The season of open enrollment brings a great deal of stress for some. Though most physicians have secured coverage for the coming year and will be experiencing no lapse in coverage, there are some who did not obtain health insurance by the December 15 deadline. This means that beginning January 1, they will have an interruption in health coverage. However, open enrollment does not end until January 31, and there is still time to obtain coverage, whether it is for the physician, their family, or their practice staff.

Complexities Lead to Questions

We understand that shopping for health insurance can be an intimidating process. A seemingly endless list of questions and factors must be considered when choosing an individual or staff plan. Should you choose the plan with the least expensive premiums, or the plan with the best coverage? Will your health care providers accept the plan you’re considering? What are the out-of-pocket expenses for this plan? How do the deductibles and co-payments impact the overall worth of the plan? What is the quality of the prescription drug coverage? Should you give credence to quality ratings when you consider a policy? There are, of course, many more considerations.

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Insurance Choices Simplified

Happily, you don’t have to sort through these options alone. At TMA Insurance Trust, our fully-licensed health insurance advisors have extensive experience in helping members sift through the options in the Texas health insurance market. You can consider your advisor to be your ‘personal health insurance shopper.’

How will an advisor make your life easier? He or she will discuss your situation, then investigate the market for you. Next, you’ll receive a personal quote and recommendation based on your needs. TMA Insurance Trust’s excellent service continues even after enrollment; if you ever have issues with claim processing, an advisor will be happy to help.

If you’re still struggling to understand all the options available to you, the personal assistance of a health insurance advisor can truly be invaluable; and it is available as a free benefit of your TMA membership.

The High Cost of Delay

After January 31, the window of open enrollment will close. At that point, your health insurance options will be severely limited. ACA plans will not be available until November 2017 unless you get married, have a baby, or lose your employer coverage.

Is short-term health coverage a suitable option? While it is true that you could use this type of insurance as interim coverage, pause and think about the following drawbacks to short-term health coverage:

• Short-term plans do not cover any pre-existing conditions. You will only have coverage for health problems that have not yet arisen.

• Unlike ACA coverage, short-term plans do not provide coverage for all federally-designated ‘essential benefits’. Most short-term policies leave you uninsured for regular office visits, maternity care, mental health care, and other preventive care.

• Since a short-term plan is not considered ‘minimum essential coverage’, you will likely owe a tax penalty on your next tax return.

At TMA Insurance Trust, we enthusiastically support your success. Therefore, if you are still shopping for health insurance coverage for yourself, your family, or practice staff, we urge you to act quickly! Open enrollment will soon end –– contact our advisors today.

For over 60 years, TMA Insurance Trust advisors have been serving Texas physicians, their families and staff. TMA Insurance Trust prides itself on offering unbiased information and strategies to members, along with exclusive group rates on a range of the highest-rated plans in the industry.