On Thursday, January 28, 2021, President Biden announced plans to reopen the federal health insurance markets for a nation-wide Special Enrollment Period. This action is being taken in response to the massive economic effects of the COVID-19 pandemic which has resulted in some of the highest unemployment rates in decades.
When does it start, and how long does it last?
The 2021 Special Enrollment Period will begin on February 15 and run through May 15, 2021. Coverage effective dates for those who enroll during this time will begin on the first day of the month following an enrollment date. (For example, an enrollment date of March 4 will have an effective date of April 1.)
Will there be another Open Enrollment Period later this year?
Yes. The annual Open Enrollment Period will run from November 1 through December 15. Individuals who enroll during this time will have a January 1, 2022 coverage effective date.
I enrolled during the Open Enrollment period last year. Will I need to sign up for my plan again?
No. If you are currently enrolled in health insurance coverage, you do not need to enroll again. However, if you are interested in changing your coverage, this is your chance to secure ACA-compliant health insurance outside of the annual Open Enrollment Period. Just keep in mind that if you decide to change your plan, your deductible and out-of-pocket maximum will reset based on your new coverage details.
Is this only available to those impacted by COVID-19?
No. Even though this is being called a 2021 COVID-19 Special Enrollment Period, you do not need to have experienced COVID-19, or even a Qualifying Life Event to enroll in (or change) coverage.