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Benefit Year

What Does Benefit Year Mean?

A Benefit Year is a 12-month period during which an individual health insurance plan provides coverage. It starts on January 1st and ends on December 31st, regardless of when you initially enrolled. Any alterations to benefits or rates typically occur at the beginning of the calendar year.

Key Points:

  • Benefit Year: A year of health insurance coverage.
  • Runs from January 1st to December 31st.
  • Changes to plan benefits and rates usually take place at the start of the year.
References

“Glossary.” HealthCare.gov, www.healthcare.gov/glossary/.

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