Open Enrollment
The annual period during which individuals can enroll in or change their health insurance coverage.
What is Open Enrollment?
Open enrollment is a fixed window of time each year during which individuals may enroll in a health insurance plan, switch plans, or make changes to their current coverage. Outside this period, enrollment is generally not permitted unless the individual experiences a qualifying life event — such as marriage, divorce, the birth of a child, job loss, or relocation — which triggers a Special Enrollment Period (SEP). For employer-sponsored plans, open enrollment typically occurs in the fall for coverage beginning January 1. For plans purchased through the ACA Marketplaces, the federal open enrollment period generally runs from November 1 through January 15 for coverage beginning the following year.
Example
An employee working at a company with a November open enrollment window has 30 days to review plan options, compare premiums and deductibles, add or remove dependents, and elect an FSA or HSA contribution. Failing to act during open enrollment locks them into their existing plan for the full year, unless they later experience a qualifying life event.
Source: Centers for Medicare & Medicaid Services — Open Enrollment