Healthcare Plans
It's that time of year when you can sign up for a new health insurance plan or change your existing plan. It's important to choose a plan that meets your needs and budget.
1) Assess your needs: Consider your current health status, anticipated healthcare needs, and budget. This will help you narrow down your options.
2) Consider the cost: Be sure to compare the monthly premiums, deductibles, copays, and out-of-pocket maximums for each plan.
3) Check the network: Make sure your preferred doctors and hospitals are in the plan's network. If you see out-of-network providers, you may have to pay higher fees.
At Axis Capital, we help families navigate their health insurance options. This is especially important if you have had a major life event, such as marriage, divorce, or the birth of a child.
1) Marriage: If you get married, you can add your spouse to your existing health insurance plan or switch to your spouse's plan, if they have one. You can also enroll in a new plan together.
2) Divorce: If you divorce, you can keep your existing health insurance plan or enroll in a new plan. If you are leaving your spouse's healthcare plan, check the market for new coverage options & costs.
3) Birth of a child: If you have a new baby, you can add them to your existing health insurance plan. You may also be eligible for a special enrollment period to enroll in a new plan.
If you're facing a major life event, it's important to contact your health insurance company to discuss your options. Having an advisor who helps with these decisions can make the process less stressful as well.
