Frequently Asked Questions

1. When are the Open Enrollment Periods?

2. What is IRMAA?

3. Can I shop online for health insurance and get a lower premium?

4. Will I be subject to pre-existing conditions?

5. Why does my insurance rate increase every year?

6. Why do I need disability insurance? 

7. What are supplemental products? 

8. What are health savings accounts (HSAs)?

When are the Open Enrollment Periods?

For Medicare: For Advantage plans and Part D plans, October 15th - December 7th. For Supplementals, there is no open enrollment. You can switch your Supplemental plan company at any time of the year as long as you can make it through underwritting.

For Marketplace and Individual: November 1st - December 15th. Outside of this time period, the only way to get a individual plan is if you qualify for a SEP (Special Enrollment Period). Some examples of a SEP would be is if you lost group coverage, moved into the state of Montana and had prior coverage, lost State Medicaid and more. Call us to see if you fall into a SEP. 

What Is IRMAA? 

IRMAA is the additional Medicare premium for Medicare Part B that must be paid by individuals with income higher than $109,000 or a married couple filing jointly earning above $218,000. The Modified Adjusted Gross Income (MAGI) from 2 year prior is used to determine if IRMAA applies

Can I shop online for health insurance and get a lower premium?
The premium cost is the same whether you shop online or use an agent.  The advantage of using an agent, is having someone who can explain your options to you so you know what you are purchasing.  At Aspen Insurance we are also here to answer any benefit or claims questions for you, and to help you resolve any problems. 

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Will I be subject to pre-existing conditions?

For Supplemental policies outside of your inital enrollment period or in a guaranteed period, short term, life and disability you are subject to underwritting.

For individual health policies under the age of 65, they can not ask you about any pre-existing conditions. 
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Why does my insurance rate increase every year?
There are several reasons that health insurance rates increase:  increased costs from providers, increase in medical care received by insureds, increased cost of prescriptions, increased benefits mandated by the state, and the cost-shift from Medicare/Medicaid and uninsureds to the private insureds.
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Why do I need disability insurance?
Your ability to earn income is the highest risk that you should have insurance coverage for.  If you were not able to work due to a disability could you pay your mortgage/rent, your car payment, buy food?  Disability insurance covers a percentage of your lost wages should you become disabled.

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What are supplemental products?
Supplement products are designed to complement your health insurance, not replace it.  Supplemental products pay you directly and can help offset your deductible, out of pocket expenses, even travel expenses with some policies.  There are a variety of supplement products available, such as:  short-term disability, accident, life, critical illness, hospital, cancer, dental and vision.  Supplement products work well with high deductible health plans.
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What are health savings accounts (HSAs)?
HSAs go hand in hand with high deductible health plans.  The health insurance plan must meet specific guidelines that were set up by the federal government.  You can then open a HSA at your personal bank.  It is typically set up similar to a checking account.  You may then put money into this account to pay for your expenses.  This money is considered pre-tax dollars.  If it is contributed via payroll reduction, it can be taken out of you check pre-tax.  If you contribute directly to your own account, it is considered an above the line deduction (before your adjusted gross income).  You should check with your tax account to see if this would benefit you.  Aspen Insurance can then give you some options for health insurance plans that meet the federal guidelines. ALL bronze plans for the Marketplace are HSA eligable for the 2026 year.