When it comes to health insurance, a fixed enrollment period is a set time frame during which you can enroll in a new plan or make changes to your existing coverage. This period typically lasts for about three months and usually occurs at the beginning of each year. However, some insurers may also offer special enrollment periods outside of this window if you experience a qualifying life event, such as losing your job or getting married.
If you miss your chance to enroll in coverage during the regular open enrollment period, you may have to wait until the next one rolls around before you can get covered. This could leave you without health insurance for several months, which could be a risky proposition if you experience an unexpected illness or injury. That's why it's important to understand when the next open enrollment period is and make sure you sign up for coverage before it begins.