2020 Florida Health Insurance Open Enrollment
Open Enrollment for 2020 has officially begun! Now is time to compare all your health insurance options to be protected throughout the new year. Health Care Market Exchange is the official health registration center in Florida with over 250 licensed agents here to help you enroll. Compare over 200 different health plans based on the specific coverage needs with your allocated budget. We offer individual medical insurance plans, as well as affordable plans for your entire family.
When is Florida Open Enrollment for 2020?
Open Enrollment for 2020 coverage in Florida starts Friday, November 1st, 2019 and goes through December 15th, 2019. Coverage must be purchased during these 6 weeks unless you qualify for a Special Enrollment Period. This gives Florida residents sufficient time to contact our licensed agents to help them make an informed decision of the coverage that fits their exact needs and budget.
However, you may start to weigh your options even before the opening period despite changes to the Affordable Healthcare Act. You should speak with a licensed insurance provider through the Health Care Market Exchange at your convenience so that you can make the best decision before the closing date. If you enroll today, you can be covered as early as tomorrow.
Florida Family Health Insurance Options
Whether you’re applying for the first time or planning to re-enroll, there is a brief open enrollment window to purchase Florida health insurance on the private market.
Despite some minor changes to the policies provided by insurers, there are still the minimum required policies. With basic insurance, the lowest income earners can find better coverage than in previous years. While this was indirectly done, the Individual Mandate was the most critical part of the act to be repealed by a tax law reform.
It may be tasking and confusing to determine which coverage is right for you or your family with more than 200 different insurance policies available. We are here to help you compare every Florida health plan side by side. Based on your insurance requirements, we will equate the various monthly premiums in your plan and give a piece of free but honest advice to choose the most pocket-friendly plan based on deductibles, co-pays and coverage.
Financial and Health Risks of Being Uninsured
The tax penalty was eliminated after the end of 2018, and the ACA’s mandate penalty was assessed for the last time on tax returns filed in 2019. Technically, the individual mandate itself is still in effect, but there is no longer a federal penalty for being uninsured. Therefore, the IRS will not apply any tax penalties to citizens.
Serious illness or a terrible accident can make your medical bills unmanageable if you go without health insurance. Unfortunately, about 60% of all bankruptcies are correlated to medical expenses. But insurance offers you a financial security net for medical emergencies. Nonetheless, all citizens of Florida are strongly encouraged to have a kind of insurance coverage to minimize huge expenses out of pocket in case of an unforeseen contingency.
Paying a few hundred dollars per month is well worth the peace of mind and the access to essential care that can be expensive if you have no insurance coverage. Even if you are not always sick, you can have an affordable medical plan in Florida that offers legitimate benefits like wellness testing and seasonal vaccines.
Essential Medical Care Coverage
If you’re looking for individual or family health insurance in Florida in 2020, then you might qualify for ACA insurance (Affordable Care Act). Some essential benefits that provide the incentive to buy an ACA health insurance plan in Florida include maternity care, mental health services, drug use/rehabilitation, pediatric and preventive care (it often includes dental and vision). It is of great importance if you have a child under the age of 18.
Explanation of the “Metal Rating” System Between Plans
From previous insurance plans and other insurance coverage, you probably are familiar with the metal rating system. A metal rating system is utilized by many of the largest insurers. The reliability of a policy is directly related to the price of the particular metal. The metal level indicates how much cost-sharing they require.
- Platinum is the highest classified tier with a usual coverage of 90% of medical costs.
- Gold is next, offering up to 80% coverage.
- Usually, Silver plans offer up to 70% medical cost coverage.
- Bronze plans are paid at the lowest premiums, and only 60% of medical costs are covered.
Generally, the more you pay in premiums, the lower your cost-sharing. It would be safer to use a higher premium plan if you get sick regularly, or someone in your family needs regular health care. Because in the end, you save money with low out of pocket costs. If you’re on a budget and are usually very healthy, a bronze plan is usually your best option.
Will Florida Health Insurance Costs Increase in 2020?
After several years of premium hikes, which increased by an average of 5% this year, Florida State insurance regulators have released their annual list of approved health insurance plans for 2020, projecting no change to the average cost of premiums. It means that average premiums will remain unchanged for unsubsidized enrollees.
Will the Popularity of Current Products Change?
Despite this release, large employers predict the total cost of covering health insurance for workers and their families will increase by roughly 5%. Hence, employers and workers will shell out more cash for health insurance in 2020. These plans ensure excellent attention and support through closed networks, which means that your current doctor may no longer be covered. Because of this change, most households will change the type of health insurance package they purchase. Even though the decision will depend on medical needs and budget, many families and individuals would consider the convenient option for a low cost.
Get the Best Advice When Signing Up For 2020 Florida Health Insurance
Comparing all the different health plans and choosing the one that is best for you can seem overwhelming. This is why we made it our primary mission to partner with all of the trusted healthcare companies to help you compare all plans instead of calling each company individually. With over 250 licensed agents available, Health Care Market Exchange offers 100% free assistance to compare all the best Florida Health Plans side by side. Our only goal is to get you the best and cheapest Florida health insurance plan that suits your particular needs.
Call us today at (888) 873-9003 to get instantly connected to the Official Florida Health Enrollment Center.