Registration for 2022 health insurance has begun: what you need to know

On November 1, Open Enrolment began - the period for purchasing health insurance for 2022 under the Affordable Care Act program (better known as Obamacare). It will last until January 15. If you already have coverage under this plan and you don't take any additional steps, you'll get coverage next year under the same plan you have now. However, experts advise exploring new options as new insurance providers entered the market this year and prices for many plans have dropped.

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ForumDaily asked the specialists of the well-known New York insurance company Fidelis Care to talk about what should be paid attention to those who want to buy health insurance for 2022. If you are interested in one-on-one advice on health insurance in New York, contact the specialists insurance company Fidelis Care; consultation in Russian is also possible. Phone: 347-642-2993, e-mail: [email protected]

Reducing the cost of premiums

According to the Centers for Medicare and Medicaid Services, the average monthly cost of premium coverage for the base “silver” plan for 2022 has decreased by 3% in 33 states with a federal insurance exchange.

Insurance premiums have been declining for the fourth year in a row due to increased competition in the market. If we compare the prices of 2022 with the prices of 2018, then the average insurance premium for the benchmark plan in 2022 will be 10% lower for individual insurance (young client, 27 years old) and 9% lower for a family of four ...

"Inflation is driving up the prices of many of the products we need, but when it comes to health care through the Affordable Care Act (ACA), there's a good chance premiums will go down," he said. CNN Xavier Becerra, head of the US Department of Health and Human Services.

In addition, with increased federal subsidies, many Americans will be able to enjoy significant discounts when purchasing insurance. On average, the cheapest plan will cost $ 41 a month after receiving assistance, compared to $ 441 without subsidies. Low-income people can opt for policies with monthly premiums of just a few dollars.

According to officials, four out of five consumers (or 80%) will be able to find coverage with premiums up to $ 10 a month after subsidies expand.

Changes to the Obamacare program in March allow Americans to pay for health insurance no more than 8,5% of their income (before the limit was almost 10%). And people on low incomes receive subsidies that provide them with free insurance with almost zero premiums.

The increase in subsidies was introduced in connection with the pandemic and will be in effect this year and next.

More options

On the federal insurance exchange 2022 companies offer their plans for 213, which is 32 more than this year. Each applicant will have, on average, access to offers from six to seven insurers and 107 insurance plans. Both of these indicators are higher than in previous years.

Insurance in New York

New York has its own state insurance exchange. This gives the region more control when negotiating prices with insurers, and also saves residents money as they do not have to pay premiums on premiums charged by the federal exchange.

Sales of insurance plans for 2022 to begin in New York November 16 and will last until January 31.

Detailed advice on insurance in New York, as well as qualified assistance in choosing an insurance plan, can be obtained: in Fidelis Care by phone 1-888-343-3547 (by calling a Russian-speaking translator service is available); by direct phone +1 347 642 2993 from the Russian-speaking company representative Leonid Kopeikin; on the site fidelscare.org.

Why you should review your current insurance

Specialists Fidelis care recommend that coverage options be reviewed at each Open Enrollment period. First, each of the plans from any insurance company expires on December 31st. Secondly, the plans could change the terms and prices or be canceled altogether. And third, the health insurance plan you had last year may no longer fit your needs or budget.

Additionally, lower prices and expanded offerings on the insurance exchange, as well as more generous subsidies, are a good reason to reconsider your current insurance plan and explore new options. There is a high chance that you will find better coverage.

What happens if you do not buy insurance before the close of the registration period

If you do not purchase an ACA-eligible health plan by the end of the Open Enrollment period, your options for health coverage next year will be very limited. This can result in additional medical costs that you will have to pay out of your own pocket for. Fidelis Care stressed that the next open enrollment period will resume no earlier than November 2022, and the coverage then acquired will only take effect from January 1, 2023.

More detailed advice on insurance in New York can be obtained from Fidelis Care by phone 1-888-343-3547 (the service of a Russian-speaking translator is available when calling), by direct phone +1 347 642 2993 from the Russian-speaking company representative Leonid Kopeikin, or on the website fidelscare.org.

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