Don’t wait to enroll in the individual marketplace

When it comes to the individual marketplace, we understand this year's open enrollment period may feel more complicated than usual. With headlines swirling about potential changes to the health insurance tax credit, it's easy to feel uncertain.

Even if Congress hasn't yet extended the enhanced tax credit, don't wait—sign up for coverage as soon as you can.

What happens if Congress extends the tax credit this year?

Good news: you won't miss out. If Congress acts, the marketplace will update their website to reflect the updated tax credit.

Consumers who have already shopped before the tax credit was updated can return to their marketplace to see their new tax credit amounts.

What should I do next?

The quickest way to claim your updated tax credit after Congress acts is to return to the marketplace and update your eligibility information.

What if I don't update my eligibility?

We expect the marketplace to be able to re-run eligibility automatically for everyone who enrolled before Congress acts. Depending on how many consumers have enrolled before Congress acts, re-running eligibility may take some time. This could take a matter of weeks to months.

After I see the tax credit amount and the eligibility is complete, what next?

To begin receiving the new, lower premiums immediately, you can either:

• Reselect your same plan; or
• Choose another plan based on the tax credit.

Why the tax credit matters

More than 21 million Americans depend on the Affordable Care Act (ACA) tax credit to afford health insurance. Without an extension, enrollees who currently receive a tax credit will see their costs rising by an average of 114%, pricing millions out of the market.

Blue Cross and Blue Shield (BCBS) companies remain available before and after any changes to the tax credit—but affordability is directly tied to this financial assistance. For example:

• In Idaho, a couple's monthly premium could jump from $128 (with the tax credit) to $1,675 (without).
• In New York , a couple could lose $720/month in financial help.

BCBS companies have been trusted partners in the individual marketplace since the ACA was enacted. We're proud to offer coverage in nearly every ZIP code across the country, with options designed to meet the diverse needs of our communities.

We support an extension of the health care tax credit to ensure long-term affordability and stability. The marketplace must work for both the people who rely on it and the taxpayers who support it.