Affordable Care Act 2024 open enrollment is scheduled to close January 16th 2024 and a record number of Americans have already signed up for an ACA Marketplace plan. Thanks to Biden administration support for it, not only has ACA survived executive and legislative changes (at least until January of 2025) but has actually seen several improvements implemented through several different measures: American Rescue Plan Act of 2021 added many enhancements such as cost sharing savings and subsidies that extended through 2025 by Inflation Reduction Act; further enhancements were further extended through Inflation Reduction Act and Inflation Reduction Act respectively.
If you do not already have health insurance coverage, I urge you to enroll in an Affordable Care Act plan as soon as possible. Below I have provided resources and answers to a number of frequently asked questions about enrolling with an ACA plan. Even if open enrollment for 2023 does not come around yet, special enrollment could still apply to you – please read further for details.
What Are My Open Enrollment Dates? Open enrollment closes for most states (those using healthcare.gov as their exchange) on January 16, 2024; however, those eligible may be eligible for special enrollment periods due to qualifying life events or newly uninsured individuals may find additional coverage outside of open enrollment such as Affordable Care Act plans available after this date. Start enrolling today if eligible; some states with their own health exchanges have extended deadlines beyond January 16th 2024!
Where Can I Enroll? Healthcare.gov or, if applicable, your state+DC marketplace. To be sure you qualify for premium subsidies and avoid potentially inferior plans if signing up through third-party channels.
Do I Need to Sign Up Again?
It is strongly advised that current plan holders login annually and review their options for next year, renew or switch plans as there may be many new qualified plans with premiums, subsidies and cost sharing that differ each year; additionally premium subsidies could vary based on income or plan choice – be sure to update both income and household information appropriately!
Who Should Sign Up for a Marketplace Plan? My recommendation would be for anyone without employer-sponsored coverage (either directly or through their family members; including under 26s who still depend on parents for support), Medicaid, CHIP or Medicare to enroll in one.
Why Should I Sign Up for a Marketplace Plan? Your health and financial security depend upon it. Even those of us who seem healthy could be vulnerable to medical costs that threaten to bankrupt us; additionally, marketplace plans offer subsidies for nearly everyone who purchases insurance on exchanges; however if you purchase outside these exchanges then no subsidies would apply.
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