If you don’t get health insurance through an employer, Medicare or Medicaid, November 1 is the start of the seventh (!) Obamacare Open Enrollment Period, when you can sign up for coverage without regard to preexisting conditions. Insurers in that market must accept all applicants.
In that context, we’ve been reviewing 2020 premiums just recently posted on line at the Healthcare.gov website.
In general, rates have come down a bit, indicating even without a tax penalty for not having coverage, premiums have caught up with claims.
Despite that, there are few if any new insurers entering this market. You can review who is selling coverage by county at this OCI website.
Even if you get coverage through an employer, check out the rates on the Marketplace. Go ahead. Enter your age and zip code. What do you think?
Depending on age, are the rates significantly different? They are if your employer pays (on average) 70% of the total. They aren’t if you qualify for Obamacare tax credits.
And then I ask myself which of my group clients wouldn’t be happy with a 2020 premium decrease!
