Your Guide To Individual Health Insurance
Need Health Insurance? You Can Enroll Or Change Plans During The Annual Open Enrollment Period, Or If You Have A Qualifying Life Event
The Health Insurance Marketplace
The Health Insurance Marketplace, sometimes referred to as the “Exchange,” is an online platform that allows you to shop, compare, and enroll in health insurance plans. It was created under the Affordable Care Act (ACA) to provide a more streamlined and transparent way for people to find affordable health insurance coverage. The Marketplace is a website where you can compare plans based on your needs, budget, and eligibility for financial assistance.
There are also many 3rd-party platforms that interact directly with the Marketplace. And each platform must be approved by the government. Many times these platforms can provide a better user-friendly experience and additional tools not available in the Marketplace.
Truevine Insurance Solutions uses a 3rd-party platform called Health Sherpa. We have found that with this interactive platform, individuals can compare and enroll in health insurance plans in about one-half the time compared to the official Marketplace website, healthcare.gov. Plus, you can easily find out how much savings you’re eligible for.
How The Health Insurance Marketplace Works
The Health Insurance Marketplace operates at both the federal and state levels. Some states have their own state-based Marketplaces, while others use the federal platform, HealthCare.gov. (Note: Oklahoma uses Healthcare.gov.) Further, many government-approved 3rd-party platforms work together with the federal and state platforms. Regardless of which platform you use, the process is pretty similar:
Create an account: You’ll start by creating an account on the Marketplace website. You’ll need to provide basic information about yourself, like your name, contact information, and household size.
Explore your options: Once you’ve set up your account, you can browse the health insurance plans. You’ll see a range of options, from lower-cost plans with limited coverage to more comprehensive plans with higher premiums. You can compare plans side by side to see what best suits your needs.
Check for financial assistance: Depending on your income and household size, you may qualify for financial help to lower your monthly premium or out-of-pocket costs. The Marketplace will automatically calculate your eligibility for these savings as you explore your options.
Enroll in a plan: Once you’ve found a plan that meets your needs, you can enroll directly through the Marketplace. Just follow the prompts, and you’ll be on your way to getting covered.
When You Can Enroll In The Marketplace
Typically you can only enroll for individual health insurance during the annual Open Enrollment Period. This period typically takes place every year from November 1st to January 15th.
You might still qualify for coverage through a 2023 Special Enrollment Period if you missed the open enrollment period. Find out if you qualify below.
Health Insurance Open Enrollment 2023
The 2023 health insurance open enrollment period began on November 1, 2022, and ran through January 15, 2023. Barring any changes, the 2024 health insurance open enrollment period should run from November 1, 2023, through January 15, 2024.
2023 Health Insurance Special Enrollment Period
You can get coverage for the remainder of 2023 if you qualify for a special enrollment due to a life change, are eligible for Medicaid or CHIP, or have a change in estimated household income.
Life Changes That Qualify for Special Enrollment
You may qualify based on one of the following life changes:
Changes In Household
You may qualify for a special enrollment if, in the past 60 days, you or someone in your household:
- Got married
- Had a baby, adopted a child, or placed a child in foster care
- Got divorced or legally separated and lost health insurance
Changes In Residence
You may qualify for a special enrollment if you move to:
- A new home in a new ZIP code or county
- The U.S. from a foreign country or a U.S. territory
Or, move to or from:
- The place you attend school (if a student)
- The place you both live and work (if you’re a seasonal worker)
- A shelter or other transitional housing
Loss of Health Insurance
You may qualify for a Special Enrollment Period if you or anyone in your household lost qualifying health coverage in the past 60 days or if you expect to lose coverage in the next 60 days.
You may qualify if you lost:
- Job-based coverage
- Individual health coverage
- Medicaid or CHIP
- Eligibility for Medicare
- Coverage through a family member
Special Enrollment Based On Your Estimated Household Income
You may qualify for a Special Enrollment Period, Medicaid, or CHIP based on your estimated household income.
Eligibility for Medicaid and CHIP varies by state and by the number of people in your household.
If you have any questions or need assistance, please don’t hesitate to reach out. Using our trusted third-party platform, you can also check your eligibility, compare plans, and enroll online.
Speak With A Trustworthy Agent
Get in touch with us today for a personalized health insurance quote or consultation – simply call, text, or send us a message.