Health Insurance Blog

5 Things You Should Know About the Open Enrollment Period

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When it comes to the Annual Enrollment Period, time is of the essence. Generally, you only have a six-week period to decide on and choose an individual health insurance, or Affordable Care Act (ACA) exchanges plan that best suits your personal needs. However, suppose you’ve missed this period. In that case, individuals with a “qualifying life event” (such as marriage or having a child) can still sign up in some cases. Choosing a plan may seem daunting, but at Kauffman Insurance Group, we want to clear up some of the confusion and help you find a plan that best suits your needs. Read on for five things you should know about Annual Open Enrollment.

  1. When is Open Enrollment 2022?

In most states, the Open Enrollment Period (OEP) begins on November 1st, 2021, and closes on December 15th, 2021. Following the selection of the plan that best suits your needs, coverage will start on January 1st, 2022. Some individuals may have a Special Enrollment Period. In these cases, coverage may begin on the first day following the month you sign up. 

  1. The Open Enrollment Period Allows you to Review and Make Changes to Your Plan.

During the Open Enrollment Period, you may renew your current individual or family health insurance plan or choose new coverage through the marketplace or private insurance. Suppose you have already signed up for insurance and do not wish to make changes to an existing plan. In that case, the existing plan will automatically be renewed if the plan is still available.

 While this may seem convenient, changes to an existing plan can be difficult for many to determine. For example, the plan may renew with changes that may result in current doctors, prescription drug coverage, and preferred hospitals to no longer be in your network. It may be difficult or even more expensive to seek treatment for new or even existing conditions in cases like these. Schedule a consultation today to check your coverage and make sure your current plan still suits you!

  1. Missing the Open Enrollment Period Could Cause a Delay in Coverage

As stated above, selecting coverage is a time-sensitive matter in most cases. If you miss your open enrollment period, you may have to wait another year to sign up. Waiting can be dangerous in today’s medical climate. However, there may be exceptions if you qualify for a Special Enrollment Period (SEP). 

  1. What Situations Qualify for a Special Enrollment Period?

With some exceptions, you may qualify for a Special Enrollment Period.  Conditions may include:

  • Marriage
  • Loss of insurance due to the divorce of a spouse or partner who has you listed on their insurance plan through an employer
  • Childbirth
  • Adoption of a child
  • Loss of insurance due to the death of a spouse or partner
  • Loss of insurance due to termination from employment 
  • Loss of insurance due to the death of a spouse or partner who has you listed on their insurance plan through an employer
  • Loss of minimum hours needed to qualify for a health insurance plan through an employer

Of course, this is not an exhaustive list. Not sure if you qualify for the Special Enrollment Period? Contact us today to determine your eligibility! 

  1. There Are Many Health Plan Options Available to Browse

Selection can be at once plentiful and overwhelming. Many Americans are under the impression that once you view a health plan that works for you, you must commit to that plan. This couldn’t be farther from the truth! There are many different plans available that suit virtually any and most needs. 

Looking for the best coverage can be challenging, but it doesn’t have to be! Contact Kauffman Insurance Group, LLC today to schedule your FREE consultation! 

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