The Maui News announced that the open enrollment period for individual health insurance coverage on healthcare.gov has started and will continue until January 15. During this time, residents can renew their existing plans or purchase new coverage if they are eligible.
The Insurance Division of the state Department of Commerce and Consumer Affairs reminds residents that enhanced subsidies to reduce premiums are available for both new and returning consumers who are eligible in 2024. The American Rescue Plan Act of 2021 expanded the availability of financial assistance through the marketplace, and the Inflation Reduction Act of 2022 extended these benefits through 2025.
According to Insurance Commissioner Gordon Ito, consumers should take advantage of this opportunity to shop around and compare plans to see if they qualify for reduced premiums. He also emphasized the importance of understanding what your health insurance policy covers, including services, health care providers, and prescription drugs. It’s important to keep your current health care needs in mind when comparing plans to ensure you have adequate coverage for your needs.
Consumers should enroll by December 15th for coverage that starts on January 1st. For more information on health insurance, residents can visit cca.hawaii.gov/ins/consumers/health.