The answer to your question will vary somewhat depending upon where you are getting your health insurance. Are you a new employee anticipating your employer based coverage? Or, are you a person looking for a personal, individual major medical insurance plan?
After January 1, 2014 in the employer based setting and under the requirements of the Affordable Care Act, once you are hired as a full-time eligible employee or your hours are increased to full-time status, then the employer cannot have a waiting period that exceeds 90 calendar days from the date you become eligible. So, an employer can have a waiting period of anywhere from "date of hire" to the 90 calendar days from date of hire. For administrative and payroll keeping purposes I am finding most employers are opting for a policy on a new hire becoming eligible for coverage on the "first day of the month following 60-days".
In the individual health insurance world we do have to keep the new open enrollment periods in mind and how failure to enroll during this annual election period can impact a person's eligibility for health insurance coverage between open enrollment times. In other words, if you "just didn't get around to it" and you've had no change of life status event since open enrollment closed then you can't take out a major medical health insurance policy until the next open enrollment period for a 1st of the year start date at best. (If you qualify you can take out a Short Term Medical policy to carry you through until then)
Assuming yours is a normal individual major medical enrollment then the following rules of thumb apply to when your effective date of coverage is supposed to be;
1) Completed enrollment form submitted on or before the 15th of the month will be for an effective date of coverage of the first day of the next month. For example, an enrollment submitted on December 10th would be for an effective date of January 1st.
2) Completed enrollment form submitted after the 15th of the month will be for an effective date of coverage of the first day of the following month. For example, an application is submitted on December 20th would be for an effective date of February 1st.
Open enrollment season for 2015 begins on November 15th, 2014 and runs through February 15th, 2015.
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Short-term plans can be approved within 24 hours...or instantly, depending n the carrier. They are not considered Obamacare plans.
Otherwise, when you apply for Exchange plans under Open Enrollment, the effective date depends upon when you apply. Of course, getting the lowest rate is, of course, important.
LIVE answer provided by: Ed Harris - Premier Health Insurance Broker for 33 years and owner of several top-rated websites.
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After January 1, 2014 in the employer based setting and under the requirements of the Affordable Care Act, once you are hired as a full-time eligible employee or your hours are increased to full-time status, then the employer cannot have a waiting period that exceeds 90 calendar days from the date you become eligible. So, an employer can have a waiting period of anywhere from "date of hire" to the 90 calendar days from date of hire. For administrative and payroll keeping purposes I am finding most employers are opting for a policy on a new hire becoming eligible for coverage on the "first day of the month following 60-days".
In the individual health insurance world we do have to keep the new open enrollment periods in mind and how failure to enroll during this annual election period can impact a person's eligibility for health insurance coverage between open enrollment times. In other words, if you "just didn't get around to it" and you've had no change of life status event since open enrollment closed then you can't take out a major medical health insurance policy until the next open enrollment period for a 1st of the year start date at best. (If you qualify you can take out a Short Term Medical policy to carry you through until then)
Assuming yours is a normal individual major medical enrollment then the following rules of thumb apply to when your effective date of coverage is supposed to be;
1) Completed enrollment form submitted on or before the 15th of the month will be for an effective date of coverage of the first day of the next month. For example, an enrollment submitted on December 10th would be for an effective date of January 1st.
2) Completed enrollment form submitted after the 15th of the month will be for an effective date of coverage of the first day of the following month. For example, an application is submitted on December 20th would be for an effective date of February 1st.
Open enrollment season for 2015 begins on November 15th, 2014 and runs through February 15th, 2015.
Short-term plans can be approved within 24 hours...or instantly, depending n the carrier. They are not considered Obamacare plans.
Otherwise, when you apply for Exchange plans under Open Enrollment, the effective date depends upon when you apply. Of course, getting the lowest rate is, of course, important.
LIVE answer provided by: Ed Harris - Premier Health Insurance Broker for 33 years and owner of several top-rated websites.