How to keep your Marketplace coverage next year

The recent 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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