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7 Sep

Obamacare Exclusive Enrollment / What You Need to Know

Obamacare Exclusive Enrollment

Obamacare Exclusive Enrollment

Every American should have a working health insurance plan that takes care of their basic health needs. This at least is the vision of Obamacare. But due to the complexities involved, you cannot simply buy a coverage at any time of the year. There are dedicated Obamacare exclusive enrollment periods. You can sign up for coverage on the health insurance marketplace during this period.

Obamacare exclusive enrollment- open enrollment period

The open enrollment period is when you can sign up for affordable health insurance. You can also change your plans or renew your coverage during this period. The open enrollment for 2019 is between November 1 and December 15. Some states have extended open enrollment periods. You can check the healthcare.gov website to know the Obamacare exclusive enrollment for your state.

Obamacare exclusive enrollment- open enrollment period

If you miss the open enrollment period, you can still sign up for health insurance. However, you must qualify for the Special Enrollment period before you can register. Events such as marriage or divorce, moving, birth or adoption of a child, etc. make you eligible for the special enrollment period. These events are are ‘qualifying life events’. You should visit the health insurance marketplace and buy a coverage within 60 days of the event. You may have to present documents to support the life event in some situations.

What if I miss the Obamacare exclusive enrollment?

If you miss both the open and special enrollment periods, you still have a few coverage options. You may choose to buy a short-term health insurance plan. Such plans serve to bridge coverage gaps. Although they are cheaper, they do not promise the comprehensive coverage you get from the health insurance marketplace. Also, you may still pay a tax penalty if you have a short-term health insurance plan.

Medicaid and CHIP are other alternatives you can explore if you miss the open and special enrollment periods. Not everyone is eligible for these health insurance plans. You can check with your state board to see if you or your children are eligible. You can enroll with Medicaid or CHIP at any time of the year.

The Open enrollment 2019 is almost upon us. If you are looking to buy a coverage plan for 2019, you should start researching your options now. This would ensure you make better decisions when you are ready to buy the coverage.

For more information please call ObamacareQuotes today at (800) 811-2640