health plans individuals are now more accessible and affordable. As such, it is increasingly common for small business owners, their families and their employees to be covered by an individual health plan. Under the new health reform rules ( "Obamacare"), however, there are limited windows when you can buy a blanket guarantee-issue.
In this article we answer the frequently asked question, "When can I buy an individual health plan?"
when can I buy an individual health plan?
from 2014, there are two time windows ( "Entry Period") when you can buy an individual health plan. 1) during the annual open enrollment period, or 2) during a special enrollment period
Annual Open Enrollment period
as the graph below, the annual enrollment period for coverage in 2016 begins on 1 November 2015 and lasts until January 31, 2016. during this time, anyone can buy a health plan on the private market, or change plans.
| COVER YEAR | Annual Open Enrollment PERIOD |
| 2016 | November 1, 2015 to 31 January, 2016 |
| 2017 | October 15, 2016 to 7 December , 2016 |
| 2018 | October 15, 2017- December 7, 2017 |
| 2019 | October 15 2018-7 December 2018 |
| 2020 | 15 October 2019-7 December 2019 |
rating - dates are subject to change. The dates are accurate 09.15.2015.
If you are unable to purchase health insurance coverage during the annual enrollment period, you will be unable to buy coverage up that the following year, unless you qualify for a special enrollment period.
special enrollment period
a special enrollment period is a moment where you are allowed to make changes to your health insurance plan, even if it is not an open enrollment period.
to qualify for a special enrollment period, you must have a qualifying life event (aka a "trigger event"). life events that may qualify for a special enrollment period include:
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Marrying
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Having a baby
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The adoption of a child or to place a child for adoption or foster care
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Losing another health coverage
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The transition to a new permanent residence
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[citizenship Win or legal presence in the US
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incarceration Leaving
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Have a change in income or household situation affecting eligibility for tax credits of premium or sharing cuts costs
for a complete list of qualifying life events, see this article .
So, when can I buy an individual health plan?
To summarize, you can buy an individual health plan for 2016 from 1 November 2015. If you need before Medicare coverage, you may be able to buy an individual health plan if you qualify for a special enrollment period.
What questions do you have about the open enrollment period 2016 or the individual health plans? Leave a comment below.
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