Health insurance is something everyone needs, but it may be difficult to afford. COVID-19 has made it difficult to not only afford coverage but to also find a policy you can rely on to provide the coverage you need. Talking with a reputable insurance agent will make both tasks much easier to help identify your needs and explore your options.
Extended Enrollment
One of the biggest changes related to health insurance during COVID-19 has to do with the enrollment period. Open enrollment is now available until the 15th of August. In the past, once open enrollment was over, you were no longer allowed to purchase coverage. With the open enrollment extension, more and more people can now purchase the insurance they need when they need it.
More Benefits with Marketplace Plans
Health insurance policies are being offered through the marketplace that offer much lower premiums as well as a dramatic increase in benefits. For many, premiums may be cut by half while they are able to enjoy benefits that are much more substantial than in the past.
No-Cost Health Insurance for People Who Get Unemployment Benefits
Individuals who depend on unemployment benefits can barely afford living expenses, let alone a quality health insurance policy. Policies are now being offered that would provide health insurance free of charge to individuals who are receiving unemployment benefits.
You No Longer Have to Pay Back Additional Subsidies
Anyone who ended up earning more than they expected will no longer have to repay the additional subsidies they received when they first signed up. Estimating your income can be tricky, especially if you are self-employed. When it is time to file taxes, many people are surprised to find that their numbers do not tally with their estimates. In the past, the extra subsidies that were received had to be paid back. However, this is no longer the case as you can keep the additional subsidies without having to pay them back.
If you want to learn more about the latest health insurance policies available in the marketplace, contact our experts at Steve Wilk Insurance Agency. You can also visit our office at 310 S Main Street, Suite C, Lombard IL 60148.