But now is the time for consumers to put thorough thought into their health care choices: Obamacare open enrollment is right around the corner, starting on November 15 and ending February 15, 2015. Unless you experience a major life event such as getting married or divorced, moving for a job in another city or having a child, this may be your one and only chance to find the coverage you need for 2015. Paying attention to open enrollment is definitely helpful even if you already have coverage. Use this time to shop around and make sure you’re in the right plan for your needs and budget.
During the last open enrollment, many Gen Y-ers and X-ers waited till the very end to sign up for coverage.
“It’s a safe bet that a lot of them just picked the cheapest thing they could find, not really understanding how their coverage would really work,” said Carrie McLean, director of customer care at eHealth.com, an online health insurance exchange based in Mountain View, Calif.
If you don’t want to get stuck with the wrong health plan for 2015, consumers need to do a little research now to understand their coverage options for the next open enrollment period.
The true cost of any plan is about more than just your monthly premium, even if that is all you care about right now. The premium is the amount you pay each month to keep your coverage in effect and could be taking out a large chunk of your paycheck. A third of eHealth customers said in a recent survey they would choose a plan with a lower monthly premium.