The Affordable Care Act: Why You Are Restricted to Open Enrollment.

The Affordable Care Act, also known as Obamacare, was signed into law in 2010.

The act was passed to provide affordable health insurance coverage for all Americans regardless of pre-existing conditions. Prior to this act, many people were declined for coverage as they had ongoing health conditions. Since every qualified individual must be accepted for coverage no matter their health condition, it is imperative that enrollment be restricted to one annual enrollment period.

The Affordable Care Act now accepts all qualified individuals and families during an annual period known as "open enrollment" beginning November 1, with consumers needing to choose a plan and enroll by December 15 if they want coverage to take effect January 1. Others who have suffered a loss of coverage considered a "Qualifying Life Event" may be eligible to enroll in the plan outside of the open enrollment period.

A qualifying life event would be considered, losing an employer sponsored group plan due to separation of employment, changing jobs, ageing out of your parents plan at age 26, getting married, divorce, and or moving out of state.

It is important to remember that the window of time for making changes to your health benefit plan is only open for a short period of time — usually either 30 or 60 days after the qualifying life event happens. Get started with making changes right away so you'll be able to take advantage and get the coverage you want and need.