Selecting a health insurance plan is never easy, yet each fall millions of New Jersey residents are faced with that very decision. Factors include cost, coverage, and healthcare needs, and a wrong choice could leave customers without protection in a medical crisis.
“Open enrollment period” refers to the timeframe in which most insurance customers must sign up for a new plan, or are eligible to switch coverage, without being penalized. There are some exceptions for those who lose their jobs or have other status changes.
While customers may not be required to take action, experts encourage customers to review their options; given the evolving marketplace, they may find lower-cost policies or better coverage than in the past. A recent federal analysis found as many asare paying full price for health insurance when they are actually entitled to subsidized care under the 2014 Affordable Care Act.