During a time when access to health care is more vital than ever amid the COVID-19 pandemic and the upcoming flu season, a staggering number of Americans are still living without health insurance. In fact, the rate of uninsured people went up in 2018, jumping from 7.9% to 8.5% (or 27.5 million) according to a recent report from the Census Bureau.
Not to state the obvious, but those numbers aren't great. Aside from the fact that not having health insurance reduces your access to affordable health care, it also creates a domino effect that can impact your overall health since uninsured people tend to not seek out health care. Not to mention, a lack of insurance also puts you at risk for overwhelming medical debt, since going to the hospital uninsured means you can expect to pay two to four times more than those with insurance, according to data from the Kaiser Family Foundation regarding medical billing.
With open enrollment periods for health insurance beginning to kick off, now's the time to look into your own health insurance options. To help get you started, Inverse joined forces with Florida Blue to teach you how to take full advantage of the oft-mystifying open enrollment period and come out on the other side with the knowledge, confidence, and of course the health care you need. Here's what you need to know.
Pay attention to the dates
Open enrollment doesn't last forever, which is why it's crucial to take note of the start and end dates. This year, open enrollment kicks off on October 1 and continues until December 15, so mark that on your calendar as the last day you can enroll in a health plan if you want 2021 coverage (unless you qualify for a special enrollment period).
Choose a plan that works for you
While this can feel easier said than done, many insurers make this part of the process easier by making it simple to learn the must-know info. For example, Florida Blue plans are broken out into four categories — Bronze, Silver, Gold, and Platinum. No matter which one you choose, you'll be covered for the same essential health benefits, like virtual access to providers 24/7 and affordable screenings for preventive conditions.
The difference in plans has to do with how the costs of eventual health care services will be divided up between the insurer (Florida Blue) and the insured (you). For instance, Platinum plans tend to have higher premiums (the amount you pay for coverage every month) but lower deductibles (what you pay for services before your insurance kicks in), while Bronze plans have lower premiums and higher deductibles.
Additionally, plans can be divided into two categories — HMOs and PPOs. With HMOs, you have one primary care physician who coordinates all of your care including giving you a referral. PPOs give you more flexibility, allowing you to go to any provider without a referral.
Make sure to consider both your financial situation and your current health needs when choosing the right plan for you.
Don't be deterred by potential out-of-pocket costs
Even with the best health insurance plans out there, you'll likely end up paying some money out of pocket between monthly premiums and medical appointment copays — but don't let that stop you from enrolling. If you qualify, the government may provide financial assistance to help pay for part of any plan. For example, Florida Blue offers Bronze, Silver, and Gold plans. If you decide to upgrade from the Bronze to Silver plan with a higher premium, it could mean reduced out-of-pocket costs for doctor's visits (if you're eligible for a subsidy).
Check out Florida Blue's Health Care Tax Credit Estimator tool to learn if you're eligible. Using info like your income, family size, and where you live, the tool will determine if and how much financial help you'll be entitled to, so there'll be no surprises when those bills do arrive. In some cases the tax credit may cover your whole premium.
When in doubt, don't be afraid to ask questions
Florida Blue knows that health insurance is complicated, and they're here to help. Reach out to talk one-on-one with an expert who can break down the different plan options and provide the necessary support as you navigate the waters of purchasing health insurance.
Ready to take advantage of this year's open enrollment period? Start by contacting Florida Blue to get the quality health care you deserve.
This advertising content was produced in collaboration between BDG Studios and our sponsor, without involvement from Inverse's editorial staff. Learn more here.
Florida Blue is a trade name of Blue Cross and Blue Shield of Florida, Inc., an Independent Licensee of the Blue Cross and Blue Shield Association.These policies have limitations and exclusions. The amount of benefits provided depends on the plans selected and the premium may vary with the amount of benefits selected.
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