QUESTION

I just got a promotion and no longer qualify for premium tax credits. Can I drop my current plan and buy a new one even though it’s outside the open enrollment period? Can I buy a plan outside the health insurance marketplace?

Individuals with coverage | Individual and Marketplace Health Coverage
ANSWER

If you are currently enrolled in a plan on the health insurance marketplace, you are eligible for a special enrollment period so long as you do so within 60 days of your change in status. You can change plans with this SEP but only within the same metal level as your current plan. However, if you want to buy health insurance outside the health insurance marketplace, you will need to wait until the open enrollment period. (45 C.F.R. § 155.420; 82 Fed. Reg. 18346, April 18, 2017).

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