Tom and Stacy Lee wanted to start a small health-care franchise in Vermont. But much of their money was tied up in retirement accounts—some $300,000 in funds they couldn’t withdraw without owing taxes on the withdrawals and a 10% penalty on early withdrawals. The same was true for Lisa Bresko-Cordova and her husband, who dreamed of starting a bed-and-breakfast in Colorado.
The Centers for Medicare & Medicaid Services (CMS) last week issued a rule that, among other things, adjusts the annual open enrollment period the Affordable Care Act (ACA) for 2018 to more closely align with Medicare and the private market. According to a release, the next open ACA enrollment period will start on Nov. 1, 2017, and run through Dec. 15, 2017 and is designed, officials said, to encourage individuals to enroll in coverage prior to the beginning of the year.