Gov. Phil Murphy announced Monday that the state will offer a special enrollment period for Get Covered New Jersey, the state-based health insurance marketplace, enabling residents to get insurance until May 15.
The extended period is a direct response to the COVID-19 pandemic.
The state said many residents are finding discounts. Click here for more information on pricing and plans.
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.
The amount of financial help received by qualifying residents who selected a plan during open enrollment is about $484 a month on average, or about $5,808 for the year. The financial help amount includes $564 a year in savings from the state subsidy per person, on top of the federal Advanced Premium Tax Credit.
Because of the availability of state subsidies, the net premium for 2021 is the lowest since the implementation of the federally facilitated marketplace, healthcare.gov, and availability of federal tax credits for individuals receiving financial help. The currently average monthly net premium for those eligible for financial help is $121 a month, compared with $164 a month in 2020 and $148 a month in 2014.
Coverage will begin at the start of the month following signup. More specifically:
- Enroll by Feb. 28, coverage is effective March 1;
- Enroll by March 31, coverage is effective April 1;
- Enroll by April 30, coverage is effective May 1.
In addition to the ability to enroll through the COVID-19 special enrollment period, New Jerseyans can make updates to health plans or enroll in a new health plan for other reasons, including birth or adoption of a child and pregnancy.
Murphy and Department of Banking and Insurance Commissioner Marlene Caride are urging residents who still need coverage to explore their options at GetCovered.NJ.gov.
“We are incredibly pleased to see more residents obtaining health coverage through our new state-based marketplace during this critical time period,” Murphy said. “In line with the proactive steps taken by the (President Joe) Biden administration, New Jersey recently expanded our enrollment window to ensure that our residents have ample opportunity to access the high-quality, affordable coverage that is so important to their health and well-being.”
The state of New Jersey transitioned from using healthcare.gov to its own marketplace last year, holding its first open enrollment period from Nov. 1 to Jan. 31 of this year.
Murphy said enrollment in Get Covered New Jersey, which was introduced last fall to offer more choices, increased 9.4% over last year’s Affordable Care Act Open Enrollment Period during the traditional enrollment period.
During open enrollment, 269,560 residents signed up for 2021 health coverage through Get Covered New Jersey, including 75,749 new consumers. A total of 216,813 residents — or 8 in 10 consumers — received financial help.
More information on the COVID-19 Special Enrollment Period may be found on the Get Covered New Jersey website. Residents can shop and compare plans and see if they qualify for financial help to pay for a plan here.