QUESTION

I signed up for a Marketplace plan through a special enrollment period in July. Do I still have to renew my plan during the open enrollment period?

Individuals with coverage | Individual and Marketplace Health Coverage |
ANSWER

Yes. Even if you signed up mid-year, you must renew your coverage during the open enrollment period. For 2024 coverage, open enrollment is November 1, 2023 to January 16, 2024 in most states. All marketplace plans are offered on a calendar year basis. If you are receiving premium tax credits and want to ensure that you continue to receive the correct amount, you must return to the marketplace by January 16, 2024 to update your account information and select a plan. If you do nothing and are eligible, the marketplace will automatically renew you into the same plan with premium tax credits (if eligible) based on the latest household income data they have through their federal sources. In addition, Marketplace enrollees that are currently enrolled in bronze level plans that are eligible for silver level plans of the same product will be automatically enrolled into that silver plan if they do nothing. (45 C.F.R. § 155.335; CMS, HHS Notice of Benefit and Payment Parameters for 2024 Final Rule).

Individuals with no coverage
Individuals with coverage
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