Open Enrollment Is Less Than a Week Away. Here’s What You Need to Know

Open Enrollment starts in less than a week. Here's what you need to know.

Yes, debates over health insurance and the expanded Advanced Premium Tax Credits are at the center of it.

But life — and Open Enrollment — must move forward.

In just a few days, the Annual Open Enrollment Period begins — the one time each year when you can enroll in coverage if you don’t already have a plan, or make changes to the one you do. It’s the only window to do so without a Qualifying Life Event.

Here’s What You Need to Know:

Health insurance rates are experiencing a historic high. 

According to KFF, the average family health insurance premium is now $26,993. ICHRAs are not immune to these price increases, but we’re still seeing employers save hundreds of thousands of dollars by switching from traditional group plans. We’re also seeing employees become more active shoppers, comparing options and tailoring coverage to fit their families’ needs.

ICHRA’s superpower is its flexibility. Employees have options in how they manage the costs. 

Shopping smart matters more than ever. You don’t have to accept all of the cost passed by your employer. Employees can lower costs by:

• Switch carriers or metal tiers
  
  
• Mix coverage across family members (for example, one spouse on Gold and another on Silver)
  
  
• Reassess networks and total cost of care, not just premiums

Watch for New ICHRA-Specific Plan Designs

Carriers are quietly introducing innovative products tailored to ICHRA participants, aiming to make the individual market more appealing and customizable for employers and employees alike. Key developments include:

• More Platinum-Level Options: Designed for higher-spending employees who want richer benefits and minimal out-of-pocket costs.
  
  
• Expanded PPO Networks: Both regional and national PPO networks are being optimized for ICHRA participants, giving enrollees greater provider access and portability across states.
  
  
• Lower Costs: These products are often offered off-exchange and priced well below their on-exchange counterparts—making them an attractive option for cost-conscious employers.

Open Enrollment officially begins November 1 and runs through December 15. For renewal clients, the ICHRA shopping window is November 3–23.

This year will be defined by a market correction, the need for smarter, savvier shopping, and a new generation of ICHRA-friendly plan designs entering the market.

Employers who move early can lock in predictable budgets.
Employees who shop smart can find better value and more choice than ever before.

This Open Enrollment, make sure your team knows their options — and takes full advantage of them.