Revealed on June 30, 2014
We’re working onerous 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:
- All 2014 Market well being plans will come up for renewal in 2015. Open Enrollment for 2015 well being protection by the Market begins November 15, 2014.
- Your insurance coverage firm will ship you data this Fall about up to date premiums and advantages.
- Evaluation your plan’s 2015 adjustments to see if it nonetheless meets your wants. Name or go to the plan’s web site to ensure your physician and different well being care suppliers will probably be within the plan community subsequent yr. Additionally be sure that any prescriptions you are taking will probably be coated.
- When you’re pleased along 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 fitting premium tax credit score. When you don’t replace this data, you’ll get the identical premium tax credit score you bought in 2014. In case your earnings has gone up or your family dimension adjustments and also you don’t report these adjustments to the Market, you could owe cash on the finish of 2015 once you file your tax return.
- If you wish to change plans, you may:
- Select every other Market well being plan your organization gives 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 the Market.
- Purchase a brand new personal well being plan exterior of the Market. When you do that, you gained’t be eligible for premium tax credit and cost-sharing reductions supplied by the Market.
- In some instances, your present Market plan gained’t be supplied 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 allows you to enroll in a person plan exterior the Open Enrollment interval.