The recent HealthCare.gov post We’re making it easy for you to keep your marketplace coverage next year provides several important things for you to know about renewal and auto-enrollment the existing health plan.
Here are the major points:
- All 2014 Marketplace health plans will come up for renewal in 2015. Your insurance company will send you information this Fall about updated premiums and benefits.
- Review your plan 2015 changes to see if it still meets your needs.
- If you’re happy with your current plan and want to keep it–and your income or household size hasn’t changed – you don’t need to do anything.
- If your income or household size has changed, you’ll need to report it to the Marketplace so you get the right premium tax credit.
- If you want to change plans, you can choose any other Marketplace health plan either from the same company or from different insurance company. Alternatively, you may buy a new private health plan outside of the Marketplace. If you do this, you won’t be eligible for premium tax credits and cost-sharing reductions.
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For help finding the best Medicare or Individual Health Plan for you, please contact Liberty Medicare or call us at 877-657-7477.