Affordable Care Act 2024 open enrollment officially ended January 16, 2024 and an unprecedented number of Americans had enrolled in an Affordable Care Act marketplace plan. Thanks to President Biden and the full support from Congress for it, not only has the ACA survived but has actually seen its strength enhanced – not only has its demise been prevented through executive or legislative changes (until at least January of 2025), but many enhancements such as cost sharing savings and subsidies were added via The American Rescue Plan Act of 2021 while Inflation Reduction Act extended those features further.
If you don’t already have health insurance, I encourage you to enroll in an ACA plan as soon as possible. Below I have provided resources and answers to frequently asked questions about enrollment; even if open enrollment for 2023 doesn’t allow you to sign up through Special Enrollment you could still qualify – read further for details!
What Are My Open Enrollment Dates? Open enrollment closes for most states that use healthcare.gov as their exchange by January 16, 2024; however, certain life events could qualify you for special enrollment periods and provide coverage outside of this open enrollment period; such as accessing Affordable Care Act plans outside of open enrollment period – start enrolling now to see if eligible! Some states managing their own health insurance exchanges have extended deadlines beyond January 16, 2024 so begin your enrollment process now to see if eligible!
Where Can I Enroll? Healthcare.gov or, in states and DC with their own marketplaces, they will direct you. It is very important that when enrolling, only sign up through healthcare.gov since otherwise you could potentially miss out on premium subsidies and potentially sign up for subpar plans.
Do I Have to Sign Up Again?
It is highly advised that those currently holding health plans sign into their accounts to assess their options for next year and either renew or switch plans, given there are new qualified plans every year with differing premiums, subsidies and cost sharing structures as well as premium subsidies based on income/household status that could change. It would be prudent to update both income/household status information in your profile accordingly.
Who Should Sign Up for a Marketplace Plan? My advice: All individuals who do not already have employer sponsored insurance through either themselves, family members (if under 26) or Medicaid/CHIP/Medicare coverage.
Why Should I Enroll in a Marketplace Plan? Your health and financial stability depend on it. Even those of us who appear healthy could be susceptible to unexpected medical costs that threaten financial ruin; Marketplace plans provide subsidies to virtually everyone who purchases through exchanges; buying outside will result in no such subsidies being extended.
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