Insurance companies are required to provide a notice of termination at least 90 days before the expiration of the plan, or 180 days if the company is leaving the Colorado insurance market. The notice must contain information about any ACA-compliant plans the insurance company offers, the availability of Affordable Care Act (ACA) plans through Connect for Health Colorado, and the consumer’s ability to shop for an ACA plan offered by any other insurance company. Insurance companies cannot automatically enroll, or “map,” a policyholder into a new plan from their company.
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Both are equally important. You must report both amounts on your application.