30 Second Insurance Tips©

Tip #289- Why Would You Wait?

We’ve noted in a recent Tip the arrival of the Medicare Annual Election Period (AEP) which started October 15th and runs through December 7th.
Then last week, we wrote about the arrival of the “Obamacare” Open Enrollment Period (OEP). For individuals under age 65 who want to buy or make changes to their coverage for January 1st, their window of opportunity runs from November 1st through December 15th.
Regular Tip readers may recall that many small businesses – navigating around full ACA compliance using “transitional relief” rules – are renewing their health plans December 1st.
And then there are large employers; traditionally their renewals are January 1. Employee open enrollments usually end around this time, too.
My point?
Insurers processing all this business will be hard pressed to keep up. Think of all the new ID cards that must be sent out! Would you like yours to arrive in a timely fashion? Then make your elections ASAP. (“Elections?” Now why would that word come to mind?!)
Hint: working with an agent might help.