Beginning November 1 and running through January 15, consumers may select plans at HealthCare.gov for 2023. To be sure coverage is in place at the first of the year, shoppers must enroll or renew their insurance by December 15. For those who sign up for coverage between December 16 and January 15, coverage will not kick in until February.
Anyone who misses the January 15 deadline may only sign up for a plan during a Special Enrollment Period, offered in the instance of losing other coverage, moving, getting married or having a baby.
Whether an individual is looking for coverage for the first time or considering a switch, there are a number of changes this year to be aware of when weighing options.
The Inflation Reduction Act passed by Congressional Democrats and signed into law by President Biden this year extended subsidies from the American Rescue Plan through 2025. There will also be greater financial assistance available to more consumers for 2023 plans than last year. According to the Biden administration, four out of five consumers will be able to find a plan that costs $10 or less per month after subsidies. Another change this year is that the Department of Treasury and the Internal Revenue Service (IRS) issued a new rule fixing the so-called “family glitch,” expanding tax credits to offer coverage to family members of a person with employer-based insurance that is only “affordable” for self-only coverage.