As the dust settles from an intense election season, Floridians now face a quieter, but no less important, task: selecting the right health insurance.
The open enrollment period is now underway and is one of the few opportunities we get each year to make a decision that can have a direct impact on our health and financial well-being.
With rising healthcare costs, changing policies and a variety of insurance options, it’s essential that Floridians use this time to ensure they have the right health insurance coverage for the year ahead.
Florida has seen some significant changes in its healthcare landscape in recent years. With the political focus on healthcare reform, ongoing debates over Medicaid expansion and shifting local policies, many individuals and families may find themselves needing to reconsider their plans or explore new options.
One of the key issues for Floridians is how to navigate the rising costs of healthcare. It’s essential to not only consider the price but also a plan’s coverage network, prescription drug formularies and the types of services you may need, such as mental health care, maternity care or specialty treatments.
Many families find themselves caught between the attainment of affordable coverage and the harsh reality of premiums, deductibles and out-of-pocket expenses.
Health insurance in Florida is notoriously expensive, particularly for those who do not have access to employer-sponsored plans or government assistance programs like Medicaid.
The choices available during open enrollment may reflect new providers, changes in plan costs, or updated benefits that align better with your health needs.
Regardless of your situation, there are some steps you can take during open enrollment to help make the best decision for you and help manage your costs:
- Evaluate your needs: Think about what kind of care you expect to need next year. If you anticipate needing specific treatments or medications, check the plan’s formulary and the network of doctors to ensure your preferred providers are covered.
- Check for subsidies: If you earn between 100% and 400% of the federal poverty level, you may qualify for subsidies. Make sure to check if you’re eligible for financial assistance on the marketplace.
- Shop around: Even if you’re happy with your current plan, it’s worth comparing it with other options. Plans and premiums can change from year to year, and what worked for you last year might not be the most cost-effective choice today.
- Understand your costs: Be sure to look beyond the premium. While a low monthly premium might be appealing, you also need to consider deductibles, copayments, coinsurance and other out-of-pocket costs that could add up over time.
- Don’t Wait: Open enrollment periods are limited and failing to decide could leave you without coverage or force you into a plan that doesn’t meet your needs. Know your deadline.
As we continue to work toward more affordable healthcare in Florida, it’s up to each of us to take charge and make the most informed decision to support our health and financial well-being.
Don’t miss the opportunity to best protect yourself and your loved ones—there is no easier decision than that.
Keith Dean is executive director of Floridians for Affordable Healthcare.
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