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Healthcare Defined: “Open Enrollment Period”

By SingleCare Team | August 3, 2016

Sometimes, healthcare can seem like a whole different language. In this series, we break down some common healthcare terms into plain English.

Open Enrollment Period (noun) — A yearly time period, usually in Q4, when Americans can enroll in a health insurance plan for the upcoming year, either on their state’s health insurance exchange or marketplace or through their employer, whether they’ve had insurance the year before or not.

Every October, health insurance is highlight of conversation at work and on the news. People are asking themselves, “Which insurance plan will fit my life best?” This isn’t a coincidence. Once a year, Americans have a chance to re-evaluate their health insurance plan or sign-up for one during Open Enrollment Period, which usually lasts from November until the end of January.

What does this mean for you? Let’s break it down.

You have to renew your health insurance plan every year. During Open Enrollment, you have to decide whether to stick with your current health insurance plan or shop for a new one. Note that many health insurance companies can have changes in their plans’ offerings around provider network, co-pays, co-insurance and drug coverage, so even if you are renewing last year’s plan, you should review the fine print to make sure any updates made align with your wellness journey.

Since Obamacare was implemented in 2010, Open Enrollment Period has transformed into a national event as each citizen, employed or not, can get health insurance. This year, from November 1 until January 31, 2017, millions of Americans will sign-up or a renew a plan via their state’s health insurance marketplace.

More specifically, if you sign-up for a plan:

Between November 1, 2016, and December 15, 2016, your coverage will start January 1, 2017.
Between December 16, 2016, and January 15, 2017, your coverage will start February 1, 2017.
Between January 16 and January 31, 2017, your coverage will start March 1, 2017.

If you receive health insurance from your employer or spouse, the Open Enrollment Period might differ from the federal timeline. But usually your employer will renew their insurance in the third or fourth quarter. Be sure to ask your HR representative to confirm.

Nevertheless, all Americans should mark their calendars with Open Enrollment Period, as there can be fines for not having health insurance. And, if you miss the Open Enrollment Period, you’ll have to wait for a year to sign-up unless you qualify Medicaid or the Children’s Health Insurance Program (CHIP).

Either way, at SingleCare, we believe in streamlining both your patient experience and day-to-day life, overall. Members don’t have to worry about an enrollment period or deadlines — they can shop around for healthcare services at rates up to 50 percent less than our competitors 24/7/365, regardless of their insurance coverage. What’s more, you don’t have to pay anything to sign-up. You can become a SingleCare member today.

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* Prescription savings vary by prescription and by pharmacy, and may reach up to 80% off cash price.

This is a medical discount plan.This is NOT insurance. This program offers you the opportunity to locate providers of various types of medical services who will offer their services to you at discounted rates. The range of discounts for medical or ancillary services provided under the plan will vary depending on the type of provider and service received. You are fully responsible for paying for all health care services but will be entitled to receive a discount from those health care providers in accordance with the specific pre-negotiated discounted fee schedule. This program does not guarantee the quality of the services or procedures offered by the providers. Except for prescription drugs which you will pay directly to the pharmacy at the time of purchase, all other services received through a program provider will be charged to the credit card on file in your member account. The charge will include an administrative fee for use of the program. Towers Administrators LLC is the licensed discount medical plan organization with its administrative office located at 4510 Cox Road, Suite 111, Glen Allen, VA 23060. SingleCare Services, LLC is the marketer of the discount medical plan organization including its website, singlecare.com, with its corporate office located at 99 High Street, Suite 2800, Boston, MA 02110. For additional information, including an up-to-date list of providers, or assistance with any issue related to program membership, please contact member support any time at www.singlecare.com, or by calling toll-free 844-234-3057, Monday through Friday 9am-9pm EST.