COSMOS GUIDE ON HOW TO PREPARE FOR OPEN ENROLLMENT
Open enrollment is a period of time where individuals and families can purchase a health insurance plan through the marketplace. New Jersey’s open enrollment starts on November 1st and ends December 15th. You must sign up for health insurance during this time period. If you miss this period you will have to wait until the next open enrollment period to purchase a plan. Some individuals may qualify for a special enrollment period but you must check to see if your event is eligible.
Before signing up for health insurance, complete these five steps:
1. MAKE SURE YOU QUALIFY FOR INDIVIDUAL HEALTH INSURANCE
If you can receive health insurance through your employer, you may not be eligible to sign up for a plan through the marketplace. Individual health insurance can be expensive, so if you qualify for Medicaid or CHIP, you may want to stick with one of those plans because they are cheaper.
2. ESTIMATE YOUR HOUSEHOLD INCOME
Estimate your household income pre-tax before enrolling in a plan. Keep in mind your monthly bills, if you or your partner will receive a raise, or if your household will be losing income.
3. HAVE ALL PERSONAL INFORMATION AND DOCUMENTS READY
Insurance companies ask for a lot of information when you are enrolling in a health plan. You will need: social security numbers, dates of birth and immigration paperwork, if needed, and names and dates of birth of everyone who will be on your plan.
4. HAVE TAX RETURNS AND EMPLOYER INFORMATION ON HAND
You will need your tax return from last year to determine whether you will receive tax credits or savings. You are also asked to provide your employers business name, address, and phone number.
5. PICK A PLAN THAT’S RIGHT FOR YOU AND YOUR FAMILY
Cosmo has a team of certified brokers that guide you during the process of choosing a health insurance plan. We help you choose a plan that fits your specific needs. Contact Cosmo to get a consultation today.
Cosmo Insurance Agency is an independent insurance agency serving surrounding communities in New Jersey. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating the latest in technology-based tools and laws on healthcare, employee benefits, life insurance and finance, we keep our clients up-to-date with the plans that encompass all of their needs, whether it is individual or group insurance.
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