Open Enrollment Changes

Every year, you can enroll or renew your individual medical insurance during ACA Open Enrollment. Open Enrollment extended from November 1st through January 31st in previous years. Recently, the Center of Medicare and Medicaid Services announced a few new Open Enrollment changes for 2018. From now on Open Enrollment will start on November 1st, but will now have a final enrollment deadline of December 15th. The goal is to improve plan sustainability with the current Affordable Care Act laws.

In previous years, you had the option of electing coverage starting on January 1st, February 1st, or March 1st during the Annual Open Enrollment Period. The new Open Enrollment changes for this year will reduce effective date options for you. You can now only apply, change, or renew coverage effective January 1st.

New Re-Enrollment Premium Provision

With these Open Enrollment changes comes a new provision regarding unpaid premiums. Consumers will be required to pay back past due premiums before enrolling in a Reno health insurance plan with the same issuer the following year. The Affordable Care Act’s mandates reduced the sustainability of insurance risk pools throughout the past few years. Changes like these are aimed at encouraging members to retain coverage for the full calendar year. CMS is hoping these changes will be a positive impact on the market as a whole.

Every year, Open Enrollment has been a confusing time for consumers as almost every insurance carrier changes the plan benefits and rates on an annual basis. With even less time this year, consumers need to consult a broker as early as possible during the Annual Open Enrollment Period. Furthermore, working with a broker does not cost anything additional. The premiums and benefits you receive directly from an insurance company are the same when working with a broker. To stay up to date with changes and important news, contact us today. You can reach me at (775) 828-1216

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