The ColoHealth Health Wealth Newsletter
October 2019
Vol. 9, Issue 10

Open Enrollment is Almost Here

How to prepare for OE if you’re thinking about updating your coverage this November

It’s that time of year again. The leaves are changing, the air is becoming crisp, and we are getting closer and closer to the annual Open Enrollment (OE) period. Commencing on November 1st and running through December 15th, this is the only time of year that ColoHealth will have the opportunity to sign up for or modify their health insurance plan.

Making an appointment with your Personal Benefits Manager is the best way to make sure you’re ready for OE. However, if you’re happy with the plan that you have, there is probably no need to lift a finger during OE. Unless you’ve received a termination notice from the carrier, your plan will just continue into next year, and include whatever rate adjustments might apply.

Pay Attention to What is Happening with your Current Policy

The thing about health insurance prices is that they are changing all the time. If you currently have health insurance your carrier is required to inform you of next year’s rates by now. They should also let you know of changes to the plan, including changes in the doctor network.

Reasons to Change Insurance Plans

Taking advantage of Open Enrollment is ideal for people who:

• Have seen their rates go up over the last year
• Are no longer happy with their coverage or their doctor network
• Want to switch to a health care sharing program
• Want to switch from a health care sharing program to a health insurance plan

Remember, Open Enrollment starts on November 1st. While we will not have access to the new health insurance rates until OE begins, if you want to talk it is a good idea to schedule an appointment with your PBM today. Once OE hits, they are going to be all booked up!

To your health and wealth,

Wiley P. Long, III
President – Colohealth

The Colohealth Health & Wealth Newsletter is published monthly and emailed to subscribers at no charge. Subscribe now to stay on top of the critical information you need to know about health insurance, healthshare plans and managing your finances to achieve financial security.