To begin, keep in mind these key points about health insurance in Tennessee:
1. Tennessee open enrollment has ended, but you may be able to use a special enrollment period to get covered.
In Tennessee, open enrollment for 2023 Affordable Care Act (Obamacare) coverage has ended. This means that, unless you qualify for an exception or your income is low enough for Medicaid, you won't be able to get health insurance through Healthcare.gov until open enrollment for 2024 begins next fall.
If you’ve lost your job or significant income in the past 60 days, you might qualify for a special enrollment period (SEP). A SEP allows you to sign up for a new health insurance plan or change your current one outside the open enrollment window.
2. If you lose Medicaid or CHIP coverage due to the end of federal pandemic protections, there's a SEP just for you.
The federal government will initiate an "Unwinding SEP" on April 1, 2023 for those kicked off of Medicaid or CHIP due to expiring COVID-related policies. Losing Medicaid or CHIP coverage always makes you eligible for a 60-day Special Enrollment Period, but this SEP lets you enroll in an ACA plan for up to 16 months, through July 31, 2024.
3. You won’t face a tax penalty for going without health insurance in 2023—but there are big downsides to being uninsured.
Obamacare’s tax penalty went away in 2019. That means that if you don’t have health insurance, you won’t have to pay a penalty when you file your federal income taxes. That said, think about whether it makes sense to forego health insurance. A medical crisis could knock the financial wind from your sails and do more damage than the penalty. (A study published in 2019 showed that a lapse in health insurance coverage can double a person's chances of ending up in bankruptcy.)
4. You may qualify for new Affordable Care Act subsidies.
In 2021, President Biden signed the American Rescue Plan Act (ARPA). The law provided $1.9 trillion of federal aid to Americans struggling with the COVID-19 crisis, including additional premium subsidies for those who purchase health insurance through Healthcare.gov. In 2022, the Inflation Reduction Act extended these more generous subsidies through 2025. Here’s a quick summary of the types of available subsidies.
Federal tax credits. Under ARPA, no one will have to pay more than 8.5% of their household income for a mid-level plan purchased from Healthcare.gov. Technically, the subsidies are tax credits, but you can choose to have them automatically deducted from the cost of your monthly premiums.
Cost-sharing subsidies. More than half of the people who purchase coverage through Healthcare.gov receive assistance through cost-sharing reductions (CSRs). CSRs automatically reduce your premiums and lower your costs when you use your insurance benefits—for example, when you go to the doctor, get lab work, or have to stay in the hospital.
CSRs are available to people who make between 100% and 250% of the federal poverty level. (For 2023 health plans, that means a family of four in Tennessee can't earn more than $75,000 and an individual not more than $36,450.) But these benefits are available only on silver plans. If you think you may qualify, look carefully at the costs for silver plans available at Healthcare.gov while shopping for coverage.
Medicaid. You may qualify for free or low-cost coverage through TennCare in Tennessee if your income is very low.
All subsidies will be automatically calculated when you apply for a plan through Healthcare.gov.
5. Average premium rates went up for 2023, but that doesn't mean everyone is paying more.
Nationwide, the average rate increase for 2023 health plans was about 7.7%. However, these numbers aren't final; more importantly, this doesn't tell you how much you'll pay for health insurance. Costs vary from state to state and plan to plan within a state. For example, premiums increased an average of more than 8% in Texas, while Virginians generally saw a decrease of 13%. Also, when premiums for the benchmark plan (the plan used to determine subsidy amounts) go up, subsidies go up, too. This is a long way to say don't let the numbers get you down. Comparison shop at Healthcare.gov to find the plans and subsidies available to you.
6. Avoid short-term insurance plans that don’t comply with the ACA.
In 2018, the Trump administration made purchasing short-term insurance plans easier. Short-term plans don’t have to cover preexisting conditions or the essential health benefits provided by Obamacare plans. In the past, short-term plans were allowed to last only three months, but under new rules, you can purchase a non-ACA-compliant “short-term” plan that lasts as long as three years.
If you’re genuinely caught without health insurance and need it for a few months to cover a new health condition, you might want to consider a true short-term plan to get you through to the next open enrollment period. Otherwise, be careful of plans that don’t meet the requirements of the Affordable Care Act, and shop around to look for coverage that truly meets your needs.
Remember, if your income is very low, you may qualify for free or low-cost coverage through TennCare in Tennessee.
7. You can get help signing up if you need it.
The Biden administration has greatly increased enrollment assistance, making it much easier to get the information you need to get covered. To connect with local support resources, see How To Sign Up for Obamacare in Tennessee.
For 2023 health plans, Tennessee open enrollment has ended. However, you may still be able to purchase health insurance for this year if you qualify for a special enrollment period. For example, if you’ve recently lost your job or significant income, you might qualify for a 60-day special enrollment period that will allow you to sign up for a new health insurance plan. (See What Happens If I Missed the Enrollment Deadline?)
To get covered, you can go directly to the online health insurance marketplace for Tennessee. If you need personalized help, you can reach out to an enrollment assistant. Most enrollment helpers are working remotely during the COVID crisis.
Where's the Tennessee Health Care Exchange?
You can find the health insurance exchange for Tennessee atHealthcare.gov. This is where you can learn about the various health insurance options available to you under the Affordable Care Act. If you see a plan you like, you'll be guided through the enrollment process online.
This article explains the costs of health care plans offered under the Affordable Care Act (commonly called Obamacare) for individuals or families who are currently uninsured or not covered by a job-based health plan.
What you'll pay for an Obamacare plan depends on five things:
The level of coverage you choose
Whether you qualify for a subsidy
Where you live in Tennessee
Whether you smoke
Read on to learn more about each of these factors.