What You Need to Know about the Special Enrollment Period

The new presidential administration has reopened the Affordable Care Act (ACA) open enrollment period for 2021 healthcare coverage. The 2021 regular enrollment period was from November 1 through December 15, 2020. After job losses reached record highs, more Americans lost health insurance. In response, the new administration reopened open enrollment with a three-month window and then extended it. Now open until August 15, if you missed the ACA deadline, the new special enrollment period opens the door to coverage for many Americans. In states with their own ACA exchanges, extension dates may vary.

If you lost your job, your previous employer may offer health coverage continuation through COBRA. For many, COBRA premiums are simply unaffordable. If you lose health insurance due to reduced hours or job loss, investigate coverage through the ACA. This can help you determine whether you should pay COBRA rates or opt into the often more affordable ACA. Remember if you choose COBRA, you’ll usually only have COBRA benefits for 18 months. You will then need to find alternative coverage.

The current administration issued an executive order that instructs federal agencies to ease reenrollment challenges. However, buying coverage through HealthCare.gov can be confusing. Simply determining which plan to choose (Bronze, Silver, Gold or Platinum) is just one decision. Ensuring the plan covers your doctors is another.

The most important factor about the ACA is there are no restrictions for preexisting conditions, and free annual healthcare checkups can keep you healthy, ultimately reducing your healthcare costs.

Don’t navigate open enrollment alone. Call us to help find the best plan for your budget.