Did you get a letter from CoventryOne this week?
If you purchased a health insurance plan with CoventryOne before January 1, you’ve probably received a letter telling you that your plan was expiring and you’ll have to get a new one that is compliant with the Affordable Care Act.
Coventry will probably send subsequent communication recommending to switch you to the compliant plan that most closely matches your current plan.
Of course you could choose to accept that plan or we could help you explore other options.
How much time do you have to switch insurance plans?
You should be able to keep your current CoventryOne plan through the rest of 2014.
The Obamacare “open enrollment” period for 2015 plans does not begin until November, so there is nothing to really do presently. We do not yet even have prices on the 2015 plans from any of the insurance companies.
Will the Obamacare health insurance plans be more expensive?
Yes. The new policies will almost certainly be more expensive than the plan you have now.
Or no. Depending on your household size and income, you may be eligible for “premium tax credits” (subsidies) from the federal government to help you pay premiums. If you make between 100% and 400% of the federal poverty level, you may be eligible.
So what should you do?
If you have any questions or concerns you can contact us anytime.
If you want to get a head start on weighing your options for next year, contact us in late October or early November. We’ll find the best plan for you and walk you through the process.
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