Keeping Your Marketplace Plan for Next Year
Your Marketplace plan will continue next year if you keep paying your premium and don’t receive a notice of changes. Be aware, if you have a Premium Tax Credit (PTC) and haven’t chosen the option to allow the Marketplace to verify finances automatically for the next year (for up to five years), then the PTC will stop, and you will have to pay the full premium. Please contact us at 1-866-322-2824 (TTY: 711) to reapply and maintain the PTC.
Below is more information about renewal and auto-enrollment:
Open Enrollment for health coverage through the Marketplace begins November 1 each year.
Your insurance carrier will send you information in the fall about updated premiums and benefits.
Review your plan’s changes to see if it still meets your needs. Call us at 1-866-322-2824 (TTY: 711) or visit our website to shop for plans and make sure your doctor and other health care providers will be in the plan network next year. Also make sure any prescriptions you take will be covered.
If you’re happy with your current plan and want to keep it, and your income or household size haven’t changed, you don’t need to do anything if you haven’t received any notifications from the carrier. The Marketplace will auto-enroll you in the same plan for the following year.
If your income or household size have changed, you’ll need to report it to the Marketplace. Please contact us at 1-866-322-2824 (TTY: 711) to reapply, so you get the correct PTC. If you don’t update this information, you’ll get the same PTC you got in the previous year. If your income has gone up, or your household size changes and you don’t report these changes to the Marketplace, you may owe money at the end of the year when you file your tax return.
If you want to change plans, you can:
Enroll in a new plan offered though the Marketplace.
Enroll in a new private health plan outside of the Marketplace. If you do this, you won’t be eligible for PTCs and cost-sharing reductions offered through the Marketplace.
In some cases, your current Marketplace plan won’t be offered in the following year. If that’s the case, you’ll qualify for a Special Enrollment Period that lets you enroll in an individual plan outside the Open Enrollment Period. Call us at 1-866-322-2824 (TTY: 711) or visit our website to shop for plans.