What is a Health Insurance Marketplace?
The Health Insurance Marketplace, also known as the “Marketplace” or “exchange,” provides health plan shopping and enrollment services through websites, call centers, and in-person help.
While Open Enrollment for 2020 is over, Florida Health Insurance Marketplace Open Enrollment for 2021 is available from Sunday, November 1 to Tuesday, December 5. Plans that are sold during Open Enrollment will start on January 1, 2021.
Am I Eligible for Open Enrollment?
The Marketplace is only for people who don’t have health coverage. These would be individuals who don’t have health insurance through their job, Medicare, Medicaid, the Children’s Health Insurance Program (CHIP), or any other source that provides qualifying health coverage. This is where the Florida Health Insurance Marketplace can help you get covered.
Your savings through open enrollment depends on your expected household income. You are able to check your potential savings, and see if you qualify for a health insurance plan with savings. Recent life events may also help you qualify if you previously were ineligible to qualify in previous years.
For instance, in the light of COVID-19, we know that numerous people have lost their jobs — which provided them health insurance. In this particular case, this would count as a qualifying event that makes you eligible for the Florida Health Insurance Marketplace Open Enrollment Period.
Once you check if you are eligible, you may qualify for a health insurance plan that may lower your monthly insurance bill, as well as extra savings on out-of-pocket costs like deductibles and co-payments. These plans are offered by private insurance companies, like Thomas & Associates, with a range of prices and coverage options that can help you and/or your family.
How Do I Enroll for Coverage?
There are many ways to start Open Enrollment starting on November 1.
- You can do it online to find and/or contact an agent, broker, or assister.
- By phone.
- Through an agent or broker, like Thomas & Associates.
- Through certified enrollment partner websites, like Healthcare.gov.
- With a paper application that can be mailed out.
What Happens if I Miss the Open Enrollment Deadline?
If you miss the Florida Health Insurance Marketplace deadline, which is on December 15, you can still enroll for 2021 health insurance, but only if you qualify for a Special Enrollment Period (SEP).
The SEP is a time outside of the yearly Open Enrollment Period when you can sign up for health insurance. Remember before when we mentioned losing your insurance coverage through work? This counts for SEP.
Other items that count for SEP would include moving, getting married, having a baby, or even adopting a child.
If you happen to have gone through any of these life changes — depending on your SEP type — you may have 60 days before or 60 days following the event to enroll in a plan. Job-based plans but provide a Special Enrollment Period of at least 30 days.
The Florida Health Insurance Marketplace Is Opening Soon — and We Can Help!
The Open Enrollment Period is a chance to review your health care coverage, and see if changes need to be made to prepare for the next year.
If you plan to go through an agent or insurance broker, we at Thomas & Associates understand that the right health insurance plan is the one that best fits your needs and budget. With so many options out there, we make it our job to help you find the one that makes the best sense for your life.
We will help you take the time to review your options and choose a policy that works for you, so you have a safer and more financially-sound health insurance plan in the long-run.
At Thomas & Associates, we have years of experience helping people find the right health insurance plan, and our certified brokers can help you through the healthcare Open Enrollment process. Contact us for more information and get a quote today or call us at: 904-730-3900.