Ready for Open Enrollment? Here’s what to know about it
Open Enrollment, the window of time when individuals can enroll in a new health plan for 2020, starts in roughly six weeks, on November 1st. (Woot woot!)
And we’re here to help get you prepped and ready for it. Here are a few key things to know about shopping for insurance this Open Enrollment.
You may qualify for financial assistance
Financial aid for health insurance, otherwise known as a subsidy, is a type of financial assistance that can lower your monthly premium or reduce your out-of-pocket medical costs.
Whether you qualify for subsidies depends on your income, family size and the cost of health insurance in your area. Many individuals qualify for financial assistance if their annual income is less than $47,000. A family of four that makes up to $97,000 is also likely to qualify.
Buy an on-exchange health plan by December 15th for coverage starting January 1st
If you’re purchasing health insurance on the health insurance exchange, Connect for Health Colorado, you have until December 15th to enroll in a health plan that starts January 1st of 2019.
Buy an off-exchange health plan by December 31st for coverage starting January 1st
If you’re buying your health plan directly from a health insurance carrier, like Friday Health Plans, then you have until the end of December to buy a plan starting January 1st.
Buy a health plan by January 15th for coverage starting February 1st
If you miss the “official” Open Enrollment deadlines, you won’t be covered for the entire month of January. Chilly. But, you’ll still have until January 15th to get coverage starting February 1st.
Buying health insurance can be confusing. If you have questions about plans, services, or benefits, our team would be happy to help. Reach out to our friendly health insurance experts at firstname.lastname@example.org or 800-475-8466