Health insurance open enrollment deadline is Jan. 31

As the open enrollment deadline nears, Governor Phil Murphy, Department of Banking and Insurance Commissioner Marlene Caride, and state legislators are urging residents in need of health insurance for 2021 to sign up for a plan at Get Covered New Jersey.

Open enrollment for the state’s official health insurance marketplace, Get Covered New Jersey (getcovered.nj.gov) ends Jan. 31. Commissioner Caride reminded New Jerseyans that open enrollment is the only time during the year when residents can enroll in coverage, unless they have a major life event that qualifies them for a Special Enrollment Period or they qualify for NJ FamilyCare.

“This year there is more financial help than ever before and 8 in 10 enrolling will qualify for financial assistance to help lower the cost of a plan,” said Caride. Residents can be assured that every plan offered on the marketplace meets the high standards of the Affordable Care Act, she said.

All plans available through Get Covered New Jersey provide comprehensive coverage, including free preventive care, and coverage for emergency services, prescription drugs, pregnancy, maternity and newborn care, as well as mental health and substance use disorder services. No one can be denied coverage due to a pre-existing condition.

Get Covered New Jersey worked with Healthcare.gov to transition consumers to the state and automatically continue coverage for eligible consumers. New state subsidies under a law passed by legislators and signed by Governor Murphy, have resulted in more financial help than ever before to lower the cost of health insurance for those who qualify under the Affordable Care Act income thresholds.

New Jerseyans whose annual income is up to 400% of the Federal Poverty Level ($51,040 for an individual and $104,800 for a family of four) qualify for state subsidies in addition to the federal Advance Premium Tax Credit (APTC). The amount of financial help received by qualifying residents who have selected a plan during open enrollment is about $484 a month on average, or about $5,803 for the year. The financial help amount includes $567 a year in savings from the state subsidy per person, on top of the federal Advanced Premium Tax Credit.

The current average monthly premium for those receiving financial help is the lowest in years at $121 a month per person, down from $164 a month per person last year. For those who enroll in January, coverage will start on Feb. 1.