Why October Matters for Health Insurance
As a business owner, October marks a crucial window for preparing your company’s health insurance strategy for the upcoming year. With Open Enrollment beginning in early November, now is the time to review your current plans, evaluate new options, and ensure compliance with healthcare regulations.
Whether you’re looking to control costs, improve employee retention, or streamline benefits administration, taking action in October sets the foundation for a smoother, more strategic enrollment season. Don’t wait! Use this month to get ahead.
- Open Enrollment Preparation:
- The federal Open Enrollment Period for health insurance typically starts on November 1st.
- October is when businesses and individuals prepare—reviewing plan options, setting budgets, and communicating with employees.
- Business Budgeting:
- As the fourth quarter begins, companies finalize benefits packages for the upcoming year.
- Employers reassess their group health plans to manage costs and stay competitive in attracting/retaining talent.
- Compliance & Deadlines:
- For businesses offering group health insurance, October is a critical time to ensure compliance with ACA regulations and notify employees of their rights and options.
At Elevate Life, we can save you 30-40% cheaper than the market place. We can help you get great health insurance plans for yourself, your family, and your employees. We even have plans for 1099-contractors.