health information
Why Are Health Insurance Companies Forced Into Specific Enrollment Periods By The Government?
For example, in this part of the US, you can only enroll in a certain health insurance company between the weeks of 11-15 and 12-31. Apparently CMS, the regulatory healthcare branch of the government, enforces this rule. Doesn’t that just make everything more difficult for the customers, providers, companies, and CMS itself? An entire multi-billion dollar business only gets to work for 8 weeks out of the year. Am I missing something, here?
| This entry was posted by admin on February 13, 2010 at 7:08 pm, and is filed under Health Care Services. Follow any responses to this post through RSS 2.0. You can leave a response or trackback from your own site. |
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about 6 months ago
Where are you getting your information? “Open enrollment” periods are usually something incorporated into employer group plans – not mandated by “CMS.” Insurance (presently) is largely regulated at the state level.
about 6 months ago
You’re missing something. Perhaps that’s a special program. Health insurance is available 24/7 and 365. That’s also a common marketing scam telling people that there’s an ‘enrollment period.’
about 6 months ago
The IRS did this, to keep employees from jumping on for one month, putting in the claims, and then dumping the insurance. Employers didn’t object, because it’s a lot of paperwork and effort, if an employee wants to do that six times a year.
It actually simplifies things drastically, AND, helps prevent adverse selection issues.
**This is only for GROUP plans. As the Pickle mentioned, private coverage does NOT have these limitations.**