Healthcare - When It May Make Sense To Change Plans


Many of the millions of Americans already insured through individual plans don't plan on changing health plans as the ACA enrollment period comes to an end on March 31st.

However, there are some that wonder whether it would be a good idea to change health plans before the upcoming deadline.

For some, changing policies could mean lower premiums, lower out-of-pocket expenses and more coverage for the same amount or less than they are currently paying.

  • If you are thinking of changing plans here are some helpful hints on when you are actually allowed to change health plans:
  • If your current plan ends or your insurance is canceled before March 31, 2014, you can use the Marketplace during open enrollment to replace your individual insurance.
  • You may qualify for a special enrollment period in the Marketplace when your plan ends because you're losing your coverage. This is also true if your plan is canceled and ends outside open enrollment.

Voluntarily ending your plan, or being terminated for not making your premium payments, doesn't qualify as losing your coverage.If you have a job-based plan through your employer you are considered covered but you have the right purchase coverage from the Marketplace plan.
If your employer's plan is considered affordable and meets the minimum value threshold you will not be able to get lower costs even if your income would qualify you for the lower cost.

If you and your family decide to research alternate options in the marketplace, Humana can help you estimate the cost of health insurance and explore your options with their Easy Price tool.

An important reminder: If you have job-based coverage, make sure you understand the coverage before you elect to buy from the Marketplace coverage.

For more information visit humanahelps.com or on March 1, 2014 Humana will be partnering with the Detroit Medical Center to host an on-site enrollment event at MLK High School. Find out more information here.