TULSA, Okla. — If you're looking to renew, change, or add healthcare, now's the time. Open enrollment for individual health care begins today and in Oklahoma, you have fewer options this year.
Last year, Oklahoma had eight healthcare plans available. This year, there are seven as Bright Health is leaving Oklahoma. Oklahoma Insurance Commissioner Glen Mulready says 13,000 people in the state are insured under this carrier and will now need to search for a new one. Even with Bright leaving, "we have a strong and competitive market," said Mulready.
Another change this year will be costs. Mulready says there will be an average rate increase of 8-10% due to health care service costs increasing. However, the good news is tax credits and subsidies from the inflation reduction act are still available.
"The average person is still only going to be paying, when I say average 90% of the folks on the plan are going to receive a credit that’s about 95% of the cost so their net out of pocket won’t go up that full 8-10%,” the insurance commissioner said.
Now, for those on Medicaid, during the pandemic, no one has been able to dis-enroll a member. He says those subscribers will need to be aware that dis-enrollment will resume come January.
“Typically in any given month here in Oklahoma, we have about 15,000 people that dis-enroll. In other words, they got a new job and so they now make too much money to be on Medicaid," explains Mulready. "Or they might be a pregnant mom, a single mom who at 6 months past the birth of a child so are no longer eligible for Medicaid but those folks have not dis-enrolled because of the public health emergency so that is all going to come to an end.”
Mulready says about 200,000 people in Oklahoma will lose that coverage in the new year. This will lead to a spike in people enrolling in other individual health insurance plans.
To renew or enroll in health coverage, you will need some information on hand, such as:
- Your social security number
- Your income for the last year
- Current insurance plan
You will make an account or log in on healthcare.gov to submit an application to see which plans you qualify for. From there, you can compare coverage and prices, then enroll in what fits your needs.
It's recommended that you complete the enrollment process by Dec. 15 for coverage to begin on Jan. 1. If you complete the enrollment process between Dec. 16 and Jan. 15, your coverage will begin Feb. 1.
For more on the process and a checklist of information needed visit this website.
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