Summer Barbecue and Health Plans
Friends enjoyed the last of summer with a barbecue and discussed their health plan coverage over dessert. Their conversation illustrated the country’s different health insurance systems and their open enrollment seasons.
- School counselor: Employer insurance provided rich benefits, broad network, and low costs. The health plan was the same every year because it was protected by a union. His personal and financial circumstances hadn’t changed, so he didn’t expect to make any changes for 2022. Like many large employers, enrollment begins on October 1.
- Single retiree: Traditional Medicare covered comprehensive care throughout the year. She incurred nominal costs—thanks to a supplemental plan—for specialists, hospitalization, drugs, and therapy. While both plans would cost more in 2022, she would not consider Medicare Advantage given her needs. Enrollment begins on October 15.
- Sole proprietor: Obamacare coverage cost $1,000 per month for a plan with a $5,000 deductible. His circumstances hadn’t changed, but federal marketplace plans and prices change every year. While he expected to stay with the same insurance company, he would “comparison shop” for a new plan. Enrollment begins on November 1.
These friends each participated in a different health insurance system with their own rules. Each would participate in annual open enrollment—in some form or another—over the next few months. They all dreaded it.
As consumers, they also demonstrated the complexity of the U.S. health insurance systems. It sure would be simpler if there was one system and enrollment for everyone. In the meantime, they’re Mastering Health Insurance.
Photo: Turtles in South Pond, Chicago enjoying the last of summer