Enrollment Periods & Savings
Understand Enrollment Periods and How to Save Money on your Health
Welcome to our Enrollment and Savings page — your go-to resource for understanding how and when to enroll in health insurance, and how to make the most of financial assistance and tax-advantaged tools to reduce your healthcare costs.
Health insurance can be confusing, but we're here to simplify it. Whether you're looking to understand when you can sign up for coverage, how to save on monthly premiums, or how to use your plan to stay healthy and avoid unnecessary expenses — this guide will walk you through everything you need to know.
At TeachMeInsurance, our goal is to empower you with the knowledge and tools needed to make confident decisions about your healthcare coverage. In this guide, you’ll learn about:
- Open Enrollment and Special Enrollment Periods
- Health Savings Accounts (HSAs)
- Preventive care services that can save you money
- Subsidies and premium tax credits that can lower your costs
Let’s get started on your path to better coverage and smarter savings.
Open Enrollment
The Open Enrollment Period (OEP) is the designated time each year when individuals can sign up for a health insurance plan, renew their coverage, or make changes to their existing policy.
Special Enrollment Periods
A Special Enrollment Period (SEP) allows you to sign up for health insurance outside of the OEP if you've experienced a qualifying life event.
Saving Money on your Health
Health Savings Accounts (HSAs)
What is an HSA?
A Health Savings Account (HSA) is a tax-advantaged savings account used to pay for qualified medical expenses. You must be enrolled in a High Deductible Health Plan (HDHP) to qualify.
Benefits of an HSA:
- Tax-Free Contributions: Contributions are tax-deductible.
- Tax-Free Growth: Funds grow tax-free.
- Tax-Free Withdrawals: No taxes on withdrawals for qualified expenses.
- Rolls Over: Unused funds roll over year to year.
- Portable: The account stays with you, even if you change jobs.
Eligible Expenses:
- Doctor visits
- Prescriptions
- Dental and vision care
- Mental health services
Preventive Care (How It Saves You Money)
What is Preventive Care?
Preventive care includes routine checkups, screenings, vaccines, and counseling services that help you stay healthy and catch potential health issues early.
Covered Services (typically at no extra cost):
- Annual physicals
- Blood pressure, cholesterol, and diabetes screenings
- Immunizations (flu shots, COVID-19 vaccines, etc.)
- Mammograms and cancer screenings
- Birth control and family planning services
Why It’s Important:
Preventive care helps avoid costly emergency visits, chronic disease management, and major surgeries down the road. Most Marketplace and ACA-compliant plans cover preventive services at no additional cost to you.
Subsidies and Premium Tax Credits
What Are They?
Subsidies and Premium Tax Credits help lower the cost of health insurance for people with moderate to low incomes. These financial aids are based on your household income and size.
Types of Assistance:
- Premium Tax Credits: Reduce your monthly premium payments.
- Cost-Sharing Reductions (CSRs): Lower your out-of-pocket costs (available with Silver plans).
Who Qualifies?
You may qualify if your income is between 100% and 400% of the Federal Poverty Level (FPL). In some states, subsidies are available for incomes over 400% FPL.
How to Apply:
- Through the Health Insurance Marketplace
- With the help of a licensed insurance agent (like us!)