Other Times To Enroll In Health Insurance
If you don’t sign up for health insurance during open enrollment, theres a chance you can’t enroll or change your health insurance plan until the next open enrollment period. Oof.
But dont panic yet. Theres an exception to every rule, including open enrollment! If you experience a qualifying life event, you might be eligible for whats called a special enrollment period .
But whats a qualifying life event? Think of it as an extenuating circumstance.
Heres a list of events that the health insurance industry considers qualifying life events:
- Maybe you met the love of your life and got married? Any change in your household qualifies as a life event. It can be a marriage, a divorce, a birth, an adoption, or sadly, a death.
- Did you lose your previous health insurance? There are a lot of events that qualify for a SEP, including if you or anyone in your household lost qualifying health coverage due to job loss, turning 26 years old, cancellation by a private carrier, or loss of eligibility for government-funded coverage.
- If you finally made that long-awaited move to a place with more sunshine, thats great news! When you have a change in residency, including moving to a new country or zip code, you officially qualify for a SEP.
Depending on your plan , you have between 30 and 60 days to enroll or change your health insurance policy with your qualifying life event information.1
How To Sign Up During Open Enrollment
It can be confusing to know how to get health insurance. During the open enrollment period, you can enroll in a health insurance plan through the Marketplace. The Marketplace is a service that can help you find, compare and enroll in affordable health insurance plans.
To enroll in a health plan using the Marketplace, you must:
- Live in the United States
- Be either a U.S. citizen or national
You are not eligible for a health insurance plan through the Marketplace if you:
- Are incarcerated
- Have Medicare coverage
Most people use the Marketplace to find affordable health insurance. Its operated by the federal government for most states, although other states run their own Marketplace.
You can enroll in a plan during open enrollment in a few different ways:
- Online on either the federal or your state
- Mailing in a paper application
No matter which way you choose to enroll, you must submit information about your household and income. This information will be used to determine the types of plans you are eligible for. You may be eligible for premium tax credits and other savings to make your plan more affordable. You may also qualify for coverage through Medicaid and/or the Childrens Health Insurance Program in your state.
If you own a small business, you may be eligible for the Small Business Health Options Program . This program can allow you to offer affordable health insurance coverage to your employees.
What Is Open Enrollment For Health Insurance
Open enrollment is an annual time when you can start, stop or change your health insurance. Employers typically have open enrollment annually for health insurance and other benefits. If youre buying it on your own, then your states Health Insurance Marketplace will also have an annual open enrollment.
Recommended Reading: How To Purchase Private Health Insurance
How To Select A Health Plan
If you’re buying a health plan through the ACA marketplace, you have a choice of four metal levels and a fifth, limited option:
The metal tiers each have different premiums and out-of-pocket costs. Bronze plans have the highest deductibles and copays, while Platinum plans have the lowest. However, the premiums for the Bronze plans are the lowest, while Platinum plans cost the most each month.
The most popular plans in the individual market are Silver and Bronze. According to a report by eHealth, the percentage of people who choose each level is:
- Bronze: 36%
- Gold: 17%
- Platinum: 1%
When deciding what plan is best for you, think about your health and your family’s health and financial situation.
Do you see a doctor or other health care provider regularly to help you manage a chronic disease or condition? Do you take costly medications? You may want a health plan that has lower copays and deductibles if you’re a frequent user of services.
If you’re young and healthy and use few medical services, you may want a plan with lower premiums, such as a Bronze plan. Of course, you never know what can happen. And you can’t change your plan outside open enrollment just because something happened to you.
Look at the out-of-pocket maximums for the plans you’re considering.
Once you answer these questions, you can compare plans and see what’s best for you.
You will also have to decide what type of plan you want in terms of provider access.
More Open Enrollment Opportunities
Most employers allow you to sign up for or change other job-based benefits during open enrollment. Generally, youre only allowed to make these changes during open enrollment. For example, you may be able to:
- Set up a flexible spending account or health savings account .
- Sign up for, or adjust the amount of, life insurance, disability insurance, vision insurance, dental insurance, legal insurance, supplemental insurance benefits, etc.
Also Known As: annual enrollment, annual benefits enrollment
Recommended Reading: Does Short Term Health Insurance Cover Pre Existing Conditions
Open Enrollment Dates For 2022 Health Insurance Coverage
In most states, the 2022 Open Enrollment Period begins November 1, 2021, and ends December 15, 2021. The federal government has declared a Special Enrollment Period that re-opens the Affordable Care Act marketplace through August 15, 2021.
The chart below shows the SEP and OEP dates for the states that use the federal ACA exchange. Coverage begins the first day of the month after you sign up. For example, if you signed up by February 15, your coverage would have been effective March 1.
How To Maximize Open Enrollment Periods
There are a number of ways you can make the most of open enrollment. First and foremost, know when youre eligible. Your open enrollment period depends on how and where you purchase insurance, says Koleen Cavanaugh, vice president of marketing at Independence Blue Cross in Philadelphia.
Then, take the time to assess your health needs and lifestyle. To do so, Kyu Rhee, M.D., Aetnas senior vice president and chief medical officer, recommends answering the following questions:
- Do you have a primary care physician or use any medical specialists?
- What medications do you take?
- What diagnostic tests, such as blood tests or imaging, do you need?
- Are you due for key preventive screenings like vaccinations and cancer screenings?
- Are you managing one or multiple chronic conditions?
- Do you anticipate any surgeries or procedures?
Once you home in on what youre looking for, shop around for coverage. Dylan H. Roby, associate professor of Health, Society and Behavior at the University of California, Irvines Program in Public Health, recommends looking for a plan that meets your needs for the upcoming yearregarding monthly premium prices and in terms of health needs.
You can also speak with a local trusted broker or licensed insurance advisor to help you learn about the different plans available in your area. Many insurers also offer local seminars that offer insight on plans and allow for questions, says Shukla.
Get Help During Open Enrollment Season
Now that youre up to speed on open enrollment, the next step is to choose the right health insurance plan for you and your family.
If you dont have a plan through your employer, your smartest move is to contact an independent insurance agent, like an Endorsed Local Provider . Independent agents arent captive to one company, so they can shop around to find the right coverage for you at the best price. Theyre also experts in answering questions about health insurance, so you can feel confident that you understand what youre signing up for.
About the author
Ramsey Solutions has been committed to helping people regain control of their money, build wealth, grow their leadership skills, and enhance their lives through personal development since 1992. Millions of people have used our financial advice through 22 books published by Ramsey Press, as well as two syndicated radio shows and 10 podcasts, which have over 17 million weekly listeners.Learn More.
When Is The 2022 Open Enrollment Period
In general, open enrollment for individual plans, whether theyre purchased on or off the exchange, runs for the 10-week period from November 1 to January 15 of the next year. Some states have longer open-enrollment schedules.
- Change from Medicare Part A and Part B to a Medicare Advantage plan.
- Change from Medicare Advantage plan back to Original Medicare.
- Switch from one Medicare Advantage plan to another.
- Make changes to your existing Medicare drug plan, including adding or dropping drug coverage.
- Join a Medicare prescription drug plan, switch from one Medicare drug plan to another, or drop your drug coverage completely.
If youre already in a Medicare Advantage plan, theres an additional OEP that runs from January 1 to March 31. During these three months you can decide to switch to a different Medicare Advantage plan or to Original Medicare. Youll also be able to join a Medicare prescription drug plan.
If you get your health insurance through your job, your employer sets the OEP. It often takes place in the fall, with new coverage starting at the beginning of the year. But your company may choose a different period. While theres no requirement on how long the enrollment period has to last, its generally at least two to four weeks.
Read Also: Is Pivot Health Insurance Good
Everything You Need To Know For Open Enrollment Health Insurance
Youre living in the US and youre trying to get a handle on health insurance. Youre hearing a lot of terms being thrown around, like ACA, COBRA, and CHIP. Youre getting confused and frustrated.
Now take a deep breath. While all these terms are important to know about, the first and most crucial concept with which you should become familiar is that of open enrollment. The reason is simple: its during this time that you can actually access many types of health insurance.
When Is Open Enrollment If I Get Health Insurance Through My Work
If you get health insurance through work, your employer sets the open enrollment period. Its typically in the fall so that your benefits can start at the beginning of the calendar year. Choosing a health care plan for the year ahead is an important decision during open enrollment. Take some time to explore your options to help you decide what coverage is best for you before you enroll.
Don’t Miss: How To Get Health Insurance In Rhode Island
How Do I Qualify For A Special Enrollment Period
You can qualify for a special Enrollment Period, for example, losing health coverage, getting married or divorced, having a baby, or adopting a child, moving to a new area that provides different plans, or even when you become a U.S citizen.
Other examples include facing a change concerning your income or household status, or being no longer covered on family members policy because you turned 26 years old.
Special Enrollment Is The Exception To Open Enrollment
Insurance plans that use an open enrollment system also have an exception that allows you to enroll outside of open enrollment under extenuating circumstances known as qualifying life events. When you experience a qualifying event, you’re eligible for a special enrollment period that allows you to sign up for health insurance outside of open enrollment. Qualifying life events encompass a variety of circumstances, including:
- involuntarily losing other health insurance coverage
- moving out of your old plan’s service area, or to an area where different health plans are available.
- getting married
- having a new baby or adopting a child
You won’t be eligible for a special enrollment period if you lost your other health insurance because you didn’t pay the monthly premiums though, or if you voluntarily canceled your prior coverage.
Note that although qualifying events and special enrollment periods in the individual market are similar to those that have long existed for employer-sponsored plans, they are not identical. Healthinsurance.org has a guide that pertains specifically to special enrollment periods in the individual market, on and off-exchange. And the Society for Human Resource Management has a good summary of qualifying events that trigger special enrollment periods for employer-sponsored health insurance.
Don’t Miss: What Is First Health Insurance
When Is The Aca Open Enrollment Period For 2023 Coverage
ACA open enrollment is over for 2022 health insurance. You can still apply for 2022 ACA health insurance if you qualify for a Special Enrollment Period due to a life event such as having a baby or getting married. You can apply for ACA coverage any time if you qualify for Medicaid or CHIP.
Based on previous years and barring any changes to current federal policy, ACA open enrollment for 2023 coverage will most likely take place from November 1, 2022, to January 15, 2022, in the following states:
How To Compare Health Insurance On The Marketplace
If youre buying a plan from your states Health Insurance Marketplace, theres a lot to consider. First, be sure to enter your financial information accurately, as this is what determines your eligibility for tax credits. These credits help cover the premiums of your health insurance, which lowers your costs. Here are other factors to consider:
You May Like: Is It Legal To Marry For Health Insurance
Can I Get A Subsidy To Help Cover The Cost Of My Health Plan
Congress has yet to decide how the subsidy program will work in 2023. If something isnt done, its expected that 13 million Americans who get insurance through the Affordable Care Act marketplace will see their insurance rates rise significantly and 1 million Americans could see their health insurance costs double. But this is a worst-case scenario.
Youre Our First Priorityevery Time
We believe everyone should be able to make financial decisions with confidence. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free.
So how do we make money? Our partners compensate us. This may influence which products we review and write about , but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services.Here is a list of our partners.
Recommended Reading: How To Meet A Deductible With Health Insurance
How Does The Open Enrollment Period Impact Me When I’m Already Insured
Even if you are already insured and happy with your plan, there are a few things to pay attention to during open enrollment season. During open enrollment season, make sure you note how much your premium will change in the coming year and if this is still feasible for you and your family.
Additionally, some benefits of your plan or coverage details may change in the coming year. Ensure that you are aware of these changes before the open enrollment period ends, as most states will not let you make changes to your plan after mid-December.
Dates And Deadlines For The 2023 Open Enrollment Season Under The Affordable Care Act
ObamaCares Open Enrollment period for 2023 health plans starts November 1, 2022, and ends December 15, 2022, in most states. Plans sold during Open Enrollment start as early as January 1, 2023.
Open enrollment is the only time of year you can enroll in a health plan, switch plans, or re-enroll in your current plan in the individual and family market. If you miss open enrollment, your only options are limited to special enrollment, short-term health insurance, employer-based coverage, Medicare, Medicaid, and CHIP.
Get covered at Healthcare.Gov or through a marketplace-approved broker like the ones featured on our site.
NOTE: Open enrollment starts November 1 and ends December 15 each year unless otherwise noted .
You May Like: How Do I Find Out My Health Insurance Deductible
What If You Don’t Want Health Insurance
If you don’t want to sign up for health insurance during the open enrollment period, you will have to wait an entire year if you change your mind. The exception is if you have a qualifying life event that would spark a special enrollment period.
Something important to remember: You no longer get penalized at tax time for not having health insurance. Congress eliminated that mandate’s tax penalty.
However, a handful of states have mandates:
You may be fined at tax time if you don’t have health insurance in those states.
Open Enrollment For 202: What You Need To Know
Open enrollment for plans through the Affordable Care Act runs between Nov. 1 and Jan. 15 in most states. During that time, you can choose a new health plan or make changes to your current one.
Open enrollment is a time to make changes to your health insurance plan or to buy a different one.
When open enrollment is for you depends on how you get insurance. Most people get their insurance through an employer, and open enrollment for businesses varies. The company makes that decision. Check with your human resources department to find out when your company holds open enrollment.
If you dont get health insurance through an employer, there are a few dates to know:
- Medicare recipients can make changes between Oct. 15 and Dec. 7 or during a more limited open enrollment from Jan. 1 to March 31.
- Most people who get individual insurance through the Affordable Care Act exchanges have between Nov. 1 and Jan. 15 to enroll. A handful of states have their own open enrollment period.
Read on to learn everything you need to know to enroll in a 2023 health insurance plan.
You May Like: Can Grandparents Add Grandchildren To Health Insurance