Open Enrollment Season for Healthcare and Medicare Plans Is Here
11.03.2023
The time is now for Americans to sign up or update their individual health insurance through the Affordable Care Act (ACA) and Medicare. The open enrollment period for the ACA-created Health Insurance Marketplace runs through January 15. This is particularly important for Americans with no access to employer-sponsored health plans and not yet eligible for Medicare as recent legislation has expanded the availably of premium tax credits to millions of Americans. The premium tax credits are typically paid directly to insurance companies to help offset the costs of monthly premiums. In 2021, the average monthly premium tax credit received by enrollees was almost $500.
The annual open enrollment period for Medicare runs through December 7. During this time, Americans currently enrolled in Medicare can review and make changes to their existing plans. For example, enrollees could elect to switch from Medicare Advantage to Original Medicare and/or elect a Medicare Part D prescription drug plan.
More information about the ACA and Medicare can be found at https://www. healthcare.gov/ and https://www.medicare.gov/.
Did you know DCM can help you navigate the health coverage landscape? DCM partners with an independent health insurance agency to assist clients in maneuvering the ACA and Medicare marketplaces, find the optimal coverage level, and utilize any available premium tax credits with no additional cost to the client.
If you have questions about the open enrollment periods, the Affordable Care Act, or Medicare, give us a call. A vital part of every financial plan is maintaining appropriate health insurance is, and we are committed to helping our clients find the right solution.
This report was prepared by Donaldson Capital Management, LLC, a federally registered investment adviser under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply a certain level of skill or training. The oral and written communications of an adviser provide you with information about which you determine to hire or retain an adviser. Information in these materials are from sources Donaldson Capital Management, LLC deems reliable, however we do not attest to their accuracy.
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