Understanding Open Enrollment: It’s the specific time each year, typically from November 1 to January 15, when you can sign up for health insurance through the Health Insurance Marketplace, as established by the Affordable Care Act (ACA).
This period allows for guaranteed enrollment without being denied or charged more due to pre-existing conditions. Some states offer extended deadlines.
Special Enrollment Periods (SEPs): If life throws a curveball your way, like losing your job, getting married, or welcoming a new family member, you might qualify for a SEP. This gives you 60 days to change your health plan without a penalty, regardless of your health history.
Health Sharing Plans: An alternative to traditional insurance, health sharing plans are non-profit groups offering to share healthcare costs among members. These plans can be significantly cheaper than standard health insurance premiums, sometimes saving members 40%-50%. However, they don’t qualify for ACA subsidies and might have waiting periods for pre-existing conditions.
Some popular health sharing plans include HSA SECURE, Prosper, DPC DIRECT, netWell, OneShare Health, and Medi-Share. Each has its own set of rules, benefits, and sometimes, religious or lifestyle requirements.
Compare Pricing on the Best HealthShare Plans Available
Short-Term Health Insurance Plans: If you just missed the enrollment window, a short-term plan can provide a temporary safety net until you can get regular coverage. These plans can last from 30 days up to 12 months, depending on the state, and can be an excellent bridge to more permanent insurance solutions. They are not available in all states.
Key Takeaways:
- Don’t panic if you missed open enrollment; options are still available.
- Check if you qualify for a Special Enrollment Period due to life changes.
- Consider health sharing plans for potentially lower costs.
- Explore short-term health insurance as a temporary solution.
- Always consult with a Personal Benefits Advisor to understand the best choice for your specific situation.
Here are some additional articles on health sharing programs: Healthcare Options Outside Open Enrollment | The Health Insurance Open Enrollment Period
Here are some additional pages related to this article: Special Enrollment Periods – Know Your Options Outside Open Enrollment | More Healthshare Information
Wiley is President of HSA for America. He believes that consumers should have choice and price transparency, so they can make the best healthcare decisions for their needs. Read more about Wiley on his Bio page.
