Key Takeaways

The enrollment period for private health insurance through the Affordable Care Act (ACA, also known as Obamacare) marketplace is going on right now, and ends, for most people, on December 15. Coverage begins January 1, 2024.

There are some specific changes for 2024, both in terms of timelines and in terms of costs. Here’s what you need to know.

Timeline Changes for 2024

If you miss the December 15 deadline, you have until January 15, 2024 to sign up. But if you wait until January, your coverage will only begin on February 1 in the federal and many state marketplaces.If you’re signing upthrough your state,check deadlines carefully, since they can vary. For example, some marketplaces are extending signup through January 16, because January 15—the birthday of Martin Luther King, Jr.—is a federal holiday.

Extra Time for Paperwork

Marketplaces automatically check trusted data sources (such as the IRS and Social Security) to verify the income of enrollees, Jennifer Sullivan, Director of Health Coverage Access at the Center on Budget and Policy Priorities, told Verywell. But if the marketplace isn’t able to verify income, you may have to show documentation.

“Previously, applicants had 90 days to provide that paperwork, but that has been extended to 150 days so that people don’t miss the deadline,” she said.

More Time on Parent Plans

Private health plans must permit young adults who are covered under a parent’s health insurance to stay on the plan until they turn 26. Starting in 2024, all federal marketplace plans will have to continue that coverage through the end of 2024. Some state marketplaces will do that as well.

Special Enrollment Periods

“Special enrollment periods give [eligible] consumers the opportunity to enroll in coverage outside of the normal open enrollment period,”Kaye Pestaina,vice president at KFF, a health research nonprofit in Washington, DC, told Verywell.

This past year, a newspecial enrollment periodallowed individuals who lost Medicaid coverage to enroll in a marketplace plan prior to November’s official open enrollment.

“During the COVID Public Health Emergency, people were allowed to stay on Medicaid even if they were no longer eligible,” Pestaina explains. “With the end of the COVID emergency [in May 2023], Medicaid enrollees are losing that coverage—called the ‘unwinding.’ If someone found out that they lost Medicaid coverage back in June, they had the opportunity to enroll in a Marketplace plan then instead of waiting for the Marketplace open enrollment that began this month. The goal is to prevent gaps in coverage.”

Here’s What To Do If You’ll Lose Medicaid Coverage When the Pandemic Emergency Ends

KFFoutlines a few examples of other new special enrollment periods:

Cost Changes for 2024

Bronze, Silver, Gold, and Platinum Health Plans

For people whose incomes are too high to qualify for financial assistance (in the form of tax credits), the 2024 cost of monthly premiums will rise, on average, 5% for silver plans and 6% for bronze plans.

There are a few state-specific marketplace plans to expect for 2024:

People with ACA coverage who receive tax credits to help pay for it must again file tax returns to be eligible for subsidies, a requirement that was paused during the pandemic. People who fail to file for two consecutive years won’t be eligible for the credits the following year.

What This Means For YouIf you don’t have health insurance through a job, Medicare, Medicaid, the Children’s Health Insurance Program (CHIP), or another source that provides health coverage, you can find coverage through the Affordable Care Act (ACA) Marketplace. Most people qualify for savings based on their income. If you are already enrolled in a marketplace plan, it’s important to be aware of a few cost and timeline changes for 2024 before you simply allow your coverage to renew.

What This Means For You

If you don’t have health insurance through a job, Medicare, Medicaid, the Children’s Health Insurance Program (CHIP), or another source that provides health coverage, you can find coverage through the Affordable Care Act (ACA) Marketplace. Most people qualify for savings based on their income. If you are already enrolled in a marketplace plan, it’s important to be aware of a few cost and timeline changes for 2024 before you simply allow your coverage to renew.

1 SourceVerywell Health uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read oureditorial processto learn more about how we fact-check and keep our content accurate, reliable, and trustworthy.Healthcare.gov.A quick guide to the health insurance marketplace.

1 Source

Verywell Health uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read oureditorial processto learn more about how we fact-check and keep our content accurate, reliable, and trustworthy.Healthcare.gov.A quick guide to the health insurance marketplace.

Verywell Health uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read oureditorial processto learn more about how we fact-check and keep our content accurate, reliable, and trustworthy.

Healthcare.gov.A quick guide to the health insurance marketplace.

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