SIOUX FALLS, S.D. – With 11,000 residents of South Dakota facing possible loss of insurance by the end of this year, the beginning of open enrollment this Saturday may feel overwhelming. However, there are ways to navigate this challenge.
As open enrollment kicks off, many are uncertain about how to choose a healthcare plan. An expert advises not to delay the decision-making process.
“The enhanced premium tax credits are a major concern for consumers starting this weekend,” said Kate Serenbetz from Avera Health Plans.
For years, many South Dakotans have relied on these enhanced tax credits to help pay for their insurance. If these credits expire on January 1st, insurance rates could rise by an average of 18%.
Despite these changes, Serenbetz emphasizes that individuals, including those affected in South Dakota, will have options.
“We’re here to assist them in understanding these changes and finding plans that meet both their healthcare and financial needs,” she stated.
Congress is currently stuck on whether to reopen the government without extending these tax credits beyond 2025. While there is time to explore different plans, securing coverage shouldn’t be left as an afterthought.
“It’s important to figure out what you and your family need sooner rather than later, regardless of the status of the tax credits. Start gathering information now,” Serenbetz advised.
She also expressed hope for the tax credits to be extended indefinitely, which would help families who earn above the federal poverty level but struggle with rising healthcare costs.
Another vital tip from Serenbetz is to consult with an insurance agent when searching for healthcare plans. Despite the ongoing confusion, agents are dedicated to helping families find the best coverage available.
