What to update on your health insurance

Open enrollment is a critical period for individuals and families to review and make changes to their marketplace health insurance plans. It's a time when you can adjust your coverage to better suit your changing needs and circumstances. Several life events can impact your health insurance needs, and taking advantage of the open enrollment period can help ensure that you have the right coverage in place. If you are a current client, you'll be getting an email soon to give us any updates or changes to make to your health plan.

1. Income and Household Size: Your income and household size are key factors in determining your eligibility for subsidies and tax credits under the Affordable Care Act. If your income has changed significantly since your last enrollment, updating this information is crucial. An increase or decrease in income could impact the level of financial assistance you receive for your health insurance premiums. Similarly, changes in household size, such as the birth of a child or a dependent moving out, should be reflected in your plan to ensure accurate coverage.

2. Who to Include in Your Taxable Household: When updating your marketplace health insurance plan, it's important to accurately include members of your taxable household. This includes individuals you claim on your tax return, such as dependent children. Failing to include your entire taxable household can lead to fines when you file your taxes and potential coverage gaps.

3. Moving: If you've moved to a new state or zip code, it's essential to update your marketplace health insurance plan to reflect your new address. Health insurance plans can vary by state, county and zip code, and your coverage options might change as a result of the move. Even if you've moved within the same state, different regions can have distinct plan offerings and costs. Reporting your new address during open enrollment ensures that you're enrolled in the most suitable plan for your current location.

4. Pregnancy and Adoption: Life changes like pregnancy or adoption can significantly impact your health insurance needs. Adding a new family member to your plan is a critical step to ensure they're covered from the moment they need care. This might involve changing to a plan that offers better maternity or pediatric coverage. Adequate coverage during these times ensures that you and your family receive the medical care you require without incurring unexpected expenses. Plus adding a new member to your household could make you eligible for extra subsidies, lower deductibles and lower out of pocket costs. Your local agent at Utah Avenue will ensure that you have the right plan to save you the most on labor and delivery.

5. Marriage: Getting married can trigger changes to your health insurance plan. You might have the option to combine your and your spouse's plans, depending on how you plan to file your tax return. Compare the benefits and costs of both plans to determine the best option for your newly married household. Remember to update your marital status and include your spouse in your coverage during open enrollment. Your local agent at Utah Avenue Insurance can help you compare plans and help you decide which plan is the right for you.

6. Divorces: Just as marriage prompts adjustments to your health insurance, so does divorce. If you were previously covered under your spouse's plan, you'll need to secure new coverage for yourself. Open enrollment provides the opportunity to find a plan that suits your individual needs and budget. Promptly updating your insurance status post-divorce prevents any lapses in coverage.

7. Doctors: If you've recently changed healthcare providers or are planning to switch to a new doctor, it's vital to ensure that your chosen provider is covered under your health insurance plan. Different plans have varying networks of doctors and medical facilities. Our team can help you review your current plan's network and determine whether your new doctor will be covered without any disruption in care.

8. Medications: Changes in your prescribed medications can also impact your health insurance needs. During open enrollment, take the time to review the list of medications you're currently taking and check whether they are covered under your plan. If there have been adjustments in your medication regimen, you'll want to ensure that the new medications are covered and that any associated costs are manageable. Your local agent at Utah Avenue Insurance can help you know what your medication costs will be for the year and help find a plan that covers them at the lowest price.

Open enrollment is a crucial time to review and update your marketplace health insurance plan to reflect changes in your life circumstances. Whether it's changes in income, household size, address, or significant life events like marriage and divorce, taking the time to make necessary updates ensures that you have the coverage you need when you need it most. Watch for an email from your agent to notify and update all this info. The survey takes about two minutes to complete and will give your agent all the info they need to find the right plan for your family next year. Keeping your insurance information current allows you to navigate life's changes with confidence, knowing that you and your loved ones are protected by a well-suited health insurance plan.

At Utah Avenue Insurance, we understand that life is full of changes, and we're here to guide you through the process of updating your coverage to ensure it remains a perfect fit. Here's how our seamless process works:

1. Stay Connected via Email and Text: To make the open enrollment process as convenient as possible, our team at Utah Avenue Insurance will send you an email and a text message containing a personalized link. This link will take you to a secure online portal where you can easily update your information and give us any changes to research in your health insurance plan for the next year. Our digital platform is designed to be user-friendly, allowing you to review and modify your plan details with just a few clicks.

2. Update Your Information with Ease: Upon clicking the link provided in the email and text, you'll be directed to your personal online dashboard. Here, you'll find sections to update various aspects of your insurance plan. Whether it's adjusting your income, adding or removing household members, updating your address, or specifying recent life events, you can efficiently manage all these changes from the comfort of your home.

3. Reach Out to Your Trusted Agent: We understand that some changes might require more personalized attention. If you prefer discussing your situation with one of our knowledgeable agents, we're here to help. You can reach out to us via phone or email, and we'll be more than happy to guide you through the process or answer any questions you have. We also offer the option to schedule an appointment if you'd like to have a dedicated conversation about your insurance needs.

4. Your Trusted Partner at Utah Avenue Insurance: Remember, our assistance is always free. We're not just here to provide insurance services – we're your partners in navigating the complexities of health insurance. We're dedicated to helping you find the right coverage that aligns with your changing circumstances. Whether you're experiencing major life events or just need to make routine updates, our team is committed to making the process smooth and hassle-free.

Open enrollment is a time of opportunity to ensure your marketplace health insurance plan remains tailored to your needs. At Utah Avenue Insurance, we're here to support you every step of the way. With our email and text notifications, personalized online portal, and the availability of our experienced agents, updating your insurance information has never been easier. Remember, our help is always free, and we're excited to be your trusted partner in securing the best possible coverage for your evolving life journey.