For consumers who are looking to avoid plan changes for a year, one strategy is to renew an individual health plan for 2014 before the end of 2013. The strategy is not available to everyone and comes with issues that need to be investigated, according to an analysis by HealthPocket.
Some say this strategy would be most desirable to healthy people who have been able to pass a health plan’s health underwriting screen. Giving people an option to enroll in the existing individual market will keep them out of the Obamacare risk pool for some or all of 2014. However, the renewal option will come to an end for plans by 2015, so people who choose this option will eventually become merged with the rest of the individual market enrollees.
California is requiring every carrier in itsexchange to have Obamacare compliant plans in 2014. Plans that will not be on the exchange may be renewed in 2013 and last until the renewed year expires.
New plans require coverage of essential health benefits. For many people, premiums for a 2013 plan will be less than the premium for 2014 plans with comparable deductibles, copayments, and out-of-pocket maximums. A plan that renews from December 1, 2013 to December 1, 2014 may have a one-month period next year in which deductibles that had been reached may be reinstated. For more information, visit www.healthpocket.com.
