3 Things to Consider Before Automatically Re-Enrolling on the Marketplace
If you’ve used a credit card to sign up for an annual gym membership, chances are you’ve encountered automatic renewal. If you don’t take action to change or cancel your preferences after a year, the gym assumes you are happy with their services and will continue providing them to you. This same concept applies to individuals who purchased health insurance on the Marketplace last year and need to make any changes to their coverage by Dec. 15.
How Are Health Insurance Rates Determined?
The Affordable Care Act (ACA) requires insurance companies to use member-level rating factors to determine premiums for both individuals and small group employers. Here’s a breakdown.