The Affordable Care Act (ACA), also known as Obamacare, created nationwide open enrollment periods wherein you can enroll in individual and family major medical health insurance plans.
National Insurance Associates, Inc., a reputable source of insurance services in North Carolina, has prepared the following must-know details that you should know about ACA:
- ACA Open Enrollment: What Is It? When Does It Happen?
During the ACA open enrollment, you have the opportunity to sign up for a new health insurance plan. You can also take the time to compare insurance options in the market and find one that best suits your needs and budget. The ACA open enrollment period for major medical coverage starts on November 1, 2019; however, dates may vary state by state.
For North Carolina, open enrollment period runs from November 1 through December 15.
- ACA Open Enrollment: What Happens if You Miss It
If you miss the open enrollment period, you may run the risk of going without health insurance coverage throughout 2020. Outside the ACA open enrollment period, you may only be able to apply for individual and family health insurance coverage when you go through a qualifying life event. Under the ACA law, qualifying life events may include the birth of a child, marriage, divorce, major income changes which make you eligible for subsidies, or moving to a new coverage area.
When you experience any of the applicable life events, you typically trigger a 60-day special enrollment period. Be prepared to provide relevant documentation. You may also have to meet other criteria related to that qualifying life event.
- Health Insurance Sources: Where You Can Shop During the Open Enrollment
During the open enrollment period, you can shop for new individual or family health insurance plans through various sources. You can shop from government-run health insurance exchanges, private health insurance agents, or health insurance companies.
If you are looking for national insurance associates in High Point, North Carolina who can help you find the best health insurance policy for your needs, look no further than National Insurance Associates, Inc.
- Need insurance coverage right now? Request a quote today – no commitments or obligations required. We are here to help you find exactly what you need at a competitive price.
- ACA and Employer-Based Health Insurance: What to Do
Do you have employer-based health insurance? If so, you don’t have to worry about the ACA open enrollment period. However, take note that the company you work for may have a separate enrollment period of its own.
- Open Enrollment: Re-Shopping for a New Health Insurance Plan
Generally, it’s a good idea to review your coverage every open enrollment period. This will help you determine whether your health insurance plan last year still matches your personal needs and budget. Also, take note that some plans may be canceled or may raise the rates during the succeeding year. Check your needs. For instance, your medical needs may have changed in the past year, so shopping for a new plan with more benefits may be more ideal for you.