1. Marlin McKelvyPRO
    President, Consumer Directed Benefit Solutions, Memphis, Tennessee
    If you are covered under an individual health insurance policy you should be able to either contact your insurance broker to request their assistance in terminating your policy or contact Blue Cross/Blue Shield's member services department to request a termination form.

    If you purchased your individual coverage through the Federal or a state insurance marketplace and are receiving a premium subsidy then technically you should go through Healthcare.gov to cancel your coverage.  Be prepared for this to be as much of a challenge as you may have had in enrolling through the government marketplace in the first place.  There have been reports of consumers having issues in getting their marketplace purchased policies terminated even when they have been repeatedly assured that their request is or has been processed.

    If you are talking about cancelling your coverage through a group plan then you should visit with your HR department, the business owner and/or the insurance broker that your employer uses.  If you are enrolled in a group health plan and having your share of your premium taken out of your paycheck on a pre-tax basis under a Section 125 plan then simply cancelling your coverage because you feel like it may be a problem.  Generally, under the provisions of a Section 125 plan once an employee is enrolled and their premiums are being taken out on a pretax basis you are essentially locked into your enrollment until the next open enrollment period unless you have what is called a change of life status event (getting married, divorced or having a child are common examples of change of life status events as viewed by the IRS).
    Answered on May 1, 2014

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