Your ACA health insurance plan and your personal circumstances can change from one year to the next. Reviewing your coverage during open enrollment can help ensure that your plan still fits your healthcare needs, includes your doctors and prescriptions, and reflects your expected income for the coming year.
Your ACA Plan Costs Can Change Each Year
Even if you are satisfied with your current ACA plan, it will not necessarily have the same costs next year. The plan’s deductible, out-of-pocket maximum, and monthly premium may all change.
Reviewing these changes with an insurance agent during open enrollment can help you understand what your coverage will cost and determine whether the plan still meets your needs.
Your Healthcare Needs May Require a Different ACA Plan
Changes in your health and medical care may also affect which plan is right for you. When reviewing your ACA coverage, consider whether:
- Your healthcare needs have changed: You may now need more frequent medical appointments instead of only an annual physical.
- Your doctors are still in the plan’s network: A provider may have left your current network, requiring you to find a plan that includes them.
- Your prescriptions are covered: If you have started taking new medications, check whether they are covered under the plan you are considering.
Reviewing these factors each year can help you choose coverage that better fits your current healthcare needs.
Income Changes Can Affect Your ACA Tax Credit and Premium
Your expected income helps determine whether you receive a tax credit that reduces the amount you pay toward your monthly premium. Because your income may change in the coming year, it is important to make sure the amount reported on your application is accurate.
Reviewing your expected income with an agent can help ensure that you pay the correct premium each month and avoid unexpected tax implications at the end of 2027.
Open Enrollment Is Your Opportunity to Change ACA Plans
Open enrollment allows anyone enrolled in ACA coverage to make changes and select a plan for the coming year. Once open enrollment ends, changing your plan becomes more difficult unless you experience a qualifying life event, such as:
- Moving to a new area
- Changing your household size
- Losing health coverage through a job
Taking time to review your coverage during open enrollment allows you to address changes before your new plan year begins.
Review Your ACA Coverage With an MBhealth Agent
An MBhealth agent can help you review changes to your plan, healthcare needs, prescriptions, providers, and income to find coverage that fits your needs for the coming year. To schedule an appointment, call MBhealth at (314) 544-5400 or visit mbhealth.com.
