Majority of Individuals will Auto-Renew their Health Insurance

Majority of Individuals will Auto-Renew their Health Insurance

Sylvia Mathews Burwell, the new secretary of Health and Human Services, announced yesterday that majority of individuals will not need to do anything to renew their health insurance coverage in 2015.  However, if the consumer did not give permission to the Exchange to receive updated information from the IRS, their federal subsidy will end on December 31.

Of course, anyone that is not satisfied with their current coverage, service, network of providers or pricing, they must go through the application process again during this year’s open enrollment to explore other options.  Additionally, if your household income has changed you must go through the application process again to reevaluate your eligibility and amount of potential subsidy. 

If for any reason you are interested in exploring options, consider working through Business Benefits Insurance Solutions, even when applying for subsidized coverage.  Unless you are covered by Medicaid, we can help you understand your coverage and assist with issues throughout the year.  Getting problems solved for those with coverage through co-op programs has been very challenging for many, however we have successfully resolved numerous issues for our clients!

For more information on yesterday’s announcement, read this article from the NY Times.