The next several months are special for a lot of reasons. With the arrival of winter comes some of the year’s most celebrated holidays and a chance to start fresh in a new year. Because it is also the annual open enrollment period, the next few months hold a different kind of importance for many people, one that can impact their health, their families, and their finances. Open enrollment may not sound as fun as the other occasions in winter, but it can be just as important.
Last week, we wrote an article featured on DentistryIQ outlining what open enrollment is and why it matters to dentists and all small business owners.
Here are highlights from the recent Zane Benefits blog feature.
Article Highlights - Open Enrollment and Why it Matters to Your Dental Practice
The article explains what open enrollment is, why it matters to you, and what action you can take during this time.
1. What is open enrollment?
Open enrollment is an annual event where anyone can sign up for individual health insurance. This year, the open enrollment period began on November 1, and it will end on January 31, 2016.
2. Why does it matter to me?
Those who fail to sign up for insurance during this crucial period may be forced to wait until next year. Furthermore, the Affordable Care Act created an individual mandate that requires all Americans to carry health insurance. Sometimes called the “shared responsibility fee,” this mandate requires those that do not carry health insurance to pay a fine.
3. What should I do?
For companies not currently offering a group health insurance policy, open enrollment is the very best time for companies to start a premium reimbursement program. These programs, through which employers reimburse employee premiums instead of paying them, are more effective when launched during open enrollment because all employees can sign up for individual coverage during this time.
DentistryIQ provides dental professionals worldwide with a comprehensive collection of information on what is happening in the dental industry. The DentistryIQ feature titled, "Wise-up Wednesday: Open enrollment and why it matters to your dental practice" details why open enrollment is critical for small business owners and their employees.