Health insurance Open Enrollment begins November 1st,2022, and runs through January 31st, 2023.
The 15th of the Month Rule
Enrollment Date: November 1st – December 15th Effective Date: January 1st
Enrollment Date: December 16th – January 15th Effective Date: February 1st
Enrollment Date: January 16th – January 31st Effective Date: March 1st
Medicare Open Enrollment runs now until December 7th with a January 1st effective date.
Special Enrollment Period (SEP)
A time outside the yearly Open Enrollment Period when you can sign up for health insurance. You qualify for a Special Enrollment Period if you’ve had certain life events, including losing health coverage, moving, getting married, having a baby, or adopting a child, or if your household income is below a certain amount.
Depending on your Special Enrollment Period type, you may have 60 days before or 60 days following the event to enroll in a plan. You can enroll in Medicaid or the Children’s Health Insurance Program (CHIP) any time.
Job-based plans must provide a Special Enrollment Period of at least 30 days.
Costs to Consider When Choosing a Health Insurance Plan
When choosing a plan, it’s a good idea to think about your total health care costs, not just the bill (the “premium”) you pay to your insurance company every month.
Other amounts, called “out-of-pocket” costs, have a big impact on your total spending on health care – sometimes more than the premium itself.
Beyond Your Monthly Premium: Deductible and Out-Of-Pocket Costs
- Deductible: How much you have to spend for covered health services before your insurance company contributes towards your care
- Copayments and coinsurance: Payments you make each time you get a medical service after reaching your deductible
- Out-of-pocket maximum: The most you have to spend for covered services in a year. After you reach this amount, the insurance company pays 100% for covered services.
Medicare Open Enrollment
Medicare is health insurance for people 65 or older. You’re first eligible to sign up for Medicare 3 months before you turn 65. You may be eligible to get Medicare earlier if you have a disability, End-Stage Renal Disease (ESRD), or ALS (also called Lou Gehrig’s disease).
Parts of Medicare
Part A (Hospital Insurance): Helps cover inpatient care in hospitals, skilled nursing facility care, hospice care, and home health care.
Part B (Medical Insurance): Helps cover:
- Services from doctors and other health care providers
- Outpatient care
- Home health care
- Durable medical equipment (like wheelchairs, walkers, hospital beds, and other equipment)
- Many preventive services (like screenings, shots or vaccines, and yearly “Wellness” visits)
Part D (Drug coverage): Helps cover the cost of prescription drugs (including many recommended shots or vaccines). You join a Medicare drug plan in addition to Original Medicare, or you get it by joining a Medicare Advantage Plan with drug coverage. Plans that offer Medicare drug coverage are run by private insurance companies that follow rules set by Medicare.
