The 2024 open enrollment period for individual health insurance coverage on healthcare.gov has begun, running through Jan. 15. The state Department of Commerce and Consumer Affairs Insurance Division reminded residents that those with coverage through the marketplace can also renew their health plans during this period.
Enhanced subsidies to reduce premiums are available for eligible new and returning consumers 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. Insurance Commissioner Gordon Ito encouraged consumers to shop and compare plans and see if they are eligible for enhanced subsidies to reduce premiums.
It’s important to understand what your policy covers, including identifying your current health care needs such as services, health care providers, and prescription drugs. Keep these in mind as you compare plans and see how they measure up against your current policy. Consumers should enroll by Dec. 15 for coverage that starts Jan. 1.
For more information on health insurance, visit cca.hawaii.gov/ins/consumers/health. Today’s breaking news and more in your inbox.