The federal Affordable Care Act (ACA) exchange provides access to ACA-approved health insurance plans in a central online location. Employer-provided healthcare options must also be ACA-compliant.
Open enrollment for 2023 health plans started November 1, 2022, and goes until January 15, 2023. If individuals want healthcare coverage through the marketplace starting on January 1, 2023, they must enroll in a plan by December 15, 2022.
Whether you are a business owner shopping for ACA-compliant healthcare plans for your company’s benefits package or an individual searching for health coverage, contact Sunstar Insurance Group in Memphis, Tennessee, today.
What Is an Open Enrollment Period?
Tennessee provides an open enrollment period to allow eligible state residents to apply for and get healthcare coverage from an insurer providing ACA-compliant health plans. Your health plan choices depend on where you live. Consumers have two or more insurance choices on the marketplace across all 95 counties in Tennessee.
Tennessee participates in the federal open enrollment period for ACA-approved healthcare. If you enroll in a health insurance plan through the marketplace exchange between November 1, 2022, and December 15, 2023, your coverage starts January 1, 2023.
What Is a Special Enrollment Period (SEP)?
You may also be able to sign up for health insurance outside of Tennessee’s open enrollment period. Specific life events may trigger an exception to Tennessee’s open enrollment rules. You could be eligible for a SEP under the following conditions:
- Your household income is below a certain amount.
- You are having a baby or adopting a child.
- Someone on your marketplace plan died, causing you to lose your current health plan.
To find out if you may qualify for a SEP, please contact us today.
What Are the Different Types of Health Insurance in Tennessee?
Depending on your situation, you may be able to access private or public health care coverage. Public health care options may include Medicaid, Medicare, CHIP and VA coverage.
Private health insurance plans may be available through your employer if health insurance coverage is part of the benefits package. Employers generally host open enrollment on an annual basis, during which you can elect your coverage. If you qualify for a SEP, you may be able to enroll in your employer’s plan outside of open enrollment. You may also be able to shop from multiple health insurance options in the marketplace. Private health insurance plans may differ from marketplace plans and may not be ACA-compliant. Talk with your agent about how best to compare your options.
What Is an ACA Health Plan?
The Affordable Care Act (ACA) requires qualified health plans (QHPs) to cover pre-existing conditions and adhere to cost-sharing limits. The ACA bans lifetime and annual benefit limits.
The ACA’s minimum essential coverage standards require marketplace exchange plans to provide 10 essential healthcare benefits:
- Chronic disease management and preventive and wellness services
- Laboratory services
- Pediatric services, including vision and oral care (adult vision and dental coverage isn’t considered an essential health benefit under the ACA)
- Habilitative and rehabilitative services
- Substance use disorder and mental health services
- Newborn, maternity and pregnancy care
Contact Sunstar Insurance Group to get help choosing a health insurance plan to meet your family’s future needs.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.