The open enrollment period for individual health insurance coverage on healthcare.gov has started and will run until January 15. During this time, residents can renew their current plans or purchase new coverage. It’s important to understand what the health insurance policy covers and identify current healthcare needs, such as services, health care providers, and prescription drugs. Enhanced subsidies to reduce premiums are available for eligible new and returning consumers in 2024 as a result of the American Rescue Plan Act of 2021 and the Inflation Reduction Act of 2022.
According to Insurance Commissioner Gordon Ito, consumers are encouraged to shop and compare plans to see if they are eligible for enhanced subsidies that could lower their premiums. He also emphasized the importance of understanding what a health insurance policy covers and identifying current healthcare needs. To enroll, residents must do so by December 15 for coverage that starts on January 1st. For more information on health insurance, residents can visit cca.hawaii.gov/ins/consumers/health.