Every year, those living in the United States are limited to a window of opportunity to obtain health insurance coverage for the upcoming year. This window is called the Open Enrollment Period (OEP).
When is the Open Enrollment Period (OEP)?
The Open Enrollment Period officially commenced on November 1, 2022. The chance to receive an insurance start date of January 1, 2023 start date is coming to an end. The deadline is midnight on December 15, 2022. After that, you have until the extended date of January 15, 2023, to enroll in a plan for next year but will not have a January 1, 2023 start date. Any plans purchased from January 1 to January 15 will have a start date of February 1, 2023.
After January 15th, there will be no open enrollment period, and obtaining coverage is only limited to special circumstances (ex. losing coverage from an employer). Typically, Open Enrollment was only from November 1 to December 15 each year but was extended until January 15 for 2023 coverage.
Open Enrollment is crucial for obtaining health insurance coverage from the Marketplace. If you do not act during this period, you cannot obtain coverage from the Marketplace.
For those who were previously enrolled in a Marketplace plan, inaction means an automatic re-enrollment for 2023 in the same plan previously held. The plan can then be reviewed by January 15, 2023, to determine coverage for 2023.
What is the Marketplace?
The Health Insurance Marketplace is a government-sponsored insurance platform that allows customers to obtain insurance coverage from a variety of carriers throughout the United States.
Depending on a customer’s income level, many plans are subsidized, meaning there is a chance for increased savings from the Marketplace. Receiving a subsidy can greatly lower the monthly premium paid each month, while still ensuring a plan tailored to your needs is met.
Marketplace plans are purchased on Healthcare.gov. All plans are listed and detailed there. Plans typically depend on customer location. Plans and carriers do vary by state. States also have their own marketplaces. One such example is Connect For Health Colorado.
During last year’s Open Enrollment Period, a record number 14.5 million people obtained insurance plans from the Marketplace.
With rising costs, insurance is essential in the current environment. Insurance could save you and your family thousands of dollars in medical costs.
Do you want health insurance coverage for 2023 to ensure your medical and financial well-being in the upcoming year? If so, don’t wait, get coverage as soon as possible.
What is the best way to enroll?
The best way to enroll is through the use of a licensed health insurance agent. Use of an agent is free of charge. The agent will select plans based on budget and medical needs. Quotes will be provided and the agent will then enroll in the chosen plan. This will ensure the right plan is chosen and the insurance is legitimate, and not part of a scam.
Please schedule your appointment now to meet with Katherine Phillips, a licensed HealthMarkets agent, and do not miss out on the window of opportunity to obtain health insurance for 2023. Open Enrollment is ending soon!