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2023 Individual Insurance Open Enrollment Period Begins

The Open Enrollment Period (OEP) for individual insurance in 2023 began November 1, 2022, and ends January 15, 2023. Here's what people need to know.
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The Open Enrollment Period (OEP) for individual insurance in 2023 began November 1, 2022, and ends January 15, 2023. According to eHealth, during OEP people can “enroll in various major medical health insurance plans or ACA-compliant health insurance plans,” and also make adjustments to or cancel any current plans. People can go to healthcare.gov to look at plans and lower premiums and extra benefits from Advanced Premium Tax Credit (APTC).

Jae Oh, author of Maximize Your Medicare, highlights a large number of subtle changes that will affect coverages, networks, and premiums. “First of all, we're going to see more carriers per location, and I would simply describe it as the sellers, the carriers, the insurance companies becoming more used to the usage and the statistics necessary in order to be competitive,” he said. “We're [also] seeing statistics about 10% higher for healthcare costs [as well as] higher health insurance premiums.”


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For people in the insurance market for the first time, Oh encourages them to take a look at APTC out of all financial topics to consider and to understand how it works. The APTC amount could be large, reaching the thousands for many people. This money could be converted into savings and become very valuable later on.

Oh also suggests having help to navigate the different plans and APTC. “The fact of the matter is, crossing the finish line is very different, in practical terms, than just simply having the ballpark,” Oh said. “I have an idea of how much a car costs, but actually selecting the car and the trim and the details, it’s probably a good idea to have some guidance there.” There is also a free quoting tool here that he recommends that people use.

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