Open enrollment began November 15th for consumers looking to purchase or renew health insurance on the Affordable Care Act’s state and federal marketplaces. While the second time around is likely to go more smoothly than the first, Drew Altman of the Kaiser Family Foundation reminds us that challenges still remain.
One of these challenges is the relatively complicated way the financial assistance consumers receive is calculated. Individuals and families that previously enrolled in marketplace plans will be automatically re-enrolled unless they choose a different plan. However, because the benchmark product used to calculate their initial level of financial assistance may have changed, the monthly cost to the consumer may also change.