Sometime this fall, your health insurance company sends a letter about next year. Open it. It's the one piece of mail that says what the plan you already have will cost in 2027 and what's changing.
When it shows up
If you have an ACA individual plan, on or off the exchange, federal rules say the insurer has to send the renewal notice before November 1.
Small business plans run on a different clock. The notice has to reach the employer at least 60 days before the plan renews. For a January 1 renewal, that's November 2.
Medically underwritten plans don't follow either date. Their rate letters usually come around the policy anniversary.
The first two things I read
Next year's premium. Find the monthly amount for 2027 and set it next to what you pay now. On an ACA plan, check whether the letter shows the full price or the price after a tax credit. Some show both.
What changed in the plan. The deductible, the out-of-pocket maximum, copays, the network, the drug list. Read the whole letter. Changes aren't always on the first page.
Renewed or discontinued
Most letters say the plan renews. Some say the plan is being discontinued. Those letters explain what happens next, which can mean a move into a different plan.
That second kind is the letter to read twice. A different plan can come with a different network, a different deductible and a different price.
For small business owners
If you offer a group plan, the notice comes to you, the employer. Same two things first: the 2027 premium and the plan changes. Then check the date. Group renewals come with 60 days' notice, and for January 1 plans that notice is due by November 2.
What I'd do with it
Keep it where you can find it. If anything on it jumped out, the premium or a change you didn't expect, book a time with me and we'll read it together.
Sources:
- 45 CFR 147.106(f)(1), individual market renewal notices
- 45 CFR 147.106(f)(2), small group renewal notices
Mary Jones, licensed health insurance agent, NPN #20192176. Jones True Insurance Solutions. Not affiliated with HealthCare.gov, Nevada Health Link or any government agency. A licensed agent may contact you.
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