The second open-enrollment period for health insurance through the federal marketplaceopens Saturday, Nov. 15. People who bought plans last year have to choose insurance again this year.
The marketplace offers new plans and new insurance companies. Individuals can renew their plan if it still exists, but there may be better options. Diane Brown is with Arizona Public Interest Research Group, which helps to educate young adults on insurance options.
“It’s important to keep in mind that the health insurance marketplace exists of private insurance companies, this is not government insurance," Brown said. "So just like any other product in the marketplace, plans change, products change from year to year.”
People renewing or choosing new plans need to make a decision before the enrollment period ends Sunday, Feb. 15. If consumers don’t and lose their insurance, they will have to pay the penalty, which increases this year to 2 percent of an individual’s or family’s income.
