You submitted your plan and now wanting to change your selection.
Important: Once you select and submit your health insurance plan, it’s final for the year.
Sometimes employees select a plan and later want to switch. Unfortunately, outside of a QLE, the law doesn’t allow mid-year changes. Attempting to switch after enrollment creates delays, administrative issues, and in some cases, risks your coverage start date.
When you enroll in health coverage through your Individual Coverage Health Reimbursement Arrangement (ICHRA), your plan choice is locked in for the entire plan year unless you experience a qualifying life event (QLE) such as marriage, divorce, birth/adoption of a child, or loss of other coverage.
This is because the ICHRA benefit uses individual market coverage, which follows Affordable Care Act (ACA) open enrollment rules. Once your enrollment is complete and the open enrollment window closes, there’s no federal provision to change your plan simply because you’ve changed your mind.
What you should do before you enroll
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Review plan details carefully – Compare premiums, deductibles, provider networks, and prescription coverage.
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Talk through your options – Use the resources and licensed education specialists available to you.
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Confirm your choice – Once you hit submit, you’re set for the year (unless you have a QLE).
To review more information on a qualifying life event, please review this article, Qualifying Life Events (QLE) for special enrollments.
Feel free to contact us at support@benefitbay.com, and we will be glad to assist you through the necessary steps.