When Is Open Enrollment 2024? Key Dates and Tips for Choosing the Right Health Plan
Plus find out how to avoid some of the most common mistakes
When it comes to health insurance, you want the best coverage for your needs. Whether you’re updating your employer-sponsored insurance plan, comparing marketplace plans or enrolling in Medicare, understanding 2024 open enrollment deadlines is key. So we turned to the healthcare experts to learn all the need-to-know info regarding open enrollment and tips for signing up.
What is open enrollment?
In general, “open enrollment for the Health Insurance Marketplace is the one designated period each year when you can elect, renew or make changes to your health insurance coverage for the upcoming year without a qualifying life event,” says Joseph Kleiman, CFO and COO at BuzzRx. What are qualifying life events? “These could be a marriage or divorce, the birth or adoption of a child, a move to another state, a change in employment or loss of health insurance coverage.”
It’s during this time that you can choose, renew or change your health insurance benefits. Some plans also offer health coverage for prescriptions, dental and vision. Kleiman adds that there are options available for supplemental or add-on insurance benefits, which might include services such as hearing and eye exams or dental cleanings, which aren’t always included.
Woman's World Answers
Those using Medicare have a separate enrollment window where they can renew, purchase or change their plans. (More on that below)
When is open enrollment 2024?
The open enrollment period began on November 1, 2024, and ends on January 15, 2025. However, Kleiman notes that there are some important variations of this timeline depending on which state you are enrolling in. “Some states such as Idaho already began enrollment in October, and others such as Massachusetts, California, New York, New Jersey and Rhode Island close enrollment at the end of January 2025.
You can visit HealthCare.gov to find the specific open enrollment period for your state.
Medicare open enrollment runs from October 15 through December 7. “If you are electing private health insurance coverage through your employer, it is important to confirm with them what their open enrollment window is, as they likely have their own timeline,” says Kleiman.
Why open enrollment 2024 is so important
Open enrollment only occurs once a year, so enrolling in coverage through the marketplace or your employer will ensure you have health care for the upcoming year starting in January. “The most significant effect is for people with pre-existing conditions,” explains Tayler Busack, a licensed health insurance agent at AZ Health Insurance Brokers. “If open enrollment is missed, your options and access to coverage will differ depending on your location.”
It’s also an important time for those purchasing or electing health insurance benefits outside of an employer-sponsored plan. Typically, more affordable coverage will be available at this time.
Get familiar with the health insurance basics
Understanding what type of coverage you need during open enrollment is vital. Kleiman says many terms are being discussed during this time.
“Jargon, such as Health Maintenance Organization (HMO), Preferred Provider Organization (PPO), premium and deductible—to name a few—and categories such as Bronze, Silver, Gold and Platinum are often used,” he says. “It is important to not only understand what they mean but also what they mean for your unique situation so you can understand which plan makes the most sense for you and your family.”
The categories vary based on the insurance provider and what they offer and bronze is typically the least expensive with fewer benefits, but price and benefits increase with each level.
You can check out health insurance basics here, or ask your employer if you need help understanding the difference between the available healthcare plans.
Busack adds that open enrollment undergoes small yearly changes, so it is important to make sure your information and policies are up to date.
Mistakes to avoid during open enrollment 2024
When you participate in open enrollment, Busack notes that many people forget to update their income. “Make sure your income is up to date, as you want to avoid paying any tax credits back,” she says.
Have a regular physician you want to keep seeing? “It’s important to verify that your doctor will continue to accept your plan,” Busack says. That’s because insurance carriers’ networks can change from year to year, and a doctor who was once in-network may be out of network next year.
Lastly, Kleiman suggests paying close attention to the deductible. “Sometimes when you see a lower premium available for a health insurance plan, it is easy to forget that a high deductible may offset this price.” If you anticipate using a lot of healthcare services or filling a lot of prescriptions, “a higher premium or higher coinsurance may be worth less expensive out-of-pocket costs throughout the year,” he says.
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