Open Enrollment Periods

Medicare’s Open Enrollment Period (AEP) is approaching. Beginning October 15 to December 7, anyone who is over 65 will have the opportunity to enroll in a health coverage plan. Everyone who is already enrolled in a Medicare plan has the option to adjust their coverage during this time. In January, February, and March, individuals who already have a Medicare plan will be able to change plans, but cannot get new plans.

For anyone under 65, Open Enrollment begins November 1 and goes through December 15. All plans selected will go into effect on January 1, 2021.

Some states have their own marketplaces and abide by different OEP timelines, call LIG Solutions to see if your state is in this list.

What if I need coverage now – what are my options?

  • You may be eligible to enroll in a health coverage plan outside of OEP through a special Enrollment Period. This is a qualifying life event (QLE) such as marriage, a birth, loss of health insurance, moving, job change/loss.
  • Medicaid or the Children’s Health Insurance Program (CHIP) accepts applications year-round.
  • Short-term health plans are a way to bridge gaps in coverage while waiting for OEP. Please be aware – these do not have to adhere to ACA requirements on coverage and usually do not cover pre-existing conditions.
  • Group Health Insurance Reimbursement Arrangement (HRA) is an option for employers to provide employees a set amount of money towards health insurance premiums. If an organization establishes a Group HRA – it will have it’s own OEP, and does not rely on the national standard timeline.

For more information or to answer any of your insurance-related questions, LIG’s trusted advisors are licensed in all 50 states and ready to find your plan today!

Thank you to our partner, the American Booksellers Association, for the original article published here. ABA is part of the LIG Association Health Program, offering individual health coverage options to their membership.

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