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Wednesday, July 17, 2024

We’re making it simple so that you can hold your Market protection subsequent yr

Printed on June 30, 2014

We’re working exhausting to make it simple so that you can hold your present Market protection when your well being plan comes up for renewal.

Listed here are 7 issues to learn about renewal and auto-enrollment:

  1. All 2014 Market well being plans will come up for renewal in 2015. Open Enrollment for 2015 well being protection by means of the Market begins November 15, 2014.
  2. Your insurance coverage firm will ship you info this Fall about up to date premiums and advantages.
  3. Overview your plan’s 2015 adjustments to see if it nonetheless meets your wants. Name or go to the plan’s web site to verify your physician and different well being care suppliers will probably be within the plan community subsequent yr. Additionally be certain that any prescriptions you’re taking will probably be coated.
  4. Should you’re glad together with your present plan and need to hold it–and your revenue or family measurement haven’t modified – you don’t must do something. The Market will auto-enroll you in the identical plan for 2015.
  5. In case your revenue or family measurement have modified, you’ll must report that to the Market so that you get the suitable premium tax credit score. Should you don’t replace this info, you’ll get the identical premium tax credit score you bought in 2014. In case your revenue has gone up or your family measurement adjustments and also you don’t report these adjustments to the Market, you could owe cash on the finish of 2015 if you file your tax return.
  6. If you wish to change plans, you possibly can:
    • Select every other Market well being plan your organization presents in your service space if you wish to keep together with your present insurance coverage firm.
    • Select a brand new well being plan from a special insurance coverage firm by means of the Market.
    • Purchase a brand new non-public well being plan exterior of the Market. Should you do that, you gained’t be eligible for premium tax credit and cost-sharing reductions provided by means of the Market.
  7. In some instances, your present Market plan gained’t be provided in 2015. If that’s the case, we’ll routinely enroll you in an analogous plan so that you don’t have a spot in well being protection, until you select one other plan and enroll. As a result of your plan is ending, you’ll qualify for a Particular Enrollment Interval that permits you to enroll in a person plan exterior the Open Enrollment interval.

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