Open Enrollment is almost over and if you are having trouble deciding on a plan Cosmo is here to help you.
Cosmo Insurance Agency partners with Oscar, a carrier that mixes technology and healthcare to provide you with easier access.
So the main question is, which Oscar plan is best for you?
Here are a few tips for choosing which Oscar plan you should get:
Oscar plans are named after metal tiers (Bronze, Silver, Gold, Platinum) to make it easy to compare your options. Each plan offers a different level of coverage and one might better suit your needs depending on your circumstances. It’s a good idea to take a moment to review any personal changes that may have occurred throughout the year to see if you need to switch to a different tier of coverage.
Here are four questions to ask yourself to see if you should consider changing plans this Open Enrollment:
Has your health changed?
Did you recently start treatment for a new condition or receive a new diagnosis? If you go to the doctor regularly or have an upcoming procedure, you may want a Gold or Platinum plan. It costs more per month, but covers more of the cost when you get care during the year.
If your health has improved in the last year, you might want to downgrade your metal tier to save some cash. Healthy people generally choose Bronze or Silver plans, which have lower premiums but have higher deductibles, so you pay less every month and pay more when you need care.
Look out for plans with copays for the types of services you need, as this can help keep costs down. For example, our Simple Silver plans offer a mid-level deductible with copayments for office visits. This means that you can receive routine care without worrying about reaching your deductible first. This type of plan is a great option if you have a chronic condition that needs routine management.
Keep in mind that every Oscar plan includes preventive care and will cover the cost your annual physical, a well-woman exam, preventive screenings, a flu shot, some forms of birth control, and more.
What's in your bank account?
Whether you recently started your own business or are looking for a new job, changes in your finances can impact which plan best suits your needs. Depending on how much you expect to earn this year, you may qualify for one or more forms of financial assistance to make your health insurance more affordable.
What box do you check?
Are you single? Married? Divorced?
Oscar offers family plans for those who are married or in a domestic partnership. If you recently celebrated a union, you might want to consider enrolling in a health plan with your spouse.
Pro tip: If one partner is healthier than the other, you might think about choosing separate individual policies to save. If you got divorced this year, it may be time to switch to an individual plan.
Did you have a milestone birthday?
Anyone over the age of 18 can purchase their own health insurance plan. However, the ACA (Affordable Care Act) has made it possible for children to remain on their parent’s plan until they turn 26. If you're turning 26 and currently covered under your parent’s plan, you'll need to sign up for your own insurance.