CMS issued final regulations affirming that the federal exchange will automatically renew health plans for 2015 if consumers have not made any modifications to their existing plan by Dec. 15. The rule allows consumers one month after the launch of the new open enrollment period to go to HealthCare.gov to update their information, choose to keep their existing plan or select a new plan.
If available, consumers will be automatically reenrolled in the same plan. If their existing plan is no longer available through the federal exchange, the consumer will be enrolled in a similar plan. Those who are automatically reenrolled will receive the same subsidy they received in 2014, as long as their incomes have not significantly changed and they have authorized IRS to view their tax returns. However, if premiums for their plan has increased, consumers will be responsible for paying the difference, instead of receiving a larger subsidy. If premiums have dropped, consumers could receive subsidies that are too high and would have to repay IRS.
