Once a year, most people have the opportunity to review their health insurance and make changes to their coverage—a period known as open enrollment. Whether you get your health insurance through an employer or purchase it through the health insurance marketplace, open enrollment is your window to reassess your needs, compare plan options, and make adjustments before a new coverage year begins. Taking the time to understand how open enrollment works—and what to look for—can help you make choices that better align with your healthcare needs and budget.
When Does Open Enrollment Occur?
The timing of open enrollment depends on how you receive your health insurance:
- Marketplace (ACA) Plans: The federal health insurance marketplace typically holds open enrollment in the fall, generally running from November 1 through January 15 for coverage that begins the following year. Some states that run their own marketplace may have different dates.
- Employer-Sponsored Plans: Employers set their own open enrollment windows, which vary by company but often occur in the fall as well, typically lasting a few weeks.
Outside of open enrollment, you can only make changes to your health insurance if you experience a qualifying life event—such as losing other coverage, getting married, having a baby, or moving to a new area.
Key Questions to Ask Before Selecting or Renewing a Plan
Rather than automatically renewing your current plan, open enrollment is a good time to ask:
- Have my healthcare needs changed this year? (New prescriptions, planned procedures, or new providers)
- Is my preferred doctor or specialist still in network?
- Have the plan’s premiums, deductibles, or copays changed?
- Do I use my current plan’s benefits, or am I paying for coverage I rarely need?
- Are there other plans available that may offer a better balance of cost and coverage for my situation?
Understanding Plan Types
If you’re comparing plans during open enrollment, you may encounter several common plan structures:
- HMO (Health Maintenance Organization): Typically requires you to choose a primary care physician and get referrals to see specialists. Usually limited to in-network providers.
- PPO (Preferred Provider Organization): Offers more flexibility to see any provider, in or out of network, without referrals—usually at a higher premium.
- EPO (Exclusive Provider Organization): Similar to an HMO in that it limits coverage to in-network providers, but typically doesn’t require referrals.
- HDHP (High-Deductible Health Plan): Features lower premiums but higher deductibles. Often paired with a Health Savings Account (HSA) that allows you to set aside pre-tax funds for medical expenses.
Avoiding Common Open Enrollment Mistakes
A few common mistakes can result in coverage that doesn’t quite fit your needs:
- Missing the deadline: If you miss open enrollment without a qualifying life event, you may be without coverage or locked into your current plan for another year.
- Focusing only on premiums: A lower monthly premium can be appealing, but a high deductible or narrow network might cost more in practice if you use healthcare services frequently.
- Not checking your prescriptions: Make sure any medications you take regularly are covered under the plan’s formulary at a cost you can manage.
- Skipping dental and vision: If these aren’t included in your medical plan, open enrollment may be the time to add supplemental coverage.
Want help reviewing your health insurance options before open enrollment closes? Contact Murray Insurance Agency in Lake Mary, Florida at (407) 332-0909 or fill out our online form—we’re happy to help you explore your options.
