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Statement 2
“Automatic renewal means I keep the same plan at the same price.”
True or false?
Correct!
Not quite.
Renewal keeps you covered. It does not freeze the terms. The premium, deductible, drug list and network can all change on January 1, and any premium tax credit is recalculated. People who let a plan roll over sometimes find in January that their monthly bill has jumped or their doctor has left the network. Logging in to compare takes far less time than fixing it afterward.
More: Your Health Insurance Plan Is Renewing. Don’t Just Click ‘Keep My Plan.’