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How to Cancel Aetna Health Insurance

Canceling a health insurance plan can be as easy as calling up your health insurance company and asking them to cancel the plan. But canceling a health insurance policy without having a new health insurance plan in place (or alternative coverage such as Medicare) could leave you open to a fine. If you are outside of Open Enrollment, you can only buy health insurance if you qualify for a Special Enrollment Period. It is vital to line up your next health insurance plan before you cancel your existing policy. That way, you never have a gap in health insurance plans.

If you are terminating your Aetna health insurance plan that you purchased on a health insurance marketplace, like healthcare.gov or a state marketplace, you can cancel the policy by logging into your marketplace account, selecting “My Plans & Programs,” and hitting “End (Terminate) All Coverage.” Set your plan end date and follow the final instructions to end your plan. You can also call the marketplace help center if you require help or are switching to a government-run health program.

If you are canceling a privately bought plan, you can call your health insurance company directly. Your insurer’s phone number should be printed on your plan, health insurance card, and your premium bills. Your insurer may allow you to terminate over the phone. They may also necessitate that you fax or mail them a confirmation letter.

If you want to cancel an employer-provided health insurance plan, talk to your Human Resource department or the individual at your company that handles benefits.

When Life Changes, So Can Your Health Insurance Policy

If you have health insurance plans through your employer, you can change them during open enrollment. It is your opportunity to choose a new health plan, pick new benefits, or cancel your current plan

The only other time you can change your health plans if when you:

• Lose your health coverage because your spouse or domestic partner lost his or her job
• Give birth or adopt a child
• Get married
• Get a divorce or legal separation

When Job-Related Changes Occurs

Losing a job or changing jobs typically means giving up the health insurance plan you have through work. Here are some choices for getting new health coverage:

• Find out if you can stay on your employer’s health insurance plan for a period of time through the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA)
• Know your rights. The health insurance portability and accountability act of 1996 (HIPAA) makes it easy for persons to change jobs without losing health coverage
• Purchase an insurance plan on your own
• Join a government program like Medicaid

Graduating University?

This may be the first time you are thinking about health benefits. To get covered, consider these choices:

• Join or stay on your parent’s health insurance coverage. Contact the employer’ Human Resources department for additional information.
• Enroll through a new employer
• Purchase a new plan on your own

References and Resources

• Consolidated Omnibus Budget Reconciliation Act
• Young Adult Health Insurance Coverage