The Health Insurance Marketplace

Open enrollment for 2024 health insurance coverage through the Health Insurance Marketplace opened on November 1, 2023 and continues through January 16, 2024. Before you start your application, take time to review this quick guide from the HealthCare.gov website to help you learn more about enrollment, potential savings, picking a plan, and more. This informative checklist from HealthCare.gov is also a great resource to make the application process quicker and easier.

1. Open Enrollment for 2024 coverage is November 1, 2023 through January 16, 2024

•  After January 16, you can enroll in 2024 health insurance only if you qualify for a Special Enrollment Period.
• 2024 coverage will begin on February 1, 2024 if you enroll by January 16 and pay your first premium.

2. What you pay for insurance depends on your income — and you’ll probably save

• Your savings depend on your expected household income for the year. Because of the American Rescue Plan Act of 2021, more people than ever before qualify for help paying for health coverage, even those who weren’t eligible in the past. And most people currently enrolled in a Marketplace plan may qualify for more tax credits.
• Get a quick idea if you’ll save. Based on your income estimate, you’ll learn if you qualify for:
  • A health insurance plan with savings based on your income
    • You may qualify for a premium tax credit that lowers your monthly insurance bill, and for extra savings on out-of-pocket costs like deductibles and copayments.
    • The plans are offered by private insurance companies with a range of prices and features.
  • Medicaid or the Children’s Health Insurance Program (CHIP)
    • Many states are expanding Medicaid to cover all households below certain incomes. See if your state is expanding and if your income is in range to qualify.
    • Your children may qualify for CHIP even if you don’t qualify for Medicaid.

3. You can apply for coverage several ways

• Apply any way that works for you: Online, by phone, with in-person help, through an agent/broker, or with a paper application.

4. The Marketplace is for people without health coverage

• If you don’t have health insurance through a job, Medicare, Medicaid, the Children’s Health Insurance Program (CHIP), or another source that provides qualifying health coverage, the Marketplace can help you get covered.
• If you have job-based insurance: You can buy a Marketplace plan, but you’ll pay full price unless your job-based insurance doesn’t meet certain standards. Most job-based plans do.
• If you have Medicare: You can’t switch to Marketplace insurance, use a Marketplace plan as a supplement, or buy a Marketplace dental plan. Learn about Medicare and the Marketplace.

The above information and more can be found at www.HealthCare.gov.