One of the little known new rules from the new Affordable Healthcare Act is that individuals buying their own health insurance can now only buy during the open enrollment periods. For 2014, that period was October 1, 2013 to March 31, 2014. For 2015, the next open enrollment period will be November 15, 2014 to February 15, 2015 for plans starting January 1, 2015. This is true whether you buy through the marketplace with subsidies or buy on your own without subsidies.
The reason for this change is that all plans are now guaranteed issue. If the plans were not limited in time frames to buy, you would have potential risk in the system that sick people would only sign up when they were sick and dis enroll when they got better. This is the same rule that has always applied to group plans as well.
You may still enroll this year for insurance if you qualify under one of the following events:
- Loss of health insurance through your employer or your spouse’s employer.
- A reduction in work hours that means you are ineligible for your employer’s group health insurance coverage.
- The cancellation of a group health insurance plan.
- Marriage, Divorce, Birth or Adoption of a child, or the death of a spouse that leaves you insured.
- You move in or out of your current health plan’s service area/state.
You can also add a Fixed Medical or other Supplemental Medical Plan such as a critical illness and/or accident plan to help defray some of the costs of a unexpected accident or illness. Blue Cross has some great new products for 2014.
We are here to help. Just give us a call.
Sherie Samstag Bryan
(919) 977-1272