If you are enrolled in an Obamacare plan and have made a big change in your life recently, then you must report this change to your marketplace. Big life changes can affect your Marketplace coverage.
These changes can be easily reported with HealthSherpa.com. HealthSherpa.com is a verified partner of HealthCare.gov, to make updates to your Marketplace account.
How to make changes to your Obamacare coverage
Once you update your account information you can then enroll in a new plan if it is Open Enrollment Period. If it is not an Open Enrollment Period then you can shop for a plan that qualifies for Special Enrollment Period. Special Enrollment Period plans only happen if you have a qualifying event such as:
- Loss of health insurance coverage
Renewing your plan during Open Enrollment Period
Renewing health insurance during the Open Enrollment Period can begin with your re-enrollment letters. By November 1st you will get two different letters. One of these letters is from the Marketplace and the other is from your insurer. Both of these letters will contain information on how to make changes to your Obamacare plan.
The letter from your Insurer will let you know if you are eligible for the same plan next year. The letter will detail information on your current plan and any changes to that plan that may come in the new year along with how much your monthly premium will be. The letter will also contain information for alternate plans if you will no longer be eligible for the same plan the following year.
The letter from the Marketplace will detail information that you need to provide to get a premium tax credit. For this, you may need to submit tax and household income information.
Make sure to keep these letters in a safe place to be ready for the Open Enrollment Period.
Switching Health insurance plans during Open Enrollment Period
You will be automatically enrolled in your old plan if you do not make any changes to your Marketplace account. You can log in and make changes to your Marketplace account as soon as November 1st.
Once you log in through HealthSherpa.com or HealthCare.gov you will be able to update your information about your income or household. From there you will be able to see the plans available to you in the new year. You will also be able to see the premiums that correspond to those plans.
For more information on insurance plans look here.