The time is here! Be on the lookout for new options, such as new carriers or new plans offered in your area. Now is the time to go over your insurance coverage and make any changes if necessary, to ensure the plans you have are still the best fit going into next year.
On November 1st, 2021 the Marketplace Open Enrollment period begins, and will continue through until January 15th, 2022, as extended by the American Rescues Act. That said, please be aware that if you need your insurance coverage to begin on January 1st, 2022, then you will need to have your enrollment completed no later than December 15th, 2021. If you enroll between December 15th of this year and January 15th of next year, then expect your insurance coverage not to start until February 1st, 2022.
The income limit for eligibility to receive a tax credit from the Federal Government to supplement your monthly premium has been increased. This means you can now make more money, whether you are an individual or a family, and still be eligible for assistance with your monthly premium, even if you previously were not eligible. Be sure to discuss this with your broker so you can determine the exact amount of eligible premium tax credit.
New to the Marketplace
There are some new additions to the Marketplace for 2022, including new carrier and PPO plan options! This is exciting news as Arizona hasn’t had Marketplace PPO options for a while. With the subsidies increased you may prefer a different plan as affordability may change!
Review Your Plans For Free
Reviewing your plans with a licensed insurance broker is a wonderful idea, as they are free for you to work with. They are paid directly from the insurance company for the enrollments they do on the insurance company’s behalf. Brokers are typically able to help you analyze various plans offered by different carriers, as brokers are contracted with most major carriers, unlike captive agents who can only offer you plans by the company they work for.
Group Plans Inc can assist you with your insurance needs and concerns, as well as remain a point of contact throughout the year between you and your insurance company. Give us a call today at (623) 889-7600 to set up a phone call appointment for your free plan review or for assistance in enrolling for 2022 coverage!