A qualifying event is any life change which makes you eligible for a new health insurance plan outside of the annual open enrollment period. A qualifying event can include adopting a kid, having a newborn, or moving to a different residence.
A new baby is a big step for a newly-minted parent. You should also consider what kind of coverage is best for your family. You can lower your costs if you add a newborn into your high-deductible plan.
Special enrollment periods may be triggered by major life changes, giving you more flexibility to choose a plan. These special enrollment periods may occur at any point during the calendar year, and allow you to select your plan up to 60-days before an event qualifies.
The loss of insurance coverage qualifies as a qualifying event
The most common qualifying situation that leads to a special enrollment is when you lose minimum essential health insurance. In the event that you are divorced or lose your health coverage, you will need to provide proof to enroll in a different plan.
A special enrollment period can also be created if there are other qualifying events. An example is if your plan ends when you reach 26. Turning 26 means you can no longer get the same type of coverage you had as a young adult.
A new job is a qualifying event
When you begin a new career, you will usually be given a special period of enrollment that allows you sign up for coverage through your employer. However, if you pick up your own coverage, you will have to wait until the next open enrollment period for your current employer-based coverage to take effect.
Change of Residence Is a Qualifying Events
Gwen could sign up for an insurance plan that would protect her health and the health of her family if she moved from Miami with her kids to Philadelphia. This could save her money since she will not have to pay for the insurance premiums she would have had to pay if they stayed at their old house.
Divorce is an Event Qualifying
Max, 25-year-old Brooklyn man who is divorced from his spouse, can enroll in another plan in order to make sure that he, his children, and their health care needs are met. It's a good time to review your options for coverage with Anthem, as many health insurance carriers offer plans that are designed to adapt to changing life circumstances.
A few exceptions are if you're a new student who doesn't yet have any dependents, or if you have a special enrollment period already in place. Members of religious congregations may qualify for additional exceptions.