When does my coverage renew? Am I locked into a year contract? Why does my premium go up every year?
Coverage renews at the beginning of the year, January 1st, for individual plans and yearly from the date you signed up for group plans. You are not locked in. You can cancel your policy at anytime but by doing so, you run the risk of having to pay a fee for not having a health insurance policy. This is because you cannot enroll in another policy until Open Enrollment unless you have a qualifying event. Canceling your policy is NOT a qualifying event.
You may find that your premium goes up each year despite no significant changes to your personal information or health insurance plan. It’s hard to say what all the causes of this might be, but it is in part due to the cost of health care increasing from year to year along with rising drug prices.
At our agency, we take your privacy seriously. Unlike big insurance agencies that sell your information to high-pressure agents, we only use it to connect with you personally. This way, we can ensure that you get a plan that's tailored specially for you.