Healthcare Exchange: Guaranteed Renewal
The Patient Protection and Affordable Care Act, more commonly known as ObamaCare, begins January 2014. Every new “metal” plan must offer guaranteed renewal. The new Healthcare Exchange plans are the Bronze Plan, Silver Plan, Gold Plan, and Platinum Plan.
What is Guaranteed Renewal?
It is a new requirement by the Exchange that your health insurance issuer must offer to renew your policy as long as you continue to pay premiums. However, your provider may increase what you pay to renew your coverage. It is important to remember that all new plans have guaranteed issuance regardless of a preexisting condition.
To learn about guaranteed renewal in your state call 800-930-7956 or contact Medicoverage.