The COVID-19 pandemic increase health risks for all Americans, and with so many emerging cases, many consumers still didn’t have enough coverage or have coverage at all. When reviewing statistics, it is vital for uninsured Americans to visit the healthcare marketplace to find a policy that offers enough coverage if they contract the coronavirus. Without coverage, many hospitals may refuse long-term care for COVID-19 patients.
With the recent executive order issued by Present Joe Biden, the marketplace has a new enrollment period to give all Americans a chance to get the coverage they need. With adequate coverage, more patients have access to healthcare should they get the virus or face a new health crisis.
If You Are Not Covered Already
The healthcare marketplace set up by the Affordable Care Act provides access to a multitude of policies to meet the needs of all consumers. It is a great opportunity for finding health policies that meet their income restrictions and make it more affordable to obtain health insurance.
The Special Enrollment Period set up by President Biden’s executive order gives consumers more time to review and set up a healthcare insurance policy and get coverage when they need it. The insurance will cover medical care if the consumer contracts the COVID-19 virus.
Maintaining Your Current Coverage
Policyholders with existing healthcare policies won’t have to worry about the executive order changing their policy. They will maintain the same coverage they had to begin with, and they won’t have to worry about their insurance ending. The executive order will not change the percentage paid by the insurance, co-pays, or the policyholder’s deductible. It all remains the exact same unless the policyholder themselves makes changes.
Making Vital Changes Now
Consumers can make vital changes to their policy during the new enrollment period. They can sign into their existing healthcare plan and add a spouse or children according to their needs. For example, if the policyholder gets married or divorced, they can make these changes. If a family member covered by their policy dies or if they have a new baby, the consumer has the chance to add them during the new enrollment period without worry about any penalties.
Are There New Rates?
When reviewing new policy opportunities, the consumers can explore rates. If rates have changed recently, they can shop the marketplace for a different policy or determine if assistance is available when their income changes.
If they have never purchased health insurance through the marketplace, the consumer could find better rates and save more on their policy. Some consumers qualify for subsidies that pay a portion of their monthly premiums and make coverage more affordable. With the new enrollment period, they can sign up for coverage and get lower rates than through some local insurers.
Are There Different Dates for Each State?
The current enrollment periods could present some restrictions in some states, and it is recommended that current policyholders and new enrollees should review the current restrictions that apply to their home state when signing up. They may have limits on when they can sign up for new policies or make changes to current health insurance.
Currently, there are known restrictions for Ohio and Nevada. However, the dates could change if more executive orders are issued in the near future. The current changes offer extended enrollments for individuals who are facing a health crisis and have contracted the COVID-19 virus.
Does the Coverage Apply If the Claimant Moves?
If a policyholder is moving to a new state, it is vital for them to review their current policy terms and determine if they can transfer it to their new state. If there are transfer restrictions, the policyholder may need to start a new policy and make the necessary changes to cover themselves and their family.
It is vital to determine if they will maintain coverage through subsidiaries that apply to the existing policy. They will need to complete additional forms for the transfer when possible, and it is urgent that they provide details about their income level if it is changing when they move to the new state.
What Happens If the Policyholder Lost Their Job?
Since the start of the global pandemic, many Americans have suffered job losses and have faced difficulties finding a new job. This affects whether or not they can afford their current policy, and they must make changes to their policy to show that they are not employed currently.
These changes could qualify them for more subsidies that pay a larger portion of their insurance coverage. In light of the recent pandemic, a decrease in premiums or assistance in paying them could ensure that the policyholder won’t lose coverage just because they have lost their job. With nation-wide shutdowns of non-essential businesses, it is necessary to get help with coverage when it is available.
Did You Lose Eligibility for Medicaid?
Medicaid policyholders who have lost their eligibility can search for a healthcare policy that meets their needs. Typically, eligibility changes according to the claimant’s income and emerging state laws. Some states extended Medicaid to allow citizens to get approval if they earn less than $20,000 a year.
However, with changes, states that didn’t extend Medicaid under the ACA have further restrictions that make it more difficult to get a policy. However, the ACA and the new enrollment periods make it easier for them to find policies with subsidies that pay a portion of the premiums and make it more affordable for them to get coverage.
Consumers need healthcare insurance to cover all their medical needs throughout their lives. With the Affordable Care Act, President Obama presented a healthcare marketplace for consumers to find affordable insurance coverage. Since the recent COVID-19 pandemic, many Americans still need to get healthcare coverage.
They need affordable premiums that make it easier to get insurance and access to vital health services if the consumer gets COVID-19 and faces a lengthy hospital stay. With a new enrollment date, many Americans can get the health insurance they need and access to affordable premiums that won’t break the bank.
