The Health Insurance Marketplace, also known as Obamacare, is a government-run website where people can shop for and compare health insurance plans. The Marketplace Open Enrollment Period is a time when people can enroll in or change their Marketplace health insurance coverage for the coming year.
State health insurance marketplaces are like the federal Marketplace, but they are run by individual states. Some states have their own marketplaces, while others use the federal Marketplace.
The Open Enrollment Period for both the federal Marketplace and state marketplaces typically runs from November 1 to January 15. However, some states may have shorter or longer Open Enrollment Periods.
During Open Enrollment, you can:
•Enroll in a new Marketplace health insurance plan
•Change your existing Marketplace health insurance plan
•Update your personal information, such as your income or household size
•See if you qualify for financial assistance to help pay for your Marketplace health insurance plan
How to enroll in a Marketplace health insurance plan
To enroll in a Marketplace health insurance plan, you can visit the HealthCare.gov website or your state’s marketplace website. You can also enroll over the phone or by mail.
When you enroll in a Marketplace health insurance plan, you will need to provide information about yourself and your household, such as your income, family size, and ZIP code. You will also need to choose a plan and pay your first month’s premium.
How to find a state health insurance marketplace
To find a state health insurance marketplace, you can visit the Healthcare.gov website and click on the “Get Coverage” tab and “Find Local Help”, enter your zip code. You can also search for your state’s marketplace website online.
Why should I enroll in a Marketplace health insurance plan during Open Enrollment?
There are a few reasons why you should enroll in a Marketplace health insurance plan during Open Enrollment:
•It’s the only time of year when you can enroll in a Marketplace plan without a qualifying life event. Qualifying life events include things like getting married, having a baby, or losing your job.
•You may be eligible for financial assistance to help pay for your Marketplace plan. The amount of financial assistance you receive will depend on your income and household size.
•Marketplace plans offer comprehensive health insurance coverage. Marketplace plans must cover all of the essential health benefits, such as preventive care, prescription drugs, and mental health care.
If you are not currently enrolled in health insurance, or if you are unhappy with your current health insurance plan, you should consider enrolling in a Marketplace health insurance plan during Open Enrollment.
Contact us at 973-710-5713 and we will be happy to assist you with your Marketplace application and plan selection.