Even if you’re already covered for healthcare through Obamacare or the Affordable Care Act, you should still review your plan, update your information and compare plans before the Dec. 15 deadline. Doing so could save you money.
According to Healthcare.gov, changes such as household income updates could help you save on monthly premiums.
In addition, you could find that you use more premium tax credit advance payments than you qualify for, which would leave you having to pay the additional money back when you file your taxes. You could potentially avoid this with a review of your plan.
You may also determine that a newer plan better suites your needs. Life changes may prompt you to check out what other companies are offering. This could also lead to savings.
If you choose not to review or compare your plan with others by Dec. 15, then you may be automatically enrolled for 2017. All updates will take effect on Jan. 1, 2017.