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Individual Insurance Plan

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Individual Insurance Plan

Individual Insurance Plan

An individual health insurance policy is one that is not provided through an employer and covers a single person or multiple people (families, mother and dependent children, husband and wife, etc.). These policies are regulated under state and federal law and can be purchased either inside or outside the Marketplace.

If you are currently insured through an individual plan and want to explore your options through the Marketplace, you can. Plans in the Marketplace can be compared based on price, benefit design and other features that are important to you. In addition, you can determine if you are eligible for any assistance in paying for coverage, such as a premium tax credit.

A few important facts to note:

  • Check with your insurance provider before cancelling your policy. You may be required to wait until the end of your policy year to cancel.
    • If your current plan ends or is cancelled on or before March 31, 2014, you can enroll in the Marketplace during open enrollment, which ends March 31, 2014.
    • You may qualify for a special enrollment period  in the Marketplace when your plan expires because you have “lost” coverage. The same is true if your plan is cancelled outside of the Marketplace open enrollment period.
  • Voluntarily ending your plan or being terminated for not making premium payments does not qualify as losing your coverage; therefore, you would not be eligible for a special enrollment period.  It is important to know the start and end date of your health plan to ensure that you do not miss a deadline that leads to you being uninsured for any length of time.
  • You may be required to provide a certificate of credible coverage or other documentation to the Marketplace to confirm your plan has ended.

Get more information about special enrollment periods in the Marketplace.

The information on this page is provided for informational purposes only and is not intended to provide advice about your eligibility for any program or any particular insurance product for you or your family, nor about your qualification for a special enrollment period in the Marketplaces.  If you have questions about whether you qualify for individual insurance, whether you can cancel your plan, or whether you qualify for a special enrollment period in the Marketplace, please contact your individual plan provider, insurance agent or broker, or your Marketplace (www.healthcare.gov) for additional information.