Two weeks ago, the news broke that the Biden administration has opened a one-time special enrollment period (SEP) on HealthCare.gov. This is great news if you’re looking to get insured due to loss of insurance or for another reason, now is the time as the ACA marketplace will reopen from February 15-May 15th,2021.
Things to know about the SEP:
– You do not need to qualify for the SEP. Anyone eligible for marketplace coverage can enroll or change plans. Including those who are currently uninsured (or covered under a plan that isn’t considered minimum essential coverage, such as short-term health insurance or a health care sharing ministry plan) as well as people who are already enrolled in a plan through HealthCare.gov.
– You can enroll at any time during the month and receive a coverage effective date on the first day of the following month.
– Those enrolled in a plan through HealthCare.gov can use the COVID-related special enrollment period “to change to any available plan in their area without restriction to the same level of coverage as their current plan.”
– The enrollment window that is being offered on HealthCare.gov from February 15 to May 15, 2021, is much more flexible and is more like an open enrollment period than a normal special enrollment period.
– You do not need a qualifying event to enroll, and the window can be used for new enrollments as well as plan changes.
– Keep in mind that mid-year plan changes mean starting over at $0 on the new plan’s deductible and out-of-pocket maximum.
What to do next?
If you are considering enrolling in a new plan or modifying your existing one, reach out to our customer support team to provide guidance and expert advice on enrollments during Special Enrollment Period.