Reed: Annual Open Enrollment For Health Insurance Has Begun & RIers Can Save Big

PROVIDENCE, Rhode Island, Nov. 5 -- Sen. Jack Reed, D-Rhode Island, issued the following news release on Nov. 4, 2022:

When it comes to health insurance, HealthSourceRI's got you covered - and now that open enrollment season is here, Rhode Islanders can pick out a plan that's right for them.

Health insurance open enrollment season kicked off this week and Rhode Islanders using HealthSource RI's (HSRI) marketplace have dozens of affordable health plans to choose from, giving them more flexibility in the coverage they need at a price that's right for them.

U.S. Senator Jack Reed -- who helped pass the historic Affordable Care Act law (P.L. 111-148) making health coverage more accessible and affordable -- is reminding Rhode Islanders to check out HealthsourceRI and encouraging them to shop around for comprehensive, affordable health insurance coverage during the annual Open Enrollment Period, which began November 1st, and runs through the end of January 2023. Those seeking coverage starting on January 1, 2023 must pick and pay for a plan by December 23, 2022.

Senator Reed says this year, thanks to the American Rescue Plan Act (P.L. 117-2) and the Inflation Reduction Act (P.L. 117-169), which President Biden signed into law, many Rhode Islanders can achieve new health savings. For instance, thanks to the American Rescue Plan Act, most HSRI customers may qualify for financial help to lower their monthly coverage cost - even those who weren't eligible in the past. And the Inflation Reduction Act included key health provisions to deliver cost savings to Rhode Islanders, such as lower premiums, capping insulin copays, and allowing Medicare to negotiate for reduced costs for prescription drugs.

Individuals who wish to enroll, change, or renew their health coverage through HSRI may do so at: HealthSourceRI.com/OE or by calling: 1-855-840-HSRI (1-855-840-4774).

"Picking the right health insurance coverage can be hard, but HealthSourceRI provides helpful tools online, over the phone, or through face-to-face personal assistance to help make it easier. They have resources to help you shop, compare, and find the plan that's right for you. I encourage all Rhode Islanders to get the coverage that best meets their needs," said Senator Reed. "Health care is essential and I will continue working to pass laws that make it more affordable. Check out HealthSourceRI and take advantage of new health savings."

Even if you don't get health coverage through the Affordable Care Act, the law promotes affordability for Rhode Island consumers and businesses and provides federal protections for all Americans with pre-existing conditions (including 443,900 Rhode Islanders who live with a pre-existing condition, according to the Center for American Progress).

In the wake of the COVID-19 pandemic, many health insurers have sought to hike rates, but recent changes to the law such as enhanced Advanced Premium Tax Credits have helped millions of families pay less for health coverage.

Since its inception in 2013, HealthSource RI has helped cut Rhode Island's uninsured rate by two-thirds. Today, 97.1 percent of Rhode Island residents have health coverage, an all-time high for the state, which ranks Rhode Island among the highest insured rates in the country.

The last possible day to enroll and pay for a 2023 plan is January 31, for coverage that starts February 1, 2023.

But Senator Reed says there is no time like the present: "When it comes to your health and finances, don't procrastinate. There's no time like the present and nothing more precious than your health. By signing up for health coverage you can give yourself and your family the gift of good health and save some money at the same time. Shop around and find a comprehensive, cost-effective plan that meets your needs."

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Original text here: https://www.reed.senate.gov/news/releases/reed-annual-open-enrollment-for-health-insurance-has-begun-and-riers-can-save-big