Open enrollment for individuals begins on November 1. In an effort to make choosing a health plan easier for consumers, the federal government is encouraging insurers to offer “simple choice health plans” as an option during the upcoming Marketplace open enrollment.
Insurers won’t be required to offer simple choice plans on the Marketplace; however, for insurers that choose to do so, the government is providing guidelines for creating a simple choice plan design at each of the current metal levels (bronze, silver and gold).
These plans will have standardized deductibles and annual out-of-pocket maximums. Additionally, many services will allow consumers to pay flat-dollar copayments upfront instead of having to meet their deductible before insurance will cover the cost.
A potential advantage of standardizing consumer choices is allowing consumers to make better, more informed choices. However, experts warn that offering both standardized and non-standardized plans could be confusing for consumers if the plans are not clearly distinguished from one another.
An AUI agent can help you understand your options in the Federally Facilitated Marketplace for no additional cost to you. To have an AUI agent contact you just click here.