Even if you like your current coverage, it is strongly advised that you take steps to actively renew it during Open Enrollment.
If you are receiving a premium tax credit, when you actively renew you can also update your income and family information and see how much tax credit you may be eligible for based on the new premiums for the coming year. In many states new insurers will join the Marketplace or expand their service areas for 2021, and this could affect the amount of subsidy available for your plan next year.
In addition, two states – Pennsylvania and New Jersey – are opening new state-run Marketplaces for 2021. Residents of those states who are now enrolled in coverage through HealthCare.gov will have their data migrated to the new state Marketplace and will receive instructions for accessing their accounts and enrolling in 2021 coverage.
In most states, Open Enrollment for 2021 plans begins on November 1 and ends December 15, 2020.
If you don’t take any action before Open Enrollment ends, in most cases the Marketplace will automatically renew your coverage for the coming year. However, insurers may not offer all of the same plans next year that they offered this year. If your health plan will no longer be offered next year and you do nothing, your insurance company will automatically enroll you in another policy that is similar to the one you have currently. The automatic renewal process may work differently in some state-run Marketplaces.