The Team at LIG Solutions is answering all your questions and breaking down any common insurance misconceptions – especially around Annual and Open Enrollment that is happening now!
When is it? Annual Enrollment began October 15 and runs until December 7, 2021. Open Enrollment 2022 runs November 1 – January 15, 2022 – this has been extended this year! Please note that if you need health coverage for 2022 you must enroll in a plan by December 15, 2021. All coverage purchased after this date will have a February 1, 2022, effective date.
What is the difference between AEP and OEP? Annual Enrollment is for individuals who are over the age of 65 or individuals under the age of 65 in limited circumstances – this is also known as the time to enroll in Medicare*. Open Enrollment is the time for anyone under the age of 65 to enroll in health coverage through the federal or state marketplaces for the next year.
What has changed for 2022? You can likely see lower premiums and additional choices through the Affordable Care Act federal exchange. More major carriers have entered back into the exchange and subsidies for ACA plans have been enhanced over the year, with adjustments to the income scale – if you did not qualify for a subsidy before you could now!
What if I need coverage now – before the new year? You have options, depending on your current situation you may qualify for an ACA marketplace plan or private coverage.
I just got a plan during the Special Enrollment Period – do I need to sign up again during OEP? You do not have to sign up again, most plans will auto-renew, be sure to check your plan to see if this applies to you! However, the 2022 marketplace has new carriers and new plans that have been released. It is always in your best interest to review your coverage to ensure you are getting the best solution!
I want the same plan that I had during 2021 for the next year, how can I re-enroll? While the plan selected fit your health coverage needs last year, know that the marketplace is constantly changing and offering new benefits and adding in new carriers. It is important to actively shop the market and learn the options available to you and our family – note if you stay in your current plan and re-enroll you could be at risk for higher premiums without knowing.
My 26-year-old is aging out of my family’s health insurance plan – where can they get coverage? This is considered a QLE (qualifying life event) and the ACA marketplace is open for 60 days following the loss of coverage as well as 60 days prior to the loss of coverage.
I don’t need major medical coverage but would like to look at different dental/vision or supplemental options, can I get these separate? The short answer is yes – there are different solutions across the 50 states, however, some states restrict the supplementals available outside the state exchange.
What if I have plan-specific questions or need to know if my doctor/medications/treatment will be covered in my next plan? Work with a licensed health insurance broker who will be able to look into your current plan and compare coverage options!
Do you have a question that wasn’t answered above? Contact us! LIG is your resource for all health coverage needs – we have the solutions, with no added costs! We can help individuals, families, and businesses secure the health coverage they need based on their lifestyle and budget. Call 877-804-9756 to be connected to a LIG licensed agent today or fill out the form below to request more information.
*Disclaimer: LIG Solutions is not affiliated with the U.S. government or federal Medicare program.
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