On January 28, 2021, the Division of Insurance announced that the state will open its marketplace for enrollment. The announcement was made in conjunction with the federal government announcement that it would open the federal marketplace, as reported elsewhere in this edition of Compliance Corner.
The standard open enrollment period for the state marketplace ended on January 15, 2021. The marketplace will be reopened from February 8 through May 15, 2021, to enroll more state residents who do not have health insurance through their employers.
While this change will affect individuals that will enroll on the marketplace, employers should be mindful of this extension in case there are employees who seek to drop coverage under their plans to take advantage of the marketplace’s special open enrollment period. Specifically, the permissible qualifying event for a revocation due to enrollment in a qualified plan will allow an employee to drop their employer’s plan mid-year if they intend to enroll in the marketplace.
State announcement »
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