Open Enrollment Begins November 15

Are you still seeking health coverage or wishing to change your current plan or carrier? You’ll be able to do just that when the second annual open enrollment period begins on November 15, 2014. Affordable Care Act (ACA) compliant plans are available on and off of the insurance exchanges through February 15, 2015, when enrollment ends. Individuals not enrolling at this time will be required to wait until the following open enrollment period and may be subject to a tax penalty for lack of health coverage.

A plan’s effective date will depend on its date of purchase as noted in the table below.

enrollment period

A qualifying event or special enrollment period will be required for enrollment outside of the open enrollment period.

Qualifying events allow individuals to apply for health coverage outside of open enrollment. Examples of qualifying life events are loss of employer-sponsored coverage, no longer a dependent, marriage, divorce, birth, adoption, and permanent residence change.  The special enrollment period generally gives you a 60-day time period in which to apply and obtain coverage on the individual market.

Do you need help determining your eligibility for coverage? Contact a Caravus Individual Market consultant for more information.