The open enrollment period for 2021 health insurance coverage through marketplaces and other individual plans is here. The National Association of Insurance Commissioners (NAIC) has what you need to know to enroll.
Consumers in most states use the federal marketplace through Healthcare.gov, and for them, open enrollment runs Nov. 1, 2020 – Dec. 15, 2020. A few states start open enrollment earlier or end later. Check here for state specific information.
Those who currently have marketplace coverage, or will need it in 2021, should make time to shop for plans. If you already have coverage through a marketplace plan, review your information to make sure it is accurate. You can update your application with any income and/or household changes. You might qualify for a different amount of financial assistance or find a different plan that costs less and/or better meets your needs.
The NAIC’s Health Insurance Shopping Tool provides a 3-step process to compare different health insurance policies. Use the tool to understand how different policies support your health care needs.
What to Look For
If your plan is no longer available in 2021, you should receive a notice from your insurer and the marketplace. Even if your plan is continuing, it pays to shop around and check whether the doctors and/or hospitals your family uses are in the plan's networks.
If you're looking for a new plan, there are four categories of health insurance plans to choose from on the marketplace — Bronze, Silver, Gold and Platinum. They're broken up by how costs are shared between you and your insurer. A fifth category, Catastrophic, is available for consumers under 30 years of age or who face a hardship in accessing the other plans. Learn more about the different plans and network types.
If you have questions about the health insurance marketplace in your state, contact your state insurance department. For more information on NAIC activity on health care reform, visit the Health Care Reform Special Section.