Health insurance is complicated. With so many numbers and coverage details to keep track of, you’re not alone if you find it hard to keep everything straight.
Maybe you visit the doctor and don’t have the benefits you think you did. Or maybe you’re pregnant and you’re not sure how a new baby might change your coverage or premiums.
Don’t worry – these situations aren’t unusual, and you’re not locked into your health insurance plan forever. In fact, every fall during Open Enrollment Period, you have the opportunity to update your current health insurance plan to make sure it still fits your family’s needs. Or, if you experience certain life changing events during the year, you can make updates sooner during a Special Enrollment Period.
Keep reading to learn the details of how and when to change your health insurance, what the differences are between the Open Enrollment and Special Enrollment periods, and what to look for when you’re thinking about changing plans.
People choose to change their health insurance plans for all kinds of reasons. A few of the most common include:
No matter why you want to switch or make changes to your health insurance plans, there are two windows of opportunity when you can: Open Enrollment Period and a Special Enrollment Period.
Open Enrollment is the time of year when anyone can change their health insurance plan, for any reason. It typically runs from November 1 to December 15, yet is sometimes extended. Medicare Open Enrollment periods may vary.
This is the time when you can accept your current plan’s health insurance renewal, or you can shop around to find a better fit for you and your family. The plan you choose will begin January 1, or February 1, depending on when you enroll.
Want to shop around? Here are a couple ways to make the experience a little simpler:
On the health insurance marketplace, you can see plan information from many different companies all at once. You can also find out if you qualify for financial assistance. In Minnesota, get started at MNsure.org . In Wisconsin, go to healthcare.gov .
In most cases, you can only sign up for or update your health insurance during the annual Open Enrollment Period. However, if you experience certain qualifying life events, you may also become eligible for a Special Enrollment Period.
Special enrollment periods are so named because that’s exactly what they are: special. During a special enrollment period, only you and your family have the chance to decide on new coverage options.
Special enrollment periods are triggered by specific events, including:
If one of these events applies to you, you’ll usually have 60 days to switch to a new plan or make changes to your existing one.
Just like with open enrollment, you can shop around and compare plans by talking to your existing health insurance provider, your broker or visiting your state’s health insurance marketplace. In some cases, you’ll need to provide evidence of your qualifying life event before enrollment is complete.
Unlike enrolling in health insurance, you can cancel your health insurance at any time. (But if you get your health insurance through an employer, you may have more limited choices – check with them for more details). You may choose to cancel your existing plan if you become eligible for health coverage in another way, like through a new job or through your spouse’s insurance plan.
To cancel, contact your insurance provider or the health insurance marketplace where you purchased your plan. You can usually either cancel immediately or choose a specific date to end your coverage. You may need to fill out some forms to make the cancellation official.
However, it’s very important to make sure you have other plans in place for your medical care. Remember – while you can usually cancel your health insurance anytime, you can’t usually enroll anytime: only during annual open enrollment or a special enrollment period.
Before canceling your health insurance plan, make sure you’ve thought through what you’ll do if you need medical care – and how you’ll pay for it.
What’s the right health insurance plan? Everyone wants to know, but the truth is there’s no easy answer. The right plan is different for everyone, and that’s because health is different for everyone.
However, there are a few things you can compare and consider to help choose a plan that’s right for you:
Not sure where to begin? At HealthPartners, we help people in Minnesota and western Wisconsin find the right plan with the right coverage.
Whether it’s open enrollment time or you have a special enrollment period, we’re here to help make things simple. That way, you can choose a health insurance plan you’re confident in.