The Health Insurance Marketplace: Open Enrollment Begins!

It’s time to purchase health insurance coverage for 2020. The annual open enrollment period for the Health Insurance Marketplace starts on November 1, 2019 and ends on December 15, 2019. If you want to purchase private health insurance that meets ACA requirements for minimum essential coverage, this might be your only chance to get coverage for 2020.

Take Advantage of Open Enrollment

If you don’t have health insurance through another source – for example, from a job or through Medicare – the Marketplace open enrollment is an important opportunity to purchase a health insurance plan for yourself and your family. You can also purchase a dental insurance plan when you purchase your health insurance plan.

Most states use the federal Health Insurance Marketplace at HealthCare.gov. However, some states use their own system. If you live in California, Colorado, Connecticut, Idaho, Maryland, Massachusetts, Minnesota, Nevada, New York, Rhode Island, Vermont, Washington of the District of Columbia, you will use your state’s healthcare exchange to enroll in a health insurance plan for coverage in 2020.

Open Enrollment Extensions

The open enrollment period is scheduled to end on December 15, 2019. To ensure that you have coverage, you should complete your application before this date. However, in previous years, some states have issued extensions.

To avoid problems, make sure you are meeting the deadline. Also, beware that if you use an extension in your state to apply for coverage after December 15, the start of your coverage may be delayed. This could lead to a gap in your coverage.

When in doubt, assume your deadline is December 15.

After Open Enrollment

The plan that you select during this open enrollment period will go into effect on January 1, 2020. In order to receive coverage, you will need to pay your premium. You will receive information from the insurance company, including your insurance ID card, which you will use when you see a provider or purchase prescriptions.

If you miss the open enrollment period, you may still be able to enroll if you qualify for a special enrollment period. Special enrollment periods are based on life events, such as moving, getting married, or losing a job. If you qualify for a special enrollment period, you will typically have 60 days to enroll in a plan. Additionally, you can see if you qualify to enroll in Medicaid at any time.

If you do not qualify for a special enrollment period, you may still be able to enroll in a health insurance plan outside of the Health Insurance Marketplace, although you won’t qualify for premium tax credits and the plan may not meet the ACA requirements for minimum essential coverage. In many states, short-term health insurance plans can provide coverage that lasts for less than a year, and this can be a way to fill in a coverage gap. You can also enroll in other types of plans, such as dental insurance, at any time.

Get Help

Health insurance can be complicated. Whether you want to enroll in a Marketplace plan or a different type of insurance plan, a licensed insurance agent can help you. Request a quote from Insurance Line One to get started.

Sources
  • https://www.healthcare.gov/

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