Open enrollment for the Affordable Care Act (aka “ObamaCare”) for 2015 health coverage begins November 15th. As with all open enrollment dates, it is a good time to reassess your current policy and future options to make sure you are best covering you and your family’s current healthcare needs. Choosing the wrong plan can cost you thousands of extra out of pocket dollars.

Whether you are in an open enrollment period for your company or whether you begin surfing the websites for your state-based American Health Benefit Exchanges, it is a great time to make sure that your coverage best reflects your needs.

Recently, I was interviewed by Jeanette Pavani of the Wall Street Journal for her article entitled Bargains to Be Had in November, where she outlined a few of the factors you should consider such as how to maximize employer health benefits if both you and your spouse work.

Searching through the Heath Care Exchanges can be a daunting task. To that end, I have attached a brief piece on how the Insurance Exchanges work. It is important not to make decisions just based solely on premium levels, but also to consider your expectations as to how much healthcare you and your family may need in the coming year.

This review should consider many factors including:

  1. Premium levels you can afford (via the Bronze, Silver, Gold level plans, etc.).
  2. The network of physicians and hospitals you need as it is much more expensive to go “out of network”, and
  3. If you are heavy utilizers of healthcare and/or prescription drugs, calculated the total cost you will have out of pocket (including the premiums) to see which is the best deal for you and your family.
IMPORTANT DISCLOSURES

Financial Planning and Investment Advice offered through Avidian Wealth Management (STA), a registered investment advisor.

STA does not provide tax or legal advice and the information presented here is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters or legal issues, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

As always, a copy of our current written disclosure statement discussing our services and fees continues to be available for your review upon request.

Additional Articles

Open enrollment for the Affordable Care Act (aka “ObamaCare”) for 2015 health coverage begins November…

Open enrollment for the Affordable Care Act (aka “ObamaCare”) for 2015 health coverage begins November…

Disclaimer:

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Avidian Wealth Solutions, LLC), or any non-investment related content, referred to directly or indirectly in this newsletter will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from Avidian Wealth Solutions, LLC. Please remember to contact Avidian Wealth Solutions, LLC, in writing, if there are any changes in your personal/financial situation or investment objectives to review/evaluating/revising our previous recommendations and/or services. Avidian Wealth Solutions, LLC is neither a law firm nor a certified public accounting firm and no portion of the newsletter content should be construed as legal or accounting advice. A copy of Avidian Wealth Solutions, LLC’s current written disclosure statement discussing our advisory services and fees continues to remain available upon request.

Financial Planning and Investment Advice offered through Avidian Wealth Solutions (Avidian), a registered investment advisor. Avidian does not provide tax or legal advice and the information presented here is not specific to any individual’s circumstances. To the extent that this material concerns tax matters or legal issues, it is not intended or written to be used, and cannot be used, by a taxpayer to avoid penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her circumstances. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

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