If you want a special enrollment period for health insurance, you’ll need to experience one of these qualifying events.
The Affordable Care Act (ACA) changed quite a significant amount about health insurance. That includes when individuals and families can buy it. If you don’t get your health insurance through work, you’ll need to purchase it independently during each year’s set open enrollment period. But what happens if you missed that period? To enroll in health insurance coverage outside of the open enrollment period, consumers must experience a qualifying event. A qualifying event is a change in your life that makes you eligible for a special enrollment period. Qualifying events include:
- Changing jobs. If you lost your workplace coverage, you’ll need to get your own policy. For this very reason, you’ll be granted a special enrollment period if you voluntarily leave your job or get fired. You can also get a special enrollment period if you lose your health benefits because your hours are reduced.
- Having a baby. Welcoming a new little one to the family (a.k.a. a dependent) whether through birth, adoption, or foster care will qualify you for a special enrollment period. This gives you the chance to buy enough coverage for your growing family.
- Tying the knot. If you just committed to someone for the long haul, your life is about to change. Your health insurance can, too, thanks to the fact that gaining a dependent through marriage or domestic partnerships qualifies you for a special enrollment period.
If you’d like to see a full list of qualifying events, please see this brochure from Blue Shield.
Having health insurance isn’t just a good idea, it’s the law. If you are not covered, you’re going to pay a tax penalty – unless you can qualify for a special enrollment period. To learn more about your insurance options, contact Donald Weiss Insurance Services today!
