The 2024 open enrollment period for individual health insurance coverage on healthcare.gov has commenced, ending on January 15th. Residents of Hawaii were reminded by the State Department of Commerce and Consumer Affairs Insurance Division that they can also renew their health plans during this period.
Enhanced subsidies to reduce premiums are available to eligible new and returning consumers in 2024. The American Rescue Plan Act of 2021 expanded the availability of financial assistance through the marketplace, and the Inflation Reduction Act of 2022 extended these benefits through 2025. Insurance Commissioner Gordon Ito encouraged consumers to shop and compare plans and see if they qualify for enhanced subsidies to lower their premiums.
It’s crucial to understand what your policy covers, including identifying your current healthcare needs such as services, healthcare providers, and prescription drugs. Keep these in mind as you compare plans and evaluate how they match up against your current policy. Consumers should enroll by December 15th for coverage that begins on January 1st.
For more information on health insurance, visit cca.hawaii.gov/ins/consumers/health. Stay tuned for breaking news updates throughout the day right in your inbox!