Navigator Information FAQs of the Week: Wrapping Up Open Enrollment

Open enrollment for the Reasonably priced Care Act’s Marketplaces is coming to an in depth. In most states, January 16 is the final day to join a 2024 plan (absent particular circumstances). This week, we’re highlighting ceaselessly requested questions (FAQs) from CHIR’s Navigator Useful resource Information in regards to the finish of open enrollment.

If I purchase a plan throughout open enrollment, when does my protection begin?

Open enrollment is from November 1, 2023 to January 16, 2024 in most states. If you happen to enroll by December 15, 2023, and in the event you make your first premium cost by the due date specified by your plan, your new protection will begin on January 1, 2024. If you happen to enroll on January 16 and pay your first month’s premium cost, your new protection would begin on February 1.

To search out out in case your state has a unique open enrollment interval, go to our state truth sheets. (45 C.F.R. § 155.410.)

What if I join a plan and alter my thoughts? Can I swap my plan throughout open enrollment?

Sure, you may change plans for the 2024 profit 12 months anytime through the open enrollment interval, however bear in mind that, for the federally facilitated Market, that interval lasts solely from November 1, 2023 to January 16, 2024 for protection beginning in 2024. Some states have longer open enrollment durations, so verify your state’s Market. After open enrollment, you may solely change plans as soon as your protection has taken impact if in case you have a change in circumstance qualifying you for a particular enrollment interval, except you might be an American Indian or Alaskan Native or, in most states, your earnings is under 150 p.c of the federal poverty stage. (45 C.F.R. § 155.420.)

I’ve picked the plan I would like. Now do I ship my premium to the Market?

No, you’ll make your premium funds on to the medical health insurance firm. When you’ve chosen your plan, the Market will direct you to your insurance coverage firm’s web site to make the preliminary premium cost. Insurance coverage firms should settle for totally different types of cost they usually can’t discriminate in opposition to customers who should not have bank cards or financial institution accounts. The insurance coverage firm should obtain and course of your cost at the least at some point earlier than protection begins. Ensure you perceive your insurance coverage firm’s cost necessities and deadlines and observe them so your protection begins on time. Your enrollment within the well being plan shouldn’t be full till the insurance coverage firm receives your first premium cost.

When you’ve got certified to obtain a premium tax credit score and have chosen to obtain it prematurely, the federal government pays the credit score on to your insurer and you’ll pay the rest of the premium on to the insurer.

(45 C.F.R. §§ 147.104155.305.)

Customers in most states have till January 16 to enroll in a Market plan for 2024 (the Marketplaces in some states have set a unique deadline). Try our Navigator Useful resource Information for extra FAQs, state-specific data, and different useful sources.


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