Why is Open Enrollment a Thing?
Before the ACA (Affordable Care Act) was passed in 2010, obtaining or signing up for individual health insurance was often a challenge. If you happen to have pre-existing health conditions, or have had a family history of certain types of diseases, insurers could deny you coverage, or charge you much higher rates than healthy people.
These practices prevented people from gaming the system by only signing up for insurance after the developed a health issue, however, the same practices also prevented people from getting insurance coverage, either because they were just denied, and other times because they couldn’t afford it.
After the ACA was passed, new protections were slayed out for consumers to ensure everyone can get health insurance, regardless of their health history. It also provided subsidies to help lower-income people pay for coverage. These new policies removed the check in place to prevent people from getting insurance only when they really needed it, and thus, Open Enrollment was born.
Under normal circumstances, Open Enrollment is your once-a-year chance to sign up for health insurance. If you miss this window, you have to wait until the next Open Enrollment period to get a new plan. By restricting signups to a limited time period, insurers are protected from people dropping in and out of plans, paying for coverage only when they have an active health issue.
What has changed for this year’s Open Enrollment?
Mostly, this year’s Open Enrollment will look just like last year’s. The signup dates are all still the same. The state and federal marketplaces still exist, and are one of several ways you can purchase a health insurance plan for 2020. Subsidies will also still be available for those that qualify for financial assistance.
Open Enrollment Dates and Information
Health Insurance plans are available for signup and purchase starting November 1st, 2019 and ends on December 15th, 2019. Your health coverage will start January 1st, 2020.
What do I need to have or to bring then you purchase Health Insurance?
You will want to have your information gathered prior to purchasing insurance. You will need:
- The names, dates of birth, and social security numbers of everyone you want to cover on your plan.
- Your estimated household income for 2020 (Pre-tax), if you think you will qualify for financial aid.
- Employer names, addresses, and phone numbers for everyone in your household.
- Immigration documents, if applicable.
Some other important things to consider are:
If you have a preferred physician, or network, as well as a lost of prescription drugs you want to make sure you can get coverage for.
The best advice given during this time, is that if you’re not sure which plan to go with, or where to start looking, remember the value in having professional help. A seasoned Insurance Broker or Agent can help you narrow down your options and explain available benefits and coverages to you so you can best decide the plan that suits you and your family best.
Can I sign up for insurance outside of Open Enrollment?
This is an important question to address. If you don’t sign up for a health insurance plan during Open Enrollment, and your life circumstances remain the same, you’ll have to wait until next November for your next chance to enroll. However, if your life circumstances do change, you may be able to get insured during a Special Enrollment Period.
Special Enrollment is the 60 day window that happens when you experience a Qualifying Life Event. A Qualifying Life Event is a significant change that impacts your status. Qualifying events would include things like:
– Losing health insurance through your job, spouse, or parent –
– Becoming ineligible for Medicaid or Medicare –
– Getting married or divorced –
– Having a baby or adopting a child –
– Moving to another city –
– Certain changes in income or legal status –
You can find the full list HERE on HealthCare.gov
Medicare Open Enrollment: October 15th – December 7th
Annual Open Enrollment: November 1st – December 15th