Affordable Care Act Enrollment Periods—Clarified

Before you enroll in a health insurance plan for 2023, there are key points that you should be aware of that might affect your choices. It can be a lot to navigate health insurance enrollment on your own. That’s why I want to address some important points about the open enrollment period for the Affordable Care Act (otherwise known as the ACA or Obamacare) so that you can make the best decision for your needs this coming year.

When Is the ACA Open Enrollment Period?

The ACA open enrollment period runs from November 1st through January 15th. However, if you want to change your insurance coverage effective January 1st, then you need to complete your enrollment by no later than December 15th. 

If you don’t need your coverage to start immediately on January 1st, or if you need more time to look over the different plans and decide which is best for you, then you have until January 15th to finalize your decision. But it’s important to keep in mind that if you finish your enrollment after December 15th, then your ACA coverage will not begin until February 1st.a

ACA Insurance Plans Are Guaranteed Issue

The most significant part of Affordable Care Act plans is that they are guaranteed issue. This is a technical term which means your individual circumstances do not affect your ability to be insured. 

This means you will still be approved for an ACA insurance plan no matter what your medical history is. You could have a lengthy medical history due to severe health problems, or you could have very little medical history. Either way, you will be approved for an ACA insurance plan.

Changes to ACA Insurance Plans in 2023

Based on my experience working in insurance, I expect significant changes in 2023 to your available health insurance options. There are new insurance carriers coming into the marketplace, which gives you more variety in your choices. It’s important to look over the health insurance plans available to you and pay particular attention to the pricing and deductibles because those will change for the coming year.

Your ACA Coverage Is Tied to Your Estimated 2023 Income

Not only do you need to review your health insurance plan to ensure it will cover everything you need in 2023, but you need to look at what you expect your 2023 income will be. This is because your ACA health insurance premium cost is directly tied to your taxable income for the coming year. 

Your 2022 income is irrelevant to your 2023 ACA enrollment. This means you have to look ahead to estimate what your 2023 income will be to get the correct insurance premium costs during open enrollment. The points to consider for your 2023 income include: 

  • Will your career change?
  • Will your income change significantly from last year?
  • Will you retire?
  • Will you gain or lose a dependent?

All of these factors can affect your 2023 income and, by extension, affect your premiums when you enroll in ACA coverage. That’s why it’s important to consider these factors when you estimate your 2023 income to enroll in an ACA plan.

MBhealth Can Help You Navigate ACA Enrollment

When it comes to enrolling in health insurance under the ACA, there are a lot of options and a lot of moving parts to consider. If you need help navigating the different plan options, estimating your 2023 income, or choosing the plan that’s right for your needs, MBhealth Insurance Agency is here for you. 

You can visit our website at to check out the resources we have available. You can also call or text me at 314-544-5400 with any questions you may have or to schedule a consultation.

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