The pandemic has changed so much of American life this year. These days many of us are worried about our expenses and job security. For those still facing layoffs and furloughs, the concerns only deepen. One thing that many Americans are struggling with this year is finding affordable insurance. For example, gone are the 15% refunds auto insurers issued early this year on policies. Health insurance is particularly troubling for some right now because ACA (Affordable Care Act) plans can be very expensive. If you find yourself getting sick to your stomach shopping ACA plans, we’d like to introduce you to an affordable alternative. It will stop the worries about CO health insurance in 2021 so you can focus on more pressing issues. Let’s take a closer look at private Colorado health insurance.
ACA Requirements Have Changed
First and foremost, when you shop for CO health insurance in 2021, you don’t have to worry about penalties if you don’t have ACA coverage. That’s right, the Individual Coverage Mandate and Shared Responsibility Payments (tax penalties) have been eliminated. Even if you choose not to carry health insurance (which we don’t recommend), you won’t face any penalties. This leaves you free to find the best health coverage for your needs. Now you can find better options for you and your family if you’re healthy. In fact, a private health plan can save you upwards of 50% compared to the pricey ACA plans. And this is certainly not a time where you can go without health coverage.
CO Health Insurance In 2021 Will Be Important
Although we all hope for a speedy end to the pandemic in 2021, there is no sign that it will stop anytime soon. Your health and wellbeing is at risk more during the pandemic. If you have to be admitted to a hospital for COVID-19, you are responsible for any costs incurred during treatment. There is also no guarantee that a vaccine will be free to everyone when it becomes available. All this means you need reliable health insurance if you have to be treated long term for COVID. Even if your finances are tight going into 2021, health insurance is absolutely one cost you cannot go without.
In Private Health Plans, Open Enrollment Doesn’t Matter
Another misconception about shopping for CO health insurance in 2021 has to do with open enrollment. Many believe they can only shop and join new health plans during the end of the year. In Colorado, open enrollment runs through November 1st to January 15, 2021. But again if you’re not shopping for ACA coverage, these dates are less important for you. Private health insurance can be obtained at any time of the year. Often private plans don’t even follow the typical yearly schedule of ACA plans, which gives you longer coverage periods and less stress at the end of the year.
Beware Out Of Network Costs
While we’re all traveling far less or not at all this year, there is still a danger many face with ACA plans. Since ACA coverage is regionalized and you shop on your state’s ACA marketplace, out of market costs can loom large if you need to seek treatment away from home. For example, what if you have to travel to care for a loved one this coming year? Should you become sick during your trip, the ACA plan you have may fail to cover the majority or even all of your medical bills because you’re “out of their network.” This could be devastating at a time when finances are already tight. Private health plans are not subject to this unfair regional “red tape.” Instead they rely on national PPOs or Preferred Provider Organizations. A national PPO allows you to find an in-network doctor or hospital wherever you travel in the US. You won’t be subject to out of network restrictions, which will make it far less stressful to travel should you need to in 2021.
CO Health Insurance In 2021 – Discover What’s Right For You
Perhaps the worst part of shopping for an ACA plan is the lack of support. ACA healthcare websites expect you to find the right coverage with a few clicks on a website. But what if you end up paying for coverage you don’t need? Or how can you tell if your long time doctor will be included in your new coverage? You don’t have to go it alone when you shop a Colorado private health insurance plan. You’ll work with a state-licensed insurance broker who lives and works in Colorado just like you. Better yet, they’re available to talk through any questions and concerns so you know you’re getting the coverage that is right for you. As we mentioned before, your new private coverage could be up to 50% less than an ACA plan. That could make a huge difference in an uncertain 2021.
To learn more and to obtain a risk free quote, visit our Colorado Health Insurance page today.