Navigator Information FAQs of the Week: Wrapping Up Open Enrollment

Open enrollment for the Inexpensive 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 regarding 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. In case you 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. In case you enroll on January 16 and pay your first month’s premium cost, your new protection would begin on February 1.

To seek out out in case your state has a distinct 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 change my plan throughout open enrollment?

Sure, you’ll be able to change plans for the 2024 profit yr anytime in the course of the open enrollment interval, however remember 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 examine your state’s Market. After open enrollment, you’ll be able to solely change plans as soon as your protection has taken impact when you have a change in circumstance qualifying you for a particular enrollment interval, except you’re an American Indian or Alaskan Native or, in most states, your revenue is beneath 150 p.c of the federal poverty degree. (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 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 corporations should settle for totally different types of cost they usually can not discriminate in opposition to customers who shouldn’t have bank cards or financial institution accounts. The insurance coverage firm should obtain and course of your cost at the very least at some point earlier than protection begins. Be sure you perceive your insurance coverage firm’s cost necessities and deadlines and comply with them so your protection begins on time. Your enrollment within the well being plan isn’t full till the insurance coverage firm receives your first premium cost.

In case you have certified to obtain a premium tax credit score and have chosen to obtain it prematurely, the federal government can pay the credit score on to your insurer and you’ll pay the rest of the premium on to the insurer.

(45 C.F.R. §§ 147.104, 155.305.)

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