Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Life Health > Health Insurance > Your Practice

Mass. Sets Health Plan Sign-Up Dates

X
Your article was successfully shared with the contacts you provided.

Massachusetts is reminding residents the new enrollment period for individual health care plans becomes effective after Nov. 30.

As part of an effort to cut health care costs for small businesses and families, the state enacted individual health care insurance this year.

Previously, eligible individuals in the state could buy individual health policies at any time. According to the state’s Division of Insurance, that created a problem when it turned out some would buy insurance only when they needed medical services and then would drop coverage after the insurance paid for the treatment. This caused health insurance rates to increase.

Under the new law, eligible individuals will be able to buy coverage during the following open-enrollment periods: for 2011, Jan. 1-Feb. 15 and July 1-Aug. 15; and for 2012 and thereafter, July 1-Aug. 15.

Certain individuals, such as the self-employed or those who recently lost employment-sponsored or government-sponsored coverage, can continue to purchase coverage outside of the open enrollment periods.

Once a valid application is submitted, carriers are required to make coverage effective within 30 days of receipt, the division notes.

-Trevor Thomas


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.