19 Jul 2017

When Is The Open Enrollment Period For 2018?

When Is The Open Enrollment Period For 2018?

Do you need to purchase a health insurance plan in the near future? Well, take a seat, grab a pen, and read thoroughly because this information is very important.


You might have heard the term ‘Open Enrollment’ being used over the years, and it refers specifically to an annual period where Americans can shop around for health insurance. This year, the Open Enrollment period is from November 1, 2017 to December 15, 2017, meaning you have exactly 45 days to buy a plan from the marketplace.


The insurance industry can be complex, so you should watch out for these things:


  • Qualifying Life Event (QLE)

This refers to a major change in your life that makes you ineligible to purchase health insurance during the Open Enrollment Period. Examples of a qualifying life event can be found at HealthCare.gov and include getting married, divorced, having a baby, losing your old health coverage, and moving to a different location with a new ZIP code.


The good news here is that you’re eligible for the Special Enrollment Period, but you’ll have to act within 60 days of the QLE. You can make an application where you’ll be prompted to answer a series of questions, which prove you’ve indeed experienced a life change. Once the application is approved, you will have access to buy a plan through the marketplace. If an application is not submitted within the first 60 days following the event, you’re forced to wait until the next Open Enrollment Period.


  • Job-Based Insurance

Many Americans obtain their health insurance through their employers, meaning it’s the company that determines the enrollment period. If you want to make any modifications to your job-based plan, you’ll also need to wait for this specific enrollment period. We recommend asking your manager or contacting the human resources department to find out the exact details.


  • Children Under 26

If you’re under the age of 26 and your parents have health insurance, it’s possible to get coverage through their plan. Keep in mind it’s always important to sit down and read the fine print to find out what kind of coverage you’re eligible for. In general, this is a great solution for young adults who can buy a bit of time before they’re forced to shop around for a plan in the marketplace.


  • Medicaid

Medicaid offers health insurance to millions of impoverished Americans each year that fall within a certain income bracket. The program is regulated by the federal government but is controlled by each state. Therefore, Medicaid eligibility differs depending on where you live. You do not need to wait for the Open Enrollment period and can register for this program throughout the year.


It’s crucial to understand the terms of the Open Enrollment period and properly prepare to purchase a health insurance plan. It can be anxiety provoking to miss this specific 45-day period, which could ultimately leave you uninsured and vulnerable. You can always count on HealthQuoteInfo to provide a medical plan, along with the latest information surrounding this complex issue of health insurance.





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