We’re making it easy for you to keep your Marketplace coverage next year

Published on June 30, 2014

We’re working hard to make it easy for you to keep your current Marketplace coverage when your health plan comes up for renewal.

Here are 7 things to know about renewal and auto-enrollment:

All 2014 Marketplace health plans will come up for renewal in 2015. Open Enrollment for 2015 health coverage through the Marketplace begins November 15, 2014.
Your insurance company will send you information this Fall about updated premiums and benefits.
Review your plan’s 2015 changes to see if it still meets your needs. Call or visit the plan’s website to 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. The Marketplace will auto-enroll you in the same plan for 2015.
If your income or household size have changed, you’ll need to report that to the Marketplace so you get the right premium tax credit. If you don’t update this information, you’ll get the same premium tax credit you got in 2014. 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 2015 when you file your tax return.
If you want to change plans, you can:

Choose any other Marketplace health plan your company offers in your service area if you want to stay with your current insurance company.
Choose a new health plan from a different insurance company through the Marketplace.
Buy a new private health plan outside of the Marketplace. If you do this, you won’t be eligible for premium tax credits and cost-sharing reductions offered through the Marketplace.

In some cases, your current Marketplace plan won’t be offered in 2015. If that’s the case, we’ll automatically enroll you in a similar plan so you don’t have a gap in health coverage, unless you choose another plan and enroll. Because your plan is ending, you’ll qualify for a Special Enrollment Period that lets you enroll in an individual plan outside the Open Enrollment period.