During open enrollment, you may be able to choose healthcare to meet the needs of you and your family. A healthcare plan helps cover the costs of necessary medical care. It can reduce the amount of money you may spend out of pocket when you visit a doctor, need hospital care, purchase prescriptions or need emergency medical care.
Each health plan provides different coverage, so there’s no one-size-fits-all answer to questions about which healthcare coverage is best. Contact C.J. Noel Insurance Services today to learn more about how to navigate open enrollment when evaluating your healthcare options.
What Is Open Enrollment?
Open enrollment is a period of time when people can enroll in an insurance plan for the next calendar year, regardless of personal circumstances. During a health plan’s open enrollment period, anyone eligible to sign up for the plan can do so.
Your open enrollment period may differ, depending on the type of healthcare you are considering.
- Medicare open enrollment starts October 7 and ends December 7 each year. During Medicare’s open enrollment, people with Medicare coverage can join, switch or drop a Medicare Health Plan or Medicare Advantage Plan (Part C).
- Marketplace plan open enrollment starts November 1 and ends January 15 each year. During this time, you can enroll in, re-enroll in or change a health plan through the Health Insurance Marketplace. If you sign up for a plan before December 15, you can receive healthcare coverage starting January 1.
- Employer-provided healthcare varies depending on your employer’s rules. During an employer’s open enrollment period, eligible employees can sign up for coverage or change to a different health plan offered by the employer.
What Is a Special Enrollment Period?
Each health plan type has rules about when you may change, add or drop your coverage outside of an open enrollment period. These special enrollment periods (SEPs) may be triggered by various life events.
The following life changes typically trigger a Marketplace SEP:
- Legal separation or divorce leading to loss of health insurance
- Death of someone on a marketplace plan resulting in loss of health insurance
Depending on the type of Marketplace SEP, you may have 60 days before and following the event to enroll in a healthcare plan.
Your employer may provide similar criteria for a SEP, but it’s crucial to contact them to learn when you can participate in an SEP.
Medicare prescription drug coverage and Medicare Advantage plans also have SEPs triggered by numerous events. Your agent can help you determine whether you are eligible for a Medicare SEP.
How to Navigate Open Enrollment
Since everyone’s situation differs, working closely with an experienced insurance agent is crucial when choosing a health plan. Contact C.J. Noel Insurance Services in Naples, Florida, to get help understanding your options so you can make the best choices about your healthcare coverage.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.