greater ability to control costs, and there are no minimum participation requirements. There is no annual renewal with high-risk increases, and employees are given a large selection of carriers and plans, as well as plan portability, should they leave the employer.
Whether you are seeking individual coverage for yourself, or you are a business owner trying to find the best health care option for your employees, consider using an agent or broker. They can save you time and money.
