Can I Change My Health Insurance Plan in Obamacare? Am I Locked in?

We get this question a lot.
And that makes sense — after all, it can be difficult to decide between all of the different plans. What if you think you made the wrong choice? What are your options? Can you drop your plan?
The short answer is YES… sort of.
Let’s be very clear: When you sign up for a health insurance plan you are not contractually obligated to that plan or company for any period of time.
This is not like a cell phone contract. You can drop your health insurance plan.
There is a significant detail that you must consider, however, and which most people are unaware of:
Under Obamacare, after the “open enrollment” period ends, you will probably not be able to find a health insurance company that will accept new applications until the next open enrollment period. The initial open enrollment period expires March 31.
So if you decide to drop your plan in, say, July, you can do that. But you will probably not be able to get another qualified plan until open enrollment begins again in the late fall (meaning you wouldn’t be able to get a policy with an effective date before January 1).
* Are there exceptions? Yes – you will be able to get a policy if you’ve had what’s called a “qualifying event.” These would be significant changes in circumstances such as moving to a new area, getting married or divorced, or losing employer-sponsored health insurance.
* Are there alternatives? Sure. The best alternative would be a short-term health insurance plan that would give you basic catastrophic protection at a lower price point than you’d get with a regular (non-subsidized) health insurance plan. Such a plan would be a good way to bridge the gap until you can get a new plan in the next open enrollment period.
[button url=”″]Get a Quote on Short-Term Health Insurance Now[/button] * What’s the bottom line?
The bottom line is that you need to do your best to pick a good health insurance plan and plan to keep it for at least the rest of the year. A licensed health insurance expert – like us! – can help you understand the details so you can make a good choice. But rest assured that if you change you’re mind, you’re not legally locked into anything.
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