The Affordable Care Act (ACA) enrollment deadline has been extended, giving millions of Americans three extra days to secure health insurance coverage starting January 1. This last-minute gift is a critical opportunity for those who missed the original December 15 cutoff. Here is everything you need to know to take advantage of this extension and ensure your coverage for the new year.
What is the new ACA enrollment deadline?
The new deadline to enroll in ACA marketplace plans is midnight local time on Wednesday, December 18. The Centers for Medicare & Medicaid Services (CMS) announced the extension to give people extra time to shop for plans that fit their needs and budgets. If you enroll by this extended deadline, your coverage will begin on January 1, 2025.
For those who miss this date, coverage will not start until February 1, leaving a gap in health insurance. Do not let this opportunity pass if you need coverage immediately in the new year.
Who qualifies for the ACA plan extension?
This enrollment extension is open to everyone who qualifies for ACA coverage, including new customers and those renewing their existing plans. If you are uninsured or considering switching plans, this is your chance to explore your options without rushing.
CMS spokespersons emphasize that millions of Americans can save money or gain better coverage through the marketplace. So whether you are uninsured or unhappy with your current plan, it is worth taking another look during this extension.
Why did CMS extend the ACA enrollment deadline?
The extension comes as enrollment numbers for the upcoming year are lower than expected. According to Noah Lang, CEO of Stride, new enrollees are down by 32% compared to last year. He explained, “This extra three days gives people time to shop. Millions of people are still not insured or can save money.”
Several factors might have contributed to the slower enrollment, including concerns about rising premiums and the timing of the original deadline, which fell on a Sunday. The extra time allows people to act during the workweek and potentially avoid a lapse in coverage.
How to enroll in an ACA plan before the deadline
Enrolling in an ACA marketplace plan is straightforward, but you need to act quickly. Here is what to do:
- Visit HealthCare.gov or your state’s marketplace website to browse plans.
- Compare your options based on premiums, deductibles, and coverage needs.
- Input your details to see if you qualify for subsidies or premium tax credits, which can significantly lower your monthly costs.
- Complete your enrollment by the midnight December 18 deadline.
You can also use trusted partners like Stride to simplify the process. These tools help you compare plans and ensure you select one that meets your specific needs, such as covering your preferred doctors or prescriptions.
Will premiums or coverage change in 2025?
If you are worried about premium hikes or coverage changes, do not be. According to Lang, “Plan options and prices are locked in for 2025. Coverage will not change, and ACA credits will not change.” The average premium increase for ACA plans is around 7%, according to ValuePenguin.com, but subsidies often offset these increases for many Americans.
Now is the time to secure health insurance that protects your health and finances for the upcoming year. With just three extra days, the clock is ticking, so do not wait too long to make your move.
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