It’s that time of year again: Open Enrollment for health insurance!
Open Enrollment begins every year on November 1st and allows you to apply for a new health insurance plan or make changes to your existing plan. Let’s talk about how to get the right insurance policy for you this year. As always, our Independent Agents at McKnight & McKnight Insurance are happy to help make this process simple, fast, and friendly!
What You Can Expect from a Qualifying Healthcare Plan
Open Enrollment runs from Sunday, November 1 through Tuesday, December 15. Coverage begins on January 1.
Under current healthcare law here’s is what you can expect from qualifying Affordable Care Act (otherwise known as “ACA,” “Marketplace” or “Obamacare”) plans:
- Young people can stay on their parent’s insurance plans until they are 26.
- You can’t be denied health coverage or dropped from your insurance due to a pre-existing condition.
- You will not be charged more for insurance based on your gender.
- Preventative visits are included at no cost.
- Most plans include essential health benefits such as ambulatory services, ER services, hospitalization, maternity, mental health care, prescription coverage, and more!
- No annual dollar limits on coverage.
- Cost assistance available to families, individuals, and small businesses.
Don’t wait! Our schedule fills up very quickly during Open Enrollment. CLICK HERE to schedule your Open Enrollment phone appointment.
Am I Eligible For Open Enrollment?
If you are a United States citizen, national, or legal resident of the U.S. and currently reside in one of the 50 states, you are qualified for Open Enrollment. This also includes anyone who holds a green card, are refugees, asylees, and those with non-immigrant status who hold a valid work visa.
The exceptions? Anyone who is already enrolled in Medicare at the time of Open Enrollment and those who are incarcerated are not eligible. If you are offered an ACA compliant health care plan through your employer and opt-out, you might not be eligible for any subsidies on your health insurance plan and will be required to pay full price for your monthly plan. If you have access through your employer, it may be wise to opt-in to their plan if it makes sense for you/your family and is affordable for your monthly budget.
During the Open Enrollment Period, anyone can enroll. Open Enrollment is short – don’t wait! The rest of the year is considered a Special Enrollment Period and you must qualify to apply for a health plan with a Qualifying Life Event (QLE) such as losing your health coverage from work, having a baby, or getting married.
Remember, if you have any questions at all about your eligibility during the Open Enrollment Period, give us a call at McKnight & McKnight Insurance Solutions. We are ready to help! In a short call, we can help you check health insurance off your list. Call us today!
When Does My Open Enrollment Coverage Begin?
If you have enrolled during the Open Enrollment Period, your insurance coverage will begin January 1st, and will continue until December 31st provided that premium payments are made in a timely manner. You can cancel your plan at any time. Be careful–if you cancel and need to reapply for ACA coverage, you will need to Qualifying Life Event to do so. Otherwise, you’ll have to wait until next year’s Open Enrollment to reapply.
I’m Ready to Enroll, What Do I Need?
Before beginning your application, we will need some basic information to get started including:
- Household size (including any dependents you claim on your tax return)
- Birth dates, addresses, SSNs for all that live in your home
- The best estimate of your annual income
- Information about how you file your taxes
- Sources of income
- Policy numbers from any current health plans
What if I Have a Plan From Last Year?
If you had an Affordable Care Act health care plan this year, you will be automatically re-enrolled in that same plan for the following year (granted it is still available). If it is not available, an equivalent plan will be chosen. This might not be the best option for you, especially because plan details can change from year–to–year even if you have the ‘same’ plan. To keep the same prescription coverage, provider networks, and benefits, you might want to speak to a licensed agent to ensure that you are adequately covered.
Did your income increase or decrease within the last year?
If your income has changed, you’ll need to be sure to schedule a phone appointment with us so we can help you update this information with the Marketplace.
Ready to Apply for Health Coverage?
Need help finding health insurance during Open Enrollment? Our team at McKnight & McKnight Insurance will help you find the perfect plan for your unique situation. We’re keeping the promise of affordable coverage with simple, fast, and friendly insurance solutions.