So now you’ve figured out your health insurance plan is not grandfathered. (If you’re not sure, read this).
You’ve also realized that the “compliant” plans beginning in 2014 are going to be a LOT more expensive.
Is there anything you can do?
Yes and no. At some point in 2014 you’re going to have to switch into the new plan structures and, unfortunately, pay those new prices. There’s just no way around it. But you can delay the requirement until well into 2014. Here’s how:
The name of the game here. Photo Credit: StockMonkeys.com via Compfight cc
- Many health insurance companies will allow you to keep your current plan until your usual renewal date in 2014. In other words, if your plan usually renews on April 1, you won’t have to move to a Obamacare compliant plan until April 1, 2014.
That’s true for both individual policies and group health insurance plans.
- Many insurance companies are allowing policy holders (especially small business clients) the opportunity to renew their plans early. For example, if you have the April 1 renewal date we mentioned earlier, you could renew early – bump up your renewal to December 1. That would give you 2013 pricing for another year.
Of course the other option would be to just start a new policy. This would obviously also make sense if you don’t currently have a health insurance plan. The rate increases are expected to be pretty drastic – especially for individual/family health insurance plans, so locking in a policy before 2014 will give you more time at 2013 pricing.
[button url=”http://www.easymedigap.com/quote/quotes.jsp”]Check out pricing on a new plan at 2013 prices while you still can![/button]
None of these options are perfect, but they will at least give you some more time at lower prices, and may give you more time to figure out how to navigate the Obamacare world of 2014. Of course we’ll be here to help with that.
If you’d like to discuss your options you are welcome to contact us. If you’d like to see some quotes on individual health insurance plans (at 2013 prices!), you can do so in a matter of minutes here.