The open enrollment period for individual health insurance coverage on healthcare.gov has started and will continue until January 15, the state Department of Commerce and Consumer Affairs Insurance Division announced. This is a great opportunity for residents to shop and compare plans to see if they are eligible for enhanced subsidies to reduce their premiums.
In 2024, new and returning consumers who are eligible for financial assistance through the marketplace can take advantage of enhanced subsidies that aim to reduce premiums. The American Rescue Plan Act of 2021 expanded the availability of financial assistance, while the Inflation Reduction Act of 2022 extended these benefits through 2025.
To help residents make informed decisions about their health insurance, Insurance Commissioner Gordon Ito encouraged them to compare plans carefully and understand what each policy covers. He emphasized the importance of identifying current health care needs such as services, health care providers, and prescription drugs before making a decision.
For those with current coverage through the marketplace, this enrollment period is also an opportunity to renew their plans. It’s important to note that the enrollment deadline for coverage that starts on January 1 is December 15, so residents should act quickly if they want to secure coverage for the new year.
For more information on health insurance in Hawaii, residents can visit cca.hawaii.gov/ins/consumers/health.