Your Open Enrollment Period (OEP)
Open Enrollment PeriodOpen Enrollment Period A defined window when employees can make coverage choices without a qualifying event. (OEP), is a window, typically once a year, when you can review and change your coverage for the following plan year.
- Happens once a year (typically November; dates vary depending on your employer)
- This is your regular window to sign up for coverage or make changes to your existing plan
- No special reason or documentation is needed—you can freely compare plans and update your coverage through your Thatch dashboard
- Changes during OEP take effect on January 1 of the following year
During OEP, you can keep your current health insurance plan, but it's still worth reviewing your options. Plans change, allowancesallowance The amount an employer makes available to help employees pay for coverage or eligible expenses. change, and your own circumstances may have changed since you last enrolled.
Thatch uses open enrollment as an opportunity to highlight:
- Any changes in plan design or pricing
- Any updates to your employer’s allowanceallowance The amount an employer makes available to help employees pay for coverage or eligible expenses.
- Whether your current setup still fits your needs
You’ll see your current configuration side by side with next year’s parameters before you confirm.
If you take no action during OEP, your insurance companyinsurance company The company that provides insurance coverage. Also called an insurance provider. will renew your current plan if it still exists. Thatch will inform you if your plan is unavailable in the coming year.
To avoid surprises, you are strongly encouraged to actively review your plan options during OEP.