It may officially still show summer on the calendar, but with the kids back in school and Halloween items showing up on the shelves in local stores, you can tell that fall is just around the corner.
This not only means you’ll soon see pumpkin spice everything – it also means that Open Enrollment for 2019 is approaching fast. This year it begins on November 1, 2018, and ends a short six weeks later on December 15.
While it’s not quite time to pick out your new healthcare plan, there are some other things you should be doing now to get ready.
#1 Do a Mid-Year Checkup
If you’re receiving a subsidy on the marketplace, or rather, the government is providing a tax break on your health insurance, you need to do what I call a mid-year checkup.
As you may recall, last November when you signed up for healthcare through the healthcare.gov website, you had to state how much money you were going to make in 2018.
If you are self-employed this is often hard to do, so you probably gave more of a guesstimate, meaning that you didn’t have an actual figure so you had to make your best guess.
Now that we’re in the month of August, it’s time to take a look at those numbers again.
Are you making more than what you thought you would when you made your guess in November?
If you are, you need to contact the marketplace and let them know. If you don’t, you could very well find yourself owing tons of money back to the government when you do your 2018 taxes.
This could affect your subsidy and you know what happens next – higher payments!
#2 Review Your Health Insurance Coverage
If your income has significantly went up things could get even worse. You could actually lose your subsidy altogether and then your health insurance would skyrocket.
The good news is that there is a non-Obamacare option you can get instead, and the cost you pay for it doesn’t rely on your income level at all.
Catastrophic PPO plans are an affordable way to have great coverage and the best part is that the amount you pay each month will never change.
In fact, you can buy it now while you are in your 20s or 30s and you’ll still have the same payment all the way up until you turn 65 (when you switch to Medicare).
#3 Speaking of that Mid-Year Checkup
When was the last time you got a physical or a mammogram? If it’s been a while since you’ve had either, this is something you really need to do before the end of the year.
If you do have a plan through Obamacare, you’re already paying for preventative care anyway as part of your healthcare plan, so there’s no need to worry about the cost.
If you don’t have major medical though and can say the word “self-pay,” you will find that it pays to shop around. A self-pay physical should run you less than $200 and you should be able to get a full blood work panel done for less than a $100.
As for getting a mammogram, I always wait until Breast Cancer Awareness Month in October because there are places that will do this for you for free.
These tests are always worthwhile because if there is a problem they can detect it while it’s early and more treatable.
For instance, the last time I got my bloodwork done, some of the readings didn’t come back all that great. This has motivated me to start eating better and lose more weight.
If you are in the same boat as me and need a little motivation – go get this done!
Are You Worried About Your Healthcare Costs?
As a health insurance professional, I can help you find a health insurance plan that provides great coverage, but at an affordable cost. My email address and phone number are below. Contact me now for a free consultation and let’s discuss the best healthcare options for you and your family.