Update your insurance plan to stay up to date, state recommends

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The Virginia health insurance market for 2019 has improved for many individuals compared to their current 2018 plans. For Virginians to take full advantage of an improved competitive market, the Bureau of Insurance of the State Corporation Commission encourages them to update their marketplace account through the federal exchange during open enrollment from November 1 to December 15.

“Allowing yourself to be automatically re-enrolled in the same or a similar plan by doing nothing is a poor choice this year,” said SCC Commissioner of Insurance Scott A. White. “The wise choice is to explore all plan options available to you because certain areas of Virginia have more insurance companies offering lower priced plans. Failure to act could cause you to pay significantly more than necessary.”

The only way consumers who qualify for premium subsidies can ensure they will pay the correct premium for their 2019 coverage is to update their federal marketplace account
information and research all available plan options. Plans, premiums and available subsidies change every year.

For some qualifying Virginians, the subsidy amount for a 2019 plan will not be as generous as it was in 2018. Updating your marketplace account is the only way to ensure your 2019 premium
amount and the financial assistance for which you qualify is correct.

Additional information regarding 2019 open enrollment may be found on the SCC website, including

▪ Health Coverage Plan Comparison Tool
▪ Individual Health Insurance Fact Sheet
▪ Individual Health Insurance Enrollment Information
▪ Which carriers will offer on-exchange in my area?
▪ View final 2019 rate summary information

 

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Truman Lewis
A former reporter and bureau chief, Truman Lewis has covered presidential campaigns, state politics and stories ranging from organized crime to environmental and consumer protection.