Skyrocketing insurance premiums are as predictable as gravity. 2021 will be no different. It’s the way things are and have always been. Open enrollment for health insurance every year is quite stressful for most Americans. With a lot on the line and limited time to get it right, choosing healthcare can feel like a terrible experience. It takes some work to find the most affordable, effective option.
Our frustration with open enrollment should force us to look for something different. But the ‘importance’ of health insurance is so deeply rooted in our society that replacing it seems impossible. People think having health insurance is non-optional and essential for survival.
Year after year, we pay high prices for insurance we rarely use, feeling increasingly frustrated for wasting money. So it’s no surprise that we’re not excited about open enrollment for health insurance every year. But open enrollment is not the only option. Medical cost sharing is an innovative healthcare alternative, free from open enrollment stress.
Open Enrollment for Health Insurance: Why the Rush?
Health insurance companies are just that – companies. This means they have a bottom line to meet and are always chasing profit. It costs a lot to run a giant health insurance company and these costs get added to the premiums you pay. Premiums are used to pay sales commissions and shareholders. Insurance companies need to make money and open enrollment is one of the ways they achieve this.
Open enrollment is an annual period where people can buy health insurance. Health insurance for 2021 starts on November 1st and ends on December 15th. This gives you a little more than 6 weeks to research, understand, and choose healthcare options. If you factor in how confusing insurance terminology can be, that isn’t enough time.
When registering for open enrollment, you’ll encounter complicated terminology and figures you don’t understand. The harder you try to work the policies out, the more confusing they’ll become. And knowing open enrollment has a closing date will only make matters worse. It’s hard to make sense of what you don’t understand when you feel rushed.
Chances are, by the time open enrollment ends, you’ll sign an insurance policy. Not because you want to or because you understand it, but because you’re scared it’s your only healthcare option for a year. Time pressure and complicated jargon are the hallmarks of open enrollment. You are scared into signing up for healthcare because you have to – not because you want to.
The Pitfall of Open Enrollment
Insurance rates are especially high if you’re not getting employer-assisted health insurance coverage. Many independent contractors and small business owners are responsible for 100 % of their health costs. Whether you choose to buy health insurance for some or pay the rest out of pocket, you pay for it all. There’s no bottomless money pit for you to offset the cost.
Maybe you have an employer who does the insurance work for you and provides benefit packages. You’ll get to choose the best option for you and your employer will cover most of the cost. Then you’re left with only a small amount to pay for health care. Unfortunately, it’s not like this for everyone.
If your employer doesn’t provide employer-sponsored health benefits, finding healthcare is on you. Researching these options can be confusing. Trying to decide what’s best for you and your family is difficult. Luckily, there’s an option that makes finding healthcare easy – medical cost sharing!
Medical Cost Sharing: The Best Alternative to Open Enrollment
Medical cost sharing seems too good to be true. A healthcare option that cuts out filing claims with easy to understand guidelines. An option that gives you quality healthcare at an affordable price. Medical cost sharing promises to do the same job as health insurance for 50% less cost. No more second-guessing, the time to join a medical cost sharing community is now!
Here are our top reasons why medical cost sharing is a great option for you:
No Time Limit
Unlike insurance, medical cost sharing does not have a fixed open enrollment period. You can sign up to join a medical cost sharing community all year round. Knowing you have unlimited time to find the best option will give you peace of mind.
No Sticky Contract
Sure, you can leave health insurance anytime you want to. Just stop paying your premiums and you’re free. But this leaves you without any healthcare. Once you leave your insurance, you can’t go back until the next year’s open enrollment. With medical cost sharing, you can leave, join, and rejoin the community whenever you want.
Easier to Understand
During open enrollment, you’ll compare all sorts of healthcare options and their variables. When comparing medical cost sharing to health insurance, out-of-pocket exposure is important. With health insurance, you’ll be worrying about high deductibles and confusing co-insurance. But with medical cost sharing, it’s all about the simple initial unshared amount per incident. With Scoop Health, this amount can be as low as $500. This is far more affordable than a potential $6000 health insurance deductible!
No Profit Motive
With medical cost sharing, there are no shareholders and no bottom line. Medical cost sharing is all about community and sharing financial burdens between members. There’s no profit motive. This is why medical cost sharing with Scoop Health and Sedera is around 50% less than health insurance premiums.
Medical cost sharing brings like-minded people together to share financial burdens. With medical cost sharing, the community is the single-payer for all the member’s health care needs. When you join a medical cost sharing community like Scoop Health, you are joining a group of people who care about you and your financial well being.
Final Thoughts on Medical Cost Sharing and Open Enrollment
Open enrollment for health insurance has been paraded as the best healthcare option for decades. It’s time to step away from the norm and break bad habits. As anyone who’s tried to change anything knows, the oldest habits are the hardest to change. But it’s time to try something new – something better.
Scoop Health provides an affordable, accessible healthcare option that is better than insurance in so many ways. Ditch open enrollment this year and try medical cost sharing.