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Life is full of unexpected changes, and your health insurance needs can change right along with it. Events like getting married, having a baby, losing employer-sponsored coverage, and moving can all impact the type of health insurance that’s right for you.
These life changes are known as qualifying life events (QLEs). A qualifying life event is a major life change that may allow you to enroll in or change your health insurance outside the annual Open Enrollment Period. Common examples include changes to your household, residence, health coverage, and, in some cases, your income. When you experience a qualifying life event, you may qualify for a Special Enrollment Period (SEP), which allows you a limited amount of time to select a new health plan or update your current coverage.
Common Qualifying Life Events
You may qualify for a Special Enrollment Period if you experience a major change such as:
- Getting married
- Getting divorced or legally separated
- Having a baby
- Adopting a child or placing a child in foster care
- Losing employer-sponsored health insurance
- Losing eligibility for Medicaid or the Children’s Health Insurance Program (CHIP)
- COBRA coverage ending
- Turning 26 and aging off a parent’s health plan
- Moving to a new area with different health plan options
- Death of a family member that results in a loss of coverage
Keep in mind that voluntarily canceling your health insurance or missing premium payments generally does not qualify you for a Special Enrollment Period.
What You’ll Need
To verify your qualifying life event, you may be asked to provide documentation, such as:
- A marriage certificate
- A birth certificate or adoption records
- A divorce decree
- A death certificate
- Proof of lost health coverage
- Proof of your new address, such as a lease or mortgage document
The required documents depend on your specific situation.
What If You Don’t Qualify?
If you don’t qualify for a Special Enrollment Period, you may still have other coverage options. Depending on your income, household size, and eligibility requirements, you may qualify for Medicaid or the Children’s Health Insurance Program (CHIP), which generally accept applications year-round. Otherwise, you can enroll in a Marketplace health plan during the next Open Enrollment Period.
If you aren’t sure whether your situation qualifies, contact the Health Insurance Marketplace, your insurance provider, or a licensed insurance agent. They can help you determine your eligibility and discuss your next steps.
For more information about special enrollment periods, check out this article: https://empowerhealthinsuranceusa.com/what-is-a-special-enrollment-period/
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.
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