The 2019 Open Enrollment Period for individual health insurance runs from Thursday, November 1, 2018, to Saturday, December 15, 2018. If you need health insurance but do not purchase a plan by December 15th then you are not able to secure coverage for 2019 unless there is a “qualifying event” that allows for you to purchase a plan outside of the open enrollment period.
Examples of “qualifying events” include getting married, having a baby, and losing job-based coverage. Remember that if a “qualifying event” applies then you have 60-days from the qualifying event to enroll in an individual health plan; otherwise, you must wait until the next open enrollment period, which begins November 1st of each year.
For any plans purchased during the 2019 Open Enrollment Period, coverage becomes effective on January 1, 2019.
One essential change to health insurance for 2019 is that the individual mandate was repealed; therefore, no tax penalty will be assessed to Americans who do not possess health coverage. (Note: anyone without health insurance in 2018 will be still be subject to the tax penalty)
If you currently possess individual health insurance then the open enrollment period is a great time to make changes to your current plan, if desired. We recommend reviewing your renewal plan to ensure your doctors and preferred hospital are still in your network. Furthermore, your prescription drug coverage could also change so check your plan’s 2019 drug benefits before you allow your plan to automatically renew.
Contact BrookStone Insurance Group to assist you with your health insurance plan review or initial plan assessment.