Qualifying Events
When there are certain life changes, you are given an opportunity to make some adjustments to your health plan. These changes are considered qualifying events and they allow what is considered a special enrollment period, which is any time outside of the annual open enrollment period to make changes to your health insurance plan.
These qualifying life events can be anything such as loss of health coverage, a change in residence, or a change in household. But more specifically, they can be any of the following:
- Getting married or divorced
- Having a baby or adoption
- Losing health coverage due to job loss
- Death of the insurer of the family
- Losing eligibility for Medicaid, Medicare, or CHIP
- Moving to a location that changes your health plan area
- Being kicked off parents’ coverage when turning 26
- Your health insurance provider will allow you up to 60 days after the qualifying event to make the necessary adjustments to your health plan. To determine your eligibility, you must notify your health insurance provider as soon as you are met with these circumstances.
There are certain steps you must take in order to be considered eligible and there are certain documents that you must show as well. They include:
- Anything that proves you have added family members and therefore need to change your health coverage (marriage license, birth certificate, adoption records)
- Paperwork that shows you have moved into a new area where you might need changes to your health plan (rental agreements, mortgage papers)
- Documents that show you have lost a family member and need a change in coverage (death certificate, divorce papers)
These are just some examples but, in any case, it is always good to check in with your health insurance provider to determine what is actually necessary.
Certain life events that simply do not qualify for a special enrollment period. However, there are always other options. You can apply for Medicaid. If you qualify and need health insurance, Medicaid accepts applications all year round so there is no extra waiting necessary. You may also look into other plans that do not need to abide by certain enrollment periods.
Life Insurance Questions?
We hope this information on qualifying events is helpful.
If you’d like to learn how we can help you plan your retirement, call Empower Brokerage to speak to one of our Life and Annuity experts (888) 539-1633
Get affordable life insurance quotes by clicking here.
See our other websites: