The open enrollment period for individual health insurance coverage on healthcare.gov has officially begun and will run through January 15, the state Department of Commerce and Consumer Affairs Insurance Division announced. This is a great opportunity for residents to compare plans and potentially find enhanced subsidies to reduce premiums.
In 2024, eligible new and returning consumers can take advantage of enhanced subsidies to reduce their premiums. These subsidies were made available through the American Rescue Plan Act of 2021 and extended through 2025 by the Inflation Reduction Act of 2022.
Insurance Commissioner Gordon Ito encouraged residents to shop around and compare plans during this enrollment period, emphasizing the importance of understanding what their health insurance policy covers and identifying their current healthcare needs such as services, providers, and prescription drugs. He also reminded residents that it’s important to be aware of any out-of-pocket costs they may have to pay as well as monthly premiums.
It’s important for consumers to enroll by December 15 if they want coverage that starts on January 1. For more information on health insurance, residents can visit cca.hawaii.gov/ins/consumers/health.