What Happens When You Change Your ACA Plan Mid-Year?

The Affordable Care Act (ACA) allows you to change your health insurance plan during the annual open enrollment period, which typically runs from November 1 to January 15. However, there are certain circumstances that may require you to change your plan outside of open enrollment, such as losing your job or moving to a new state.

If you need to change your ACA plan mid-year, it’s important to understand how the process works and what to expect. Here’s what you need to know:

Your old plan will generally remain active until the end of the month in which you change plans. This means that you will be responsible for paying premiums for both your old and new plans for the month in which you switch.

Your new plan will typically start on the first day of the month following the date you enroll. However, some plans may have a waiting period before coverage begins.

Your ACA subsidy will be prorated between your old and new plans. This means that you will receive a smaller subsidy for the month in which you change plans.

You may receive a refund from your old plan for the unused portion of your premium. This will typically happen after your new plan has been in effect for a few months.

If you are receiving premium tax credits, you will need to update your information on the HealthCare.gov website. This will ensure that you continue to receive the correct amount of subsidy.

It’s important to note that the process of changing your ACA plan mid-year can be complex. If you have any questions or concerns, it’s always best to consult with a licensed health insurance agent or broker.

Case Study: ACA Plan Change Mid-Year

In the post, the user describes a situation in which they changed their ACA plan for 2024 during the open enrollment period. However, they recently received insurance cards from their old provider for 2024. This is a common issue that can occur when you change plans mid-year.

In this case, the user’s old provider is likely still processing the cancellation request from HealthCare.gov. Once the cancellation is processed, the user will receive a cancellation letter from their old provider. They will not be responsible for paying premiums to their old provider for any months after the date their new plan takes effect.

The user should also make sure to update their information on the HealthCare.gov website so that they continue to receive the correct amount of premium tax credits.

If the user has any questions or concerns, they should contact their old provider or a licensed health insurance agent or broker.