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Open Enrollment Dates and Deadlines for 2020 Health Insurance

November 1, 2020

Open Enrollment starts — the first day, you can enroll, re-enroll, or change a 2021 health insurance plan via the Health Insurance Marketplace. Coverage can begin as soon as January 1, 2021.

December 15, 2020

Open enrollment for 2021 will start on November 1.

Last day to enroll in or change health insurance plans for coverage to start January 1, 2021.

Want 2020 Coverage Outside of Open Enrollment?

You can still get health coverage if you are eligible for a Special Enrollment Period due to a qualifying life event — such as getting married, losing other coverage, or having a baby.

Do Not Qualify for a Special Enrollment Period? Want Less Coverage? We Have Got You Covered.

Short Term Coverage

Apply for a short-term health insurance plan for the rest of the year, or start one on January 1. These plans are affordable than many individual ACA plans but do not cover some of the essential health benefits such as maternity coverage. These health insurance plans are the best choice if you do not currently qualify for a special enrollment period. 

Medicaid and CHIP

There is no limited enrollment period for Medicaid or the Children’s Health Insurance Program (CHIP). You can enroll at any time.

2020 Marketplace Changes

Health Insurance Exemptions For 2020

The individual mandate was annulled for 2019. Meaning, U.S. residents without health coverage in 2019 will not be subject to a tax penalty.

The new CMS regulations, titled in true Trump fashion, “Final 2019 Payment Notice Rule To Increase Access To Affordable Health Plans For Americans Suffering From High Obamacare Premiums,” could possibly save you from paying a tax penalty this year. The new rule provides exemptions to people living in counties where no health insurance companies provide coverage, or only one insurer offers coverage. 

Nevertheless, a handful of states have their own individual mandate: 

• Vermont
• Rhode Island
• New Jersey 
• Massachusetts
• District of Columbia
• California

You may be fined at tax time if you do not have health insurance in those states. 

Verification for Premium Tax Credits

The final CMS rule will also attempt to enhance the integrity of the Advanced Premium Tax Credits (APTC) program. It hopes to do this by “implementing stronger checks” that would take tougher measures to verify any person applying for Advanced Premium Tax Credits earns the income they claim. The new measure is also going to disqualify any person who fails to file taxes or reconcile previous APTCs.

Obamacare has an 80/20 rule meaning that health insurance carriers are required to have an MLR score of at least 80%

Obamacare had what is called the 80/20 rule, which meant health insurance carriers were required to have an MLR score of at least 80%. For health insurance companies providing group large group coverage (typically to 50 or more people), that minimum score rose to 85%. The new CMS rule is going to loosen the Obama era MLR regulations, helping “ease the burden” for health insurance organizations. This would enable more companies to enter the marketplace and create more competition in an attempt to drive down costs.

Health Insurance Options 

Depending on your state, you have the following options:

Renew Your Current Policy

During open enrollment, you can keep your existing health insurance as long as it is still offered. You may not have to do anything if you intend to keep what you have. But your existing plan may be changing. Watch the mail for a letter about any changes your health insurance intends to make in 2020.

Buy an Individual Plan Through a Marketplace or Directly from an Insurance Provider

You may want to enroll in the marketplace exchange in your state. That comprises if you qualify for tax subsidies to help you pay your premiums. Qualifying is based on your family size and income. Your family income must fall between 100% and 400% of the federal poverty level (FPL) to be eligible.

Make Changes to Your Employer-Based Group Health Insurance

If you obtain your health insurance through your employer, the open enrollment period for the government-run marketplaces and Affordable Care Act plans will not affect you.

You require to sign up for coverage during your employer’s open enrollment period. Some employers will automatically renew the health insurance you had this year. Others necessitate that you sign up each year during its open enrollment. Employers usually change health insurance providers, so ensure that you review your offerings.

Resources and References:

• Children’s Health Insurance Program
• Affordable Care Act Plans