Asking yourself “how do I opt out of Obamacare renewal?” The health insurance marketplace under the Affordable Care Act or “Obamacare” regulations is set to automatically re-enroll the majority of Americans in their health plans, unless they opted out of auto-enrollment when they enrolled last year.
Information on Opting out of Obamacare Renewal
This option applies to 95% of the people who signed up for their health insurance plans through the federal health exchange and is intended to make the re-enrollment process easy and painless for those who chose the automatic re-enrollment option.
However, there may be reasons why you want to change plans or opt out of Obamacare auto-renewal – perhaps the premium has increased, or your current plan just doesn’t meet your personal or financial needs. If you don’t want to be stuck with the same plan for the next year, then you may choose to enroll in a different plan during the open enrollment period.
Some things to keep in mind about open enrollment and renewal of your policy:
- Open enrollment starts November 1, 2015 and lasts through January 31, 2016.
- During the open enrollment period, you can shop for a different plan and also update your information so the subsidies you receive will accurately reflect your current situation.
- During this time you may choose to opt out of any future automatic Obamacare renewals.
- If you don’t choose to sign up for a new plan during the open enrollment period, then you will be automatically enrolled in your current plan if it is available, unless you opted out of that option last year when enrolling in Obamacare. If you selected not to auto-renew during open enrollment last year, you will need to sign up for a new plan (or re-enroll in your current plan) during open enrollment period.
For help navigating the health insurance marketplace, contact HealthMarkets Insurance Agency. Our knowledgeable representatives are available 24/7 to assist you while you shop for health insurance.
The health insurance marketplace can be confusing, and our licensed insurance representatives are trained and experienced to walk you through each step of enrollment. HealthMarkets can help ensure you enroll in the right health insurance plan that meets both your medical and financial needs. Call us today at (800) 360-1402.
Source: http://www.cnbc.com/id/101793283 ASC000556