ACA Marketplace: open enrollment, tax credits and which path fits you
As of 2026-10-15
Short answer: Marketplace Open Enrollment for 2027 coverage runs November 1, 2026 through January 15, 2027 (HealthCare.gov dates). Enroll by December 15 for coverage that starts January 1; enroll Dec 16–Jan 15 for a February 1 start. Tennessee uses the federal Marketplace at HealthCare.gov. Free navigator help: Get Covered Tennessee 1-866-475-7879 (Get Covered Tennessee). We don't sell plans.
Not insurance or tax advice, and we don't sell plans. VaultRubric has no deals with insurers, agents, or Marketplace assisters and gives no plan referrals. Use HealthCare.gov, 1-800-318-2596, or a free navigator. Numbers below are from official pages with as-of dates — confirm before you enroll.
Step-by-step for Open Enrollment (Nov 1, 2026 – Jan 15, 2027)
Gather facts: expected 2027 household income (you, spouse if filing jointly, tax dependents), Social Security numbers, immigration documents if any, and employer coverage offers (premium for self-only and family, and whether it meets minimum value).
Go to HealthCare.gov (or your state's Marketplace if you don't use HealthCare.gov). Tennessee uses HealthCare.gov.
Apply once: you'll see whether you may get a premium tax credit, cost-sharing reductions, Medicaid/TennCare, or CHIP/CoverKids.
Compare total cost for the year — premium after any credit, deductible, and out-of-pocket max — not just the monthly premium. Check that your doctors and drugs are covered.
If you qualify for extra savings (cost-sharing reductions), HealthCare.gov says you only get those on a Silver plan.
Enroll by December 15 for a January 1 start, or by January 15 for a February 1 start. Pay the first premium so coverage actually starts.
Report income or household changes during the year so advance credits stay close to what you'll claim on Form 8962.
What the Marketplace is
The Health Insurance Marketplace (also called the Exchange) is where you compare private health plans that meet Affordable Care Act rules, apply for coverage, and see if you qualify for savings. HHS sets Marketplace rules; the IRS runs the Premium Tax Credit (IRS PTC FAQs). Most states, including Tennessee, use HealthCare.gov. A few states run their own Marketplace websites.
Metal tiers (plan categories)
Categories are about how costs are shared, not quality of care. HealthCare.gov estimates:
Category
Plan pays (estimate)
You pay (estimate)
Typical deductible
Bronze
60%
40%
Higher
Silver
70%
30%
Moderate
Silver + extra savings (CSR)
73–96%
6–27%
Lower
Gold
80%
20%
Lower
Platinum
90%
10%
Lower
Catastrophic plans (if offered) are only for people under 30 or with a hardship/affordability exemption. Premium tax credits can apply in any metal category; cost-sharing reductions require Silver. All Bronze and Catastrophic Marketplace plans can pair with an HSA; some other categories can too (HealthCare.gov plan categories).
Essential health benefits (what every Marketplace plan covers)
Outpatient (ambulatory) care
Emergency services
Hospitalization
Pregnancy, maternity, and newborn care
Mental health and substance use disorder services
Prescription drugs
Rehabilitative and habilitative services and devices
Lab services
Preventive and wellness services and chronic disease management
Pediatric services, including oral and vision care (adult dental/vision are not required EHBs)
Premium tax credit (PTC) and advance payments (APTC) — 2026/2027 status
What it is: a refundable IRS credit that can lower Marketplace premiums. You can take it in advance (APTC paid to the insurer) or claim it on your return ({a('ptc_hc', 'HealthCare.gov PTC')}; {a('irs_ptc', 'IRS Q1')}).
Income band after 2025: IRS Q7 (updated Feb. 19, 2026) says for most years you need household income of at least 100% and no more than 400% of the federal poverty line. Congress temporarily removed the 400% cap for tax years 2021 through 2025. That temporary expansion ended; for tax years after 2025 the 100–400% rule applies again unless Congress changes the law.
Reconcile every year: if you take APTC, file Form 8962 with your return. If advances were too high, you repay the difference ({a('irs_ptc', 'IRS Q28–Q31')}).
Repayment cap: for tax years after 2025, IRS Q31 says there is no repayment cap — you repay the full excess APTC. Caps still applied for tax years before 2026 (except 2020).
Employer coverage: you generally can't get PTC if you could enroll in affordable, minimum-value job coverage. For plan years beginning in 2026, the employee affordability percentage is 9.96% of household income for self-only coverage (IRS Rev. Proc. 2025-25, listed in IRS Q11).
COBRA / retiree: you can decline former-employer coverage like COBRA and may still get PTC for Marketplace coverage (IRS Q20).
This only multiplies the official 2026 HHS poverty guideline by 1.00 and 4.00 so you can see whether your expected income is roughly in the 100–400% PTC band IRS describes for tax years after 2025. It is not a savings quote. The Marketplace will show your real estimate when you apply; 2027 amounts post Nov 1.
Household size
100% of 2026 guideline (48 states + DC)
400% of 2026 guideline
1
$15,960
$63,840
2
$21,640
$86,560
3
$27,320
$109,280
4
$33,000
$132,000
5
$38,680
$154,720
6
$44,360
$177,440
7
$50,040
$200,160
8
$55,720
$222,880
Source: HHS ASPE 2026 poverty guidelines ($15,960 for 1 person; add $5,680 each additional). Alaska and Hawaii have higher guidelines on the same page.
Enter size and income, then tap the button.
Special Enrollment Period (SEP) basics
Outside Nov 1–Jan 15, you can usually enroll or change only if you have a qualifying life event (HealthCare.gov SEP), such as:
Losing other health coverage (job-based, COBRA ending, aging off a parent's plan)
Moving to a new area with different plans
Marriage, birth, or adoption
Income change that newly qualifies you for Marketplace savings (rules apply)
For many coverage-loss events you have 60 days to apply. Medicaid and CHIP enrollment can happen any month if you qualify.
COBRA vs Marketplace — side by side
COBRA (keep the job plan for a limited time)
Marketplace plan
Do I have to take it?
No. You can compare Marketplace first.
Optional; apply within 60 days of losing job coverage or during OE
What you usually pay
Full premium (employer + worker share) + a small admin fee
Premium after any PTC; may be lower if you qualify for savings
How long
Often up to 18 months (sometimes longer)
Yearly plans; re-enroll each OE
Doctors / drugs
Same network as the old job plan (usually)
Check each plan's network and formulary
Switching later
Leaving COBRA early on purpose usually does not open an SEP
OE any year; SEP if COBRA ends or employer stops contributing
Marketplace: Tennessee uses HealthCare.gov (not a separate state exchange site).
Get Covered Tennessee (federally funded navigators): free, unbiased help with Marketplace, TennCare, and CoverKids — call 1-866-475-7879 (getcoveredtenn.org).
TennCare / CoverKids:tn.gov/tenncare — Medicaid and children's coverage; apply any time if you may qualify.
When is Marketplace Open Enrollment for 2027 coverage?
November 1, 2026 through January 15, 2027 (HealthCare.gov). Enroll by December 15 for January 1 coverage; enroll by January 15 for February 1 coverage.
Did the enhanced premium tax credits end?
IRS FAQs (updated Feb. 19, 2026) say the temporary expansion that removed the 400% poverty-line cap applied to tax years 2021 through 2025. For tax years after 2025, the general rule is household income of 100% to 400% of the federal poverty line, unless Congress changes the law.
Is there still a repayment cap if I got too much APTC?
For tax years after 2025, IRS Q31 says there is no repayment cap — you repay the full excess advance payments. Caps applied for tax years before 2026 (except 2020).
Do I have to take COBRA when I lose my job?
No. HealthCare.gov says you can compare Marketplace plans first. Apply within 60 days of losing job-based coverage. Marketplace plans may cost less if you qualify for savings.
Which metal tier should I pick if I get extra savings?
HealthCare.gov says cost-sharing reductions (extra savings that lower deductibles and copays) only apply if you enroll in a Silver plan. Premium tax credits can apply in any metal category.
Where can I get free Marketplace help in Tennessee?
Get Covered Tennessee navigators: 1-866-475-7879 (getcoveredtenn.org). Tennessee uses HealthCare.gov. Nationwide: HealthCare.gov Find Local Help.
Facts, not insurance advice. We don't sell insurance or provide quotes; confirm coverage and requirements with the insurer, an agent or your state insurance department.