Printed on June 30, 2014
We’re working arduous to make it straightforward 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:
- All 2014 Market well being plans will come up for renewal in 2015. Open Enrollment for 2015 well being protection by way of the Market begins November 15, 2014.
- Your insurance coverage firm will ship you info this Fall about up to date premiums and advantages.
- Evaluate your plan’s 2015 modifications 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 can be within the plan community subsequent 12 months. Additionally be sure that any prescriptions you are taking can be coated.
- Should you’re joyful together with your present plan and wish to hold it–and your earnings or family dimension haven’t modified – you don’t must do something. The Market will auto-enroll you in the identical plan for 2015.
- In case your earnings or family dimension 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 earnings has gone up or your family dimension modifications and also you don’t report these modifications to the Market, you could owe cash on the finish of 2015 if you file your tax return.
- 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 distinct insurance coverage firm by way of the Market.
- Purchase a brand new personal well being plan outdoors of the Market. Should you do that, you gained’t be eligible for premium tax credit and cost-sharing reductions provided by way of the Market.
- 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 identical plan so that you don’t have a niche in well being protection, except 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 outdoors the Open Enrollment interval.