The open enrollment period for individual health insurance coverage on healthcare.gov has commenced and will last until January 15, the Maui News announced. Residents with current health coverage through the marketplace can renew their plans during this time. Enhanced subsidies to reduce premiums are available for eligible new and returning consumers in 2024, thanks to the American Rescue Plan Act of 2021 and the Inflation Reduction Act of 2022.
Insurance Commissioner Gordon Ito emphasized that consumers should shop and compare plans to determine if they qualify for enhanced subsidies to reduce their premiums. It is essential to understand what a health insurance policy covers and identify current healthcare needs, such as services, healthcare providers, and prescription drugs, before making a decision. Out-of-pocket costs and monthly premiums should also be considered when comparing plans.
Residents have until December 15 to enroll in coverage that starts on January 1st. For more information on health insurance, visit cca.hawaii.gov/ins/consumers/health.