Guide To Open Enrollment For Health Insurance 2020

Prepare In Advance For New Enrollment For Health Insurance

Open enrollment for the ACA health insurance plans may require some advance preparation. To that effect, it could be much better if you gather details of the below mentioned documents.

  • Social security number of members of household to be covered.
  • Copies of income tax returns for the past three years.
  • Information relating to any existing individual or family healthcare coverage.
  • Facts about household dependents’ health that you wish to cover.
  • Assess your health insurance coverage needs for the entire year.

Keep the paperwork ready before exploring government health insurance options.

Open Enrollment 2020 Has Arrived - Enroll in 3 EASY STEPS!

  • Step 1

    On your state’s online marketplace exchange

  • Step 2

    Directly with a local health insurance provider

  • Step 3

    By comparing multiple health insurance quotes

Calculate the most affordable plan for you

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Know This About Health Insurance Open Enrollment Beforehand

new enrollment for health insurance
  • You can effect changes to the current plan or buy new policy– Open enrollment period for 2020 begins. You can for open enrollment if you meet one of the qualifying events criteria. Accordingly, you can carry out changes in your existing healthcare insurance plan or buy an altogether new health insurance policy on your state’s online marketplace exchange.
  • Know the four different options on individual/family health insurance plans–
    ACA plans can be broadly categorized as under:
    • Bronze – Low premium but high out of pocket expenses
    • Silver
    • Gold
    • Platinum – Higher premium but lowest out of pocket costs
  • Income and family size to be the basis for tax credits eligibility – To be eligible for receiving tax credits, which will be directly added to your monthly health insurance premium, your individual or family income must be within 400% of federal poverty level (FPL). Accordingly, coverage limits will also vary for individual and family healthcare insurance coverage.
open enrollment for health insurance
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health insurance open enrollment

You can Enroll in Health Insurance Now under an ACA plan

  • What if you are between two enrollment periods and have lost coverage? - If you are between enrollment periods but lost coverage for reasons other than non-payment, or if you have a life change like getting married, you may qualify for special enrollment.
  • Premiums for ACA plans are lower – For the year 2020, there is a decrease in premiums for ACA plans. However, factors like plan type, income and state will play crucial role.
  • Essential coverage benefits under ACA health insurance plans –
    • Outpatient care
    • Prescription drugs
    • Emergency care
    • Rehabilitation services & devices
    • Hospitalization
    • Laboratory tests
    • Pregnancy & newborn care
    • Preventive care & wellness services
    • Mental health & drug abuse services
    • Dental & vision care for children
Health Insurance Open Enrollment Guidelines

Certain health insurance changes outside of open enrollment can make buyers eligible for qualifying events and hence, enroll for benefits.

Frequently Asked Questions

Even if you are already enrolled for health insurance, it is always desirable to make sure that your information in application is updated. Such a proposition allows you to incorporate life changes during previous year for ACA healthcare coverage plan.

The good news is that health insurance premiums for ACA plans have shown a slight decline this year. So, you do have the chance to save money. But income and family size are important factors for determining affordability of insurance.

The open enrollment period for 2020 will start from Nov.1 to Dec. 15 2019. Any chosen healthcare plan was to take effect from the 1st of January 2020. Applicants were just needed to submit an application form on their state’s online marketplace exchange with relevant income documents and details of family members. Applicants can thereafter shop and compare various available options.

If you have missed the open enrollment period for government subsidized healthcare then you still have a chance to get your personal or family’s health covered. You can get health insurance coverage outside of open enrollment by determining eligibility for one of the qualifying events. These may include aspects like changes in life like marriage, divorce, expecting a child, lost your employers healthcare coverage, etc.

As mentioned previously, any of the specified qualifying events can make you eligible for subsidized health insurance under ACA plans. However, the qualifying event takes place post open enrollment period. You may be provided a 60 days’ time period to enroll for a new plan or change your existing plan. But for certain qualifying life events, selection of plan 60 days in advance is must.

Know more about health terms

  • Obamacare

    "Obamacare" make it convenient for qualified consumers with lower incomes to secure government subsidies for individual and family health insurance policies. To qualify, you just have to make sure that your yearly household income is in the range 100% to 400% of federal poverty level.

  • Pre-existing Conditions

    The term pre-existing conditions implies health problems such as asthma, blood pressure, diabetes or cancer that a policy buyer already has prior to the beginning of the health coverage.

  • Co-Insurance

    The term “co-insurance” refers to the percentage of permissible charges for all health insurance services covered under a policy. These expenses have to be borne by the buyer.

  • Dependent

    The term “Dependent”, refers to child, spouse, parents, relative or any other person to be covered under family health policy. As per IRS rules and regulations premiums for policies purchased under ACA are eligible for tax credit benefits.

  • Special Enrollment Period

    To get enrolled for federal healthcare benefits there is an open enrollment period that is effective from the 1st of Nov. to 15th Dec. Enrollment for ACA plan post the specified time period is called the special enrollment period.

  • Preventative Care

    The term “Preventive Care” refers to the health services needed for preventing illnesses or even diseases. Such services may include counselling sessions, routine healthcare check-ups or family members covered under an ACA plan.

  • Embedded Deductible

    The term “Embedded Deductible” refers to combining of individual & family health insurance deductibles for a family health insurance policy.

  • Non-Embedded Deductible

    A non-embedded or aggregate deductible health insurance plan requires buyer to pay total family deductible amount out of pocket before the coverage begins. Insurer will thereafter start paying for the healthcare services of every individual member covered under the policy.

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