Now is the Time to Pick Health Coverage for Next Year
When can I enroll?
This year’s Open Enrollment Period runs for six weeks, from November 1 through December 15. It is the only time during the year when you can enroll in coverage, unless you experience a major life event (such as having a baby, moving, or losing or changing jobs) that qualifies you for special enrollment OR if you’re eligible for the state’s NJ FamilyCare program, in which you can enroll year-round.
How much will insurance cost and can I really afford it?
This year, health plan rates are down in New Jersey. And you might receive financial help to lower the cost of your plan. Last year, about 8 out of 10 New Jersey residents purchasing on the Marketplace received a tax credit to pay for their plan. Plans and prices change every year, so it’s important to check out your options to ensure you find the plan that fits your needs and your budget.
Is financial assistance available to help lower the cost of my plan?
Last year, nearly 200,000 New Jerseyans got a tax credit to help pay for their plan. In New Jersey, a family of four earning up to about $100,400 a year and an individual earning up to about $48,560 a year can qualify. In fact, last year the average individual saved $442 a month with a tax credit. Visit GetCovered.NJ.gov to learn more.
Is there still a requirement to have health insurance in New Jersey?
Yes. New Jersey is committed to making sure health insurance is available and affordable to all residents. To help with this, the state has kept in place a requirement for New Jersey residents to have health coverage or make a shared responsibility payment. Making sure all residents have health coverage helps ensure there are more health plans available for consumers to pick from, that premiums remain affordable, and that comprehensive coverage is available for all who need it – including people with pre- existing conditions. Any funds from this penalty collected by the state are dedicated to reducing the cost of health insurance for individuals. Through New Jersey’s efforts to stabilize our insurance market, we’ve seen a nearly 10 percent drop in health insurance premiums this year alone.
I want to protect my family — I’m ready to enroll in coverage but still have questions. Where can I find help?
Free help is available to find a health insurance plan that’s right for you. You can find a trained assister in your community at GetCovered.NJ.gov or call 877-9-NAVIG8 (877-962-8448) to talk about your health insurance options and get help enrolling.