More than 330,000 New Jerseyans have so far signed up for a 2024 health insurance plan through the state’s official health insurance online marketplace, Get Covered New Jersey, state officials announced today.
Open Enrollment for 2024 health insurance ends January 31st, but residents must enroll in a plan by December 31, 2023 for coverage to take effect on January 1, 2024.
During the first five weeks of the annual Open Enrollment period from November 1st to December 5th, 330,901 New Jerseyans signed up for 2024 health coverage, including 51,432 new or existing consumers who actively selected a plan and 279,469 who were automatically renewed, according to data provided by the Department of Banking and Insurance. Overall plan selection totals are up 11.1 percent compared to this time last year.
Open Enrollment is the only time of year residents can enroll in a plan, unless they have a major life event, such as getting married, moving, having a baby, losing employer-sponsored coverage, or if they meet certain income standards that qualify them for a Special Enrollment Period.
Additionally, losing NJ FamilyCare coverage also qualifies residents for a Special Enrollment Period, and those who no longer qualify because their income is too high may be able to get help paying for premiums.
In New Jersey, there remains a requirement to have health coverage. Residents who do not qualify for an exemption from the Shared Responsibility Payment will pay a penalty at tax time.