The ACA Open Enrollment Period begins in just two days. Are you aware of the important dates to keep in mind for the enrollment period? This could prevent your clients from loss of subsidy and disruption of coverage.
- November 1st, 2015 – Open Enrollment starts – the first day you can enroll in a 2016 health insurance plan through the Health Insurance Marketplace. Coverage can start as soon as January 1, 2016.
- December 15, 2015 – The last day to enroll or change plans for a new coverage date to start on January 1, 2016
- January 1, 2016 – The first day of 2016 coverage for those who enroll or change plans by December 15, 2015
- January 15, 2016 – The last day to enroll in or change plans for new coverage to start on February 1, 2016
- January 31, 2016 – Open Enrollment ends. Enrollments or changes between January 16 and January take effect March 1, 2016.
When clients are enrolled in a 2015 Marketplace health insurance plan, you can assist them with a re-enroll or change health insurance plans for 2016. It is strongly recommended that your clients update their expected income and household information for 2016 and check out new insurance plans and prices available in your area. You will need to remind clients to update their income and household information even if they want to keep their current health care plan. It’s the only way to be sure your client’s premium tax credit for 2016 is accurate.
If you don’t act by December 15, your clients will probably be automatically re-enrolled for January 1—but their premium tax credit will be based on last year’s information provided or other information the Marketplace has pulled from other sources (i.e., I.R.S. tax filings, etc.) Clients might also be automatically enrolled with no tax credit.
In some cases, clients may not be re-enrolled. You’ll need to take action by December 15th to help clients stay covered January 1, 2016. For more information regarding plans in your market, commissions, and assistance with client retention–reach out to a Regional Sales Consultant today at 1-800-962-4693.