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Open enrollment for the Affordable Care Act’s Marketplaces is coming to an in depth. In most states, January 16 is the final day to enroll in a 2024 plan (absent particular circumstances). This week, we’re highlighting regularly requested questions (FAQs) from CHIR’s Navigator Resource Guide in regards to the finish of open enrollment.
If I purchase a plan throughout open enrollment, when does my protection begin?
Open enrollment is from November 1, 2023 to January 16, 2024 in most states. If you enroll by December 15, 2023, and should you make your first premium cost by the due date specified by your plan, your new protection will begin on January 1, 2024. If you enroll on January 16 and pay your first month’s premium cost, your new protection would begin on February 1.
To discover out in case your state has a unique open enrollment interval, go to our state truth sheets. (45 C.F.R. § 155.410.)
What if I join a plan and alter my thoughts? Can I swap my plan throughout open enrollment?
Yes, you possibly can change plans for the 2024 profit 12 months anytime in the course of the open enrollment interval, however bear in mind that, for the federally facilitated Marketplace, that interval lasts solely from November 1, 2023 to January 16, 2024 for protection beginning in 2024. Some states have longer open enrollment durations, so examine your state’s Marketplace. After open enrollment, you possibly can solely change plans as soon as your protection has taken impact you probably have a change in circumstance qualifying you for a particular enrollment interval, until you might be an American Indian or Alaskan Native or, in most states, your earnings is under 150 p.c of the federal poverty stage. (45 C.F.R. § 155.420.)
I’ve picked the plan I would like. Now do I ship my premium to the Marketplace?
No, you’ll make your premium funds on to the medical health insurance firm. Once you’ve chosen your plan, the Marketplace will direct you to your insurance coverage firm’s web site to make the preliminary premium cost. Insurance firms should settle for totally different types of cost they usually can’t discriminate in opposition to customers who would not have bank cards or financial institution accounts. The insurance coverage firm should obtain and course of your cost not less than sooner or later earlier than protection begins. Make positive you perceive your insurance coverage firm’s cost necessities and deadlines and comply with them so your protection begins on time. Your enrollment within the well being plan will not be full till the insurance coverage firm receives your first premium cost.
If you might have certified to obtain a premium tax credit score and have chosen to obtain it prematurely, the federal government pays the credit score on to your insurer and you’ll pay the rest of the premium on to the insurer.
(45 C.F.R. §§ 147.104, 155.305.)
Consumers in most states have till January 16 to enroll in a Marketplace plan for 2024 (the Marketplaces in some states have set a unique deadline). Check out our Navigator Resource Guide for extra FAQs, state-specific data, and different useful assets.