Did you know? There is a significant change coming our way this 2018 Open Enrollment.
The 2018 Open Enrollment Period runs from November 1, 2017 to December 15, 2017 (Healthcare.gov). That is 6 weeks LESS than the 2017 Open Enrollment Period which ran from November 1, 2016 to January 31, 2017. In other words, your time to enroll consumers in a health plan went from 3 months down to just 45 days.
Why this change from CMS (Centers for Medicare & Medicaid Services)? CMS explains this final rule, known as the “Market Stabilization” rule, should help lower premiums, stabilize individual and small group markets, and increase choices for Americans in the 2018 health insurance market. Additionally, the adjusted dates will better align with Medicare and the private market, encouraging individuals to enroll in coverage prior to the beginning of the year.
ThinkAdvisor.com even notes how CMS officials believe the shorter 2018 enrollment period and tighter SEP eligibility verification rules will improve the quality of the risk pool and help persuade insurers to stay in the individual market.
So how does this increase choices for your clients? For one, the adjusted time will allow issuers additional actuarial value flexibility to develop more choices with lower premium options for consumers, and to continue offering existing plans.
How do you plan on tackling the new open enrollment period? What is your strategy for success? Let us know! Shoot us an email at firstname.lastname@example.org to start the conversation and set up a time to discuss how we can work together this 2018 open enrollment period.