“Open Enrollment” is basically a household word now, but there is still lots of confusion, especially this year with all the changes going on. Here’s a recap of why the next two months are critical for which healthcare you’ll be enrolling in for 2021.
Individual health insurance is a health policy that you can purchase for just yourself or for your family. Individual policies are also called personal health plans. Open Enrollment is the period every year when individuals and families can enroll in a health insurance plan. This is the opportunity to switch plans, add family members, and apply for financial aid. In most states, Open Enrollment runs from November 1st to December 15th, but in New Jersey, the deadline isn’t until January 31st. You don’t want to miss this because you will not be able to upgrade or switch plans unless you have a qualifying event.
Get Covered NJ – New Marketplace
The good news New Jersey is on a new marketplace, and it’s called Get Covered NJ. Cosmo Is your preferred local assistance for Get Covered NJ. There is an array of good individual health care options available for you from various reputable carriers. We at Cosmo know these options inside out and will guide you towards the best one for you.
Also, keep in mind if you have an existing plan from healthcare.gov and are typically auto-renewed in coverage, you will be auto-enrolled in the same or similar plan for 2021 on Get Covered NJ. This is the only place where you can apply for financial help (subsidy) to lower the cost of your health insurance monthly premiums. Eligibility for a subsidy is based on the applicant’s household income.
What Information Is Need To Enroll In A Health Insurance Plan
Cosmo provides a safe way to enroll for health insurance this year, you can online or over the phone.
- Name, social security number, birthday, address, and email address
- Household size and income. Only if you’re planning to apply for premium subsidies. You can use pay stubs, W2s, and your most recent tax return to prove your income.
- Payment information that will be used to charge your insurance premiums.
- Your doctors’ names and zip codes so that you can make sure they’re in-network with the health plans you’re considering.
- A list of medications taken by anyone who will be covered under the policy, so that you can check to see which one will best cover the medications you need.
- Suppose you want to enroll in a catastrophic plan and you’re 30 or older. In that case, you’ll need a hardship exemption.
There are two dates that your health insurance plan can take effect, either January 1st,2021, or February 1st, 2021. For your insurance to take effect on January 1st you would have to enroll by December 31st,2020, and to be effective for February 1st you need to enroll by January 31st, 2021.
Plans and rates change each year, so you could be saving money. Make sure you compare plans during open enrollment. A little time and effort now can make a great difference throughout the next year, both financially and with your healthcare quality. We are proud to share that we have representatives fluent in Spanish, Mandarin, and Cantonese.
Just give Cosmo Insurance Agency a call. We will simplify the process for you!
Cosmo Insurance Agency is a full-service independent insurance agency based in Hackensack (Bergen County) and Lakewood (Ocean County), New Jersey that offers an all-encompassing range of insurance options for both individuals and businesses. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating our knowledge of the insurance guidelines for healthcare, employee benefits, life insurance, self-insurance, dental, disability, and long term care insurance, we keep our clients up-to-date with affordable plans that cover all their specific insurance needs.