ATTENTION: Carriers Are Not Renewing Clients!

This year has seen several carriers dropping out of the marketplace or choosing not to offer qualified, Obamacare plans. As a result, many people have lost coverage. United Healthcare, for instance, chose not to renew several clients. Additionally, both Aetna and Cigna have not renewed much of their client base. Humana non-renewed clients as well. To simplify, a non-renewed plan means that coverage ended December 31, 2016. Ideally, those with non-renewed plans replaced their coverage immediately. If not, then individuals without coverage need to contact their local agent as soon as possible. For more information, watch the video below of Jeff Hess, the individual health expert. He has important news for Humana clients in Texas, as well as some advice for those whose plan is non-renewed.

Humana Is Not Renewing Clients in Texas after June.

Recent news just came out last week. Humana One is dropping all clients that are covered under the Affordable Care Act (ACA) in the state of Texas. They’ve sent out letters to client that still has a plan through them. In the letter, Humana announces that at the end of June – so on July 1st – clients will no longer have coverage. Since this means clients involuntarily lost coverage, they will be given a special enrollment period (SEP) so that they can get a new policy. Therefore, if you have a Humana plan in effect now, then you need to be checking your mail for the non-renewal notice.

Don’t Wait. Act Now!

You have two options with regards to the Humana non-renewal. First, you can wait and keep your Humana coverage until July 1st when it deactivates. With this option, you will be allotted a SEP to replace your plan. However, it’s advised to look for a new plan now during the open enrollment period (OEP). So rather than wait for a SEP, you should shop now in case something happens between now and July 1st and you meet your deductible, which could be as high as $14,300 for a family. If you meet the deductible for the plan that ends, you will have to meet the new deductible for the new plan and new carrier. Thus, it’s prudent to switch your plan during OEP instead of waiting and doubling your out-of-pocket expenses.

Moreover, the plans on the market during OEP may not be available in July, meaning you’ll have fewer options during the SEP. Instead of three or four qualified plan options, you may only have one. With only one option, you may not get the coverage that you need. So contact your agent today to get the right plan for you!

Open Enrollment Deadlines

As a reminder, the next OEP deadline is January 15th, which means the plan will go into effect February 1st. If you miss this deadline, then you have to enroll between January 16th and January 31st to get a March 1st effective date.

Since insurance is oftentimes overwhelmingly confusing, we want to shed light on this industry by answering YOUR questions.  So if you have any questions or concerns, comment below and your question may be the topic of our next video!

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