Open enrollment is more than a checkbox, it’s a strategic moment for independent real estate agents to secure health coverage that aligns with their income, lifestyle, and business goals. In New York, where healthcare costs and living expenses run high, choosing the wrong plan, or missing the window altogether, can lead to financial strain and coverage gaps.
Whether you’re a seasoned agent or just starting out, here are the most common open enrollment mistakes to avoid, and how to make smarter choices.
- Waiting Until the Last Minute
Open enrollment typically runs from November 1 to January 15 in New York. Agents juggling listings, closings, and client meetings often delay reviewing their options. But rushing through enrollment can lead to missed opportunities, overlooked benefits, or defaulting into a plan that no longer fits.
Tip: Set calendar reminders and block out time to compare plans early. Use tools like the New York State of Health Marketplace to preview options and subsidy estimates.
- Assuming Last Year’s Plan Still Works
Your income, healthcare needs, and provider preferences may have changed, but many agents auto-renew without reviewing updates to premiums, deductibles, or network coverage.
Tip: Reassess your expected income and medical usage. If you’ve had a strong year, you may no longer qualify for subsidies. If your income dipped, you might unlock new savings.
- Ignoring Subsidy Eligibility
Subsidies can dramatically reduce monthly premiums, but they’re based on projected annual income. Agents with fluctuating commissions often miscalculate or forget to update income mid-year, leading to surprise tax bills or missed savings.
Tip: Estimate conservatively and adjust if your income changes. Use the Marketplace’s income calculator or consult a CPA familiar with real estate income cycles.
- Choosing the Wrong Deductible Structure
Plans with lower premiums often come with higher deductibles. If you don’t have savings set aside, a single medical event could derail your finances.
Tip: Consider pairing a high-deductible plan with a Health Savings Account (HSA). HSAs offer triple tax benefits and let you save during busy months to cover costs during slower seasons.
- Overlooking Provider Networks
Agents in New York often travel across boroughs and counties. A narrow network may not cover your preferred doctors or facilities, especially if you live in one area and work in another.
Tip: Choose a plan with a broad PPO network if flexibility is important. Confirm that your providers are in-network before enrolling.
- Not Exploring Solo or Freelance-Focused Plans
Marketplace plans aren’t your only option. Specialized plans for independent contractors, like those offered by Solo Health Collective, may offer tiered deductibles, PPO access, and flexible enrollment outside the traditional window.
Tip: Compare Solo-style plans alongside Marketplace options. For RLTY co agents, Solo Health is a recommended partner offering tailored coverage for 1099 professionals.
Final Thoughts
Open enrollment is your annual opportunity to protect your health and financial stability. Avoiding these common mistakes can save you thousands and ensure you’re covered when it matters most.
For New York–based agents, the stakes are even higher. Take the time to compare plans, estimate income accurately, and choose coverage that supports your business and lifestyle. Whether you opt for a Marketplace plan, a Solo Health option, or a hybrid strategy, make sure your choice reflects the realities of commission-based work.
For more plans and real estate agent resources, visit www.rltyco.com/health/
