Cost has always been one of the most important factors of peoples’ health insurance choices – if they’re able to afford coverage at all. But healthcare and finances are more closely tied now than ever before.
As Oscar CEO Mario Schlosser says in the next episode of The Conversation, “Both a recession starting, and a recession starting for healthcare reasons – the pandemic – is really something that has never occurred in the history of the U.S.”
Mario is joined by George Kalogeropoulos, CEO of HealthSherpa (opens in new tab), a mission-driven company and partner to HealthCare.gov that helps people find and enroll in high quality, affordable health coverage and use that coverage throughout the year – coverage from companies like Oscar.
to learn about how to easily sign up for affordable health insurance if you’ve lost your job due to COVID-19, understand what subsidies you may be eligible for, and tips for navigating the many choices and complexities of the U.S. healthcare system to get the most value for yourself and your family. The CEOs also discuss why access to high-quality health insurance is so important at every stage of your life – during the pandemic, when you’re sick, and even if you’re healthy.
Understand your options – like ACA marketplace insurance and COBRA.
The COVID-19 pandemic has impacted nearly every part of peoples’ lives, creating challenges that extend beyond health care. Oscar’s priority is helping our members (opens in new tab) stay safe without sacrificing the care they need due to cost (opens in new tab) and other reasons. We know health care can feel like just another stressful thing to figure out right now, when people are also experiencing financial burden due to job loss, isolation, and limited access to affordable options for everyday essential resources.
Fortunately you do have many options, starting with health insurance you can sign up for right now if you’ve had a qualifying life event (opens in new tab) like a change in your salary. Depending on your income level, you may also be eligible for government subsidies that lower your out-of-pocket costs for coverage – “a tremendous value and a tremendous safety net for people who qualify,” as George says during the conversation. “It absolutely makes sense to spend the five minutes it takes to anonymously determine whether they may or may not be eligible for these programs.”
That’s exactly what HealthSherpa helps people do – navigate their marketplace coverage options offered by insurers like Oscar. HealthSherpa has enrolled over 3 million Americans in Affordable Care Act (ACA) coverage, with an average premium of $48 per month, according to George. The company only sells ACA plans, which have built-in consumer protections.
George cautions against COBRA, which can be very expensive, and options that may seem affordable like short-term health plans, but that actually cost more if you need to use them – for example for care related to a pre-existing condition.
HealthSherpa can help you navigate these options, and also works closely with insurance brokers – another great resource who will have knowledge about your local area. If you’re a broker, look out for our next episode where Mario and George will discuss what all these topics mean for you.
Don’t feel isolated or limited – find high-quality care that fits your life and budget.
Both Mario and George recommend picking a health insurance plan that gives you the most bang for your buck – both for immediate health care needs, and by making it easier for you and your family to live a healthier life, and potentially avoid future health problems that can be expensive and life-threatening. As Mario shares, 133 million Americans suffer from chronic conditions, but as many as 1 in 3 don’t even know they are diabetic or have heart disease as early as they should.
Oscar offers many affordable plans on the ACA marketplace that come with multiple solutions and benefits that help reduce your health care costs. Every member has a dedicated Oscar team that includes dedicated care guides and a nurse. We offer telemedicine at $0, and you can talk to our board certified virtual physicians 24/7 – whether you’re social distancing at home or need to fit care into a busy work schedule. Oscar also offers 100 medications, including many drugs that are commonly-prescribed for chronic conditions and can be expensive, at just $3 each.
Insurers like Oscar also provide many services and benefits to help make it easier for you to stay on top of your medications (opens in new tab), especially during the pandemic. We’ve waived early refill limits for up to 90 days of your prescriptions, and offer free same-day delivery in New York and Houston through our partnership with Capsule (opens in new tab). Members across the U.S. can also get their prescriptions delivered quickly for free by CVS, another Oscar partner.
We know this is all a lot to think about, and it’s a stressful time for everyone – let alone if you’ve recently lost your job and are having a hard time taking care of your family financially. Oscar also offers resources to help you take care of your mental health and wellness (opens in new tab), like discounted access to Calm’s anxiety reduction and sleep tools.
Take advantage of health care at every stage of life – even if you’re healthy. Outside of the pandemic, it’s important to make health care a part of your everyday life. Stay on top of your prescriptions, screen for chronic conditions early on, and start a mental health routine – whatever you have time for, digital tools like those offered through Oscar make it easy.
Even if you haven’t lost your job or aren’t thinking about changing your health insurance right now, George says you should always remember you have options on the ACA marketplace. If you leave your job or have some sort of qualifying life event, you’re eligible to make a switch. HealthSherpa can help you compare your options, make the right choice for you and your family, and easily sign up – you can enroll now if you’ve lost or are losing your health insurance, and anyone who’s eligible can enroll during Open Enrollment, which runs from November 1 to December 15 in most states. HealthSherpa shows you if you’re eligible for government subsidies to lower the cost of health insurance—most people qualify for subsidies, and the average cost of a plan is only $48 per month, according to HealthSherpa.
About HealthSherpa and where to learn more.
HealthSherpa is the only health insurance enrollment platform that gives consumers the step-by-step education and support they need to find the best health plan for their needs and make the most of it throughout the year. They show all the same plans and prices as HealthCare.gov (opens in new tab) with a faster, easier enrollment process. HealthSherpa partners with employers, insurers, and insurance agents to enroll individuals and families in affordable health plans, and they have enrolled over 3 million people in coverage.For more information, visit http://www.healthsherpa.com (opens in new tab).
This content does not constitute medical advice and is not meant to be a substitute for professional medical advice, including diagnosis or treatment. Contact your physician with any questions you may have regarding COVID-19 or your personal health. If you are experiencing a medical emergency, dial 911 for immediate assistance.
