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.
Having a new baby is one of the most important things to do as a new parent. A new baby is a great time to decide what type of health insurance will be best for your entire family. If you have a high-deductible health insurance plan, adding a newborn to your coverage is an easy way to lower your out-of-pocket costs.
You can choose your plan more easily if you are prepared for life's major changes. These special registration periods can occur any time of the year. Usually, you have 60 days to choose your plan before a qualifying change occurs such as a new baby or marriage.
Loss in Coverage is an Event Qualifying
Losing minimum essential coverage is the most common event that triggers a special registration period. If you lose your coverage, such as if you get divorced, you need to show proof of that loss in order to enroll in a new plan.
There are also other events that qualify, like turning 26 and losing coverage from your parents' plan. This is because turning 26 is an age when you no longer qualify for the same types of coverage that you did as a younger adult.
A new job qualifies as a qualifying event
You should expect a special registration period if you are starting a job. During this time, you can sign up for the employer's coverage. 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 an Event Qualifying
Gwen may be able sign up for a health insurance plan if she moves with her family from Miami to Philadelphia. This will help her protect herself and her family. This is a good way to save money because she won't be paying premiums for the old plan if she stays in her home.
Divorce Is a Qualifying Events
Max, an 25-year old man from Brooklyn who divorces his wife can enroll in new plans to help make sure he and his kids continue to get the health care that they need. You should review your Anthem options as many carriers of health insurance offer plans that can adapt to changing 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.