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What is Open Enrollment for Health Insurance

Open enrollment is the time period each year when you are allowed to start, stop, or change your health insurance plan. Usually, you sign up around the end of one calendar year for coverage that lasts the next full year. Here’s what to know regarding your open enrollment for health insurance.

Open Enrollment for Federal and State Marketplace Health Insurance Plans

Open enrollment window for private, individual health plans lasts for 45 days.

Every year the open enrollment window for private, individual health plans lasts 45 days: November. 1 to December. 15.

You can buy individual health plans in four ways:

• On the federal marketplace or a state exchange through Healthcare.gov.
• On the mobile, by calling the marketplace call center at 1-800-318-2596.
• Directly on a health insurance company’s website.
• Through a local health insurance broker.

The only way to get an individual health policy outside of open enrollment is to qualify for a special enrollment period.

The benefit of using Healthcare.gov is that tax credits to lower your monthly premiums are available only on this federal marketplace or a state exchange.

If your income is too high and you won’t be eligible for tax credits, or if you have a chronic condition and the marketplace plans do not cover your needs, you may opt to buy elsewhere for a health plan. A health insurance broker or online health insurance seller may help you find a better plan for you than those offered in a state or federal marketplace.

Open Enrollment for Employer-Sponsored Health Insurance

If your health insurance comes from an employer, your open enrollment period might change every year. Timing can depend on various factors, but choosing is generally during the fall.

You can buy a different plan from one your employer provides if you wish. But if you decline your employer’s insurance, be cognizant that:

• You cannot get premium tax credits for a marketplace plan unless your employer’s health insurance plans fail to meet minimum coverage standards and affordability. Because employers typically pick up part of the bill, you could end up paying a lot more.
• If you then fail to purchase a plan during the open enrollment period for individual plans, you will be uninsured and, in some states, may have to pay the penalty. (There is no longer a federal penalty for not having health insurance.)

Medicare Open Enrollment

Medicare open enrollment is October 15 to December 7 every year.

Medicare open enrollment is October 15 to December 7 every year. Medicare beneficiaries also have other time periods throughout the year when they can change their health insurance plans. And unlike other forms of insurance, Medicare has additional “disenrollment” periods.

Important Dates for Medicare

Oct. 15 to Dec. 7– Open enrollment

Jan. 1 to Feb. 14– Medicare Advantage disenrollment period, when you can change from Medicare Advantage to Original Medicare.

Jan. 1 to March 31-Medicare Parts A and B general enrollment. You can enroll in Parts A and B during this time if you did not sign up when you were first qualified.

Resources and References:

• Medicare Parts A and B
• Benefit of Using Healthcare.gov