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Friday, December 8, 2023

We’re making it simple so that you can maintain your Market protection subsequent 12 months

Printed on June 30, 2014

We’re working onerous to make it simple so that you can maintain 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 way 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. Assessment 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 might be within the plan community subsequent 12 months. Additionally be sure any prescriptions you are taking might be lined.
  4. When you’re glad along with your present plan and need to maintain it–and your revenue or family dimension 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 dimension have modified, you’ll must report that to the Market so that you get the appropriate premium tax credit score. When 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 dimension adjustments and also you don’t report these adjustments to the Market, you might owe cash on the finish of 2015 while you file your tax return.
  6. If you wish to change plans, you’ll be able to:
    • Select another Market well being plan your organization provides in your service space if you wish to keep along with your present insurance coverage firm.
    • Select a brand new well being plan from a unique insurance coverage firm by way of the Market.
    • Purchase a brand new personal well being plan outdoors of the Market. When you do that, you gained’t be eligible for premium tax credit and cost-sharing reductions provided by way of the Market.
  7. In some circumstances, 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 niche 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 outdoors the Open Enrollment interval.

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