There was a final decision in September 2021 by U.S. Department of Health and Human Services on a new Special Enrollment Period (SEP), which grants year-round enrollment in ACA-compliant insurance plans if the household income does not exceed 150% of the federal poverty level (FPL).
This access will take place through heathecare.gov in late March 2022. If you feel that you fit into this qualified FPL, you may call Marketplace directly at 1-900-318-2596 and ask for access to the SEP. Or, you can wait until it is available and have a health insurance agent assist you through the process. If one is already helping you, they may update your account to help you change your plan or enroll.
Keep in mind, if you change plans during the year, you re-set your deductible and max out of pocket. This may mean more out of pocket for you.
You may wonder the dollars associated with this 150%... This means that a single person with no dependents can make no more than $19,320/year and for a household of four, that limit is $39,750.
For those that have received additional tax credits under the American Rescue Act, that emergency assistance will end on 03/3/12022.
If you have any updates to your income during the year, be sure to work with your insurance broker to update your account so that you are not stuck with paying back some of those tax credit funds when filing taxes in 2023 for 2022.
For more information on SEP, go to: https://www.healthinsurance.org/special-enrollment-guide/an-sep-if-your-income-doesnt-exceed-150-of-the-federal-poverty-level/
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