Open Enrollment is the period of time during a year when a groups, seniors or individuals are permitted to purchase, change or terminate insurance coverage.
For Groups, Open Enrollment refers to the time when employees are able to make additions, changes or waive their employer’s offered coverages. Fully insured carriers usually permit employers to make employee changes to elections 30 days prior to the group’s renewal date. The open enrollment window of the carrier can be flexible if there is a business reason for a different time period such as a calendar year plan, a different fiscal year, or if the group makes major plan changes. We recommend requesting prior approval, however.
Small groups that do not meet participation can purchase ACA Plans for a January 1st effective date as long as their application is received by the official Open Enrollment Period deadline (typically November 15th to December 15th each year).
Individuals and families have from November 1 to December 15th. Plans start January 1st.
For Medicare eligible people, the time period is October 15th through December 7th. Plans start January 1st. (Early shopping period begins October 1st).
ARC agents can help your active employees of Medicare-eligible age explore their options during Open Enrollment or whenever they become eligible for Medicare throughout the year.