If you aren’t covered under an employer-based health insurance plan or Medicare coverage, this is an important time of the year to review your current coverage and make any changes necessary to ensure you and your family are properly protected. 

“The annual election period for health insurance happens during the fourth quarter, and it is the one time of year you can make changes with few restrictions. It is not a ‘one size fits all’ decision,” says Steve Kammeyer, vice president of health insurance services with Farm Bureau Financial Services. “It is important for each individual and family to consider what is best for their individual situation — and your local Farm Bureau agent can assist you in making those decisions.”

Farm Bureau agents can help you with two different options:

• For those who qualify for tax credits under the Affordable Care Act (ACA), Farm Bureau offers specific ACA-compliant plans that are administered by our long-time partner, Wellmark Blue Cross Blue Shield of Iowa. These plans provide comprehensive benefits to help protect you and your family.

• For those not eligible for ACA tax credits, Farm Bureau also offers the Farm Bureau Health Plan, an underwritten plan that offers very similar coverage to the ACA plans, but potentially at a much lower cost than is available in the ACA market. This plan can be a perfect fit for young families, early retirees or others in the market for individual health coverage. Each applicant is subject to underwriting, and some members have seen savings of as much as 50% compared to their previous premiums. For more information, go to www.iowafbhealthplan.com.

Those ACA tax credits have been in the news recently as they were the main sticking point in the negotiations to reopen the federal government. Without certain extensions of these tax credits, some people previously eligible may find out they no longer qualify, and the Farm Bureau Health Plan may be a much more economical alternative, Kammeyer said. 

Your local Farm Bureau agent can also help you if you are currently covered by Medicare or are entering that period of time when you become eligible. They have access to a variety of Medicare Supplement plans, as well as Medicare Advantage plans, and Prescription Drug plans that can help offset the costs that Medicare doesn’t cover.  

“It is important to take time to review all of your insurance coverages on a regular basis to make sure you have the protection you need, and the fourth quarter is a perfect time to do that with your health coverage,” Kammeyer added. 

Contact your local Farm Bureau agent for more information.