What must consumers do if they wish to change their Marketplace plan after voluntary termination?

When consumers voluntarily terminate their Marketplace plan, they are typically required to wait for the next Open Enrollment period to enroll in a new plan unless they qualify for a special enrollment period due to certain qualifying life events. These life events can include changes such as moving, getting married, having a baby, or losing other health coverage.

This structure ensures that enrollment for health insurance is managed in a controlled fashion, which helps protect the integrity of the Marketplace and maintain the balance of risk among insured individuals. The annual Open Enrollment period allows consumers to assess their health insurance options systematically. Hence, unless a consumer meets the conditions that grant them a special enrollment period, they cannot switch plans until the next designated Open Enrollment.