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Open enrollment for both medicare and individual health insurance is going on right now. That is why it’s important to educate yourself on the various plans that are out there. Missy Shepherd with Way Insurance in Galesburg explained why this time period is so vital:
“Pharmaceutical costs drive a good portion of those rates in health insurance, and we can certainly tell it by the coverage each year – deductibles being applied to drug carts, formularies being more strict, closed off if you will. They’re only going to cover these sets of drugs. If it’s not on their list, it’s not covered. Things are getting tighter,” she said.
Shepherd reiterated that people need to get their appointments made because this is the only time to buy health insurance without a qualifying event. Those include a loss of other coverage and moving from one area to another.
The window to sign up for medicare for those 65 and older ends on Dec. 7th, while people under 65 have until Dec. 15th to sign up for individual health insurance. Shepherd cautions folks to be careful about what policy you might be purchasing:
“We have two carriers in Illinois at the moment; it’s Health Alliance and Blue Cross. If you’re getting a phone call from an agent out of Timbuktu, Florida, Oregon, wherever, with a policy of a name that you have not heard of, that is most likely not major medical health insurance. There’s going to be some holes in that contract somewhere, so buyer beware,” Shepherd stated.
For more information on health insurance and medicare, call Way Insurance at 341-0083.
written by Jackson Kane