What is the Open Enrollment Period?
Each year individuals enrolled in certain medical insurance plans can make changes to these plans during a designated time period known as the Open Enrollment Period.
Open Enrollment for Medicare Advantage and Prescription Drug Plans begins October 15, 2022 and ends December 7, 2022. Changes made during this Open Enrollment period will become effective January 1, 2023.
Open Enrollment for Affordable Care Act (ACA) plans begins November 1, 2022 and ends January 15, 2023. Enroll by December 15, 2022 for coverage that begins January 1, 2023. Enroll between December 16, 2022 and January 15, 2023 for coverage that will become effective February 1, 2023.
In either category it is important to review your current coverage to ensure that it still meets your needs.
If you need to enroll or change and miss the Open Enrollment Period, you may have to wait until next year unless you qualify for a Special Enrollment Period (SEP).
During the Open Enrollment Period, you can review your current plan and compare to 2023 plans and see if there is a new plan that is better suited to your needs. You have several weeks to make the comparison and make the changes, if needed. If your current plan is satisfactory, you don’t have to do anything.
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