A qualifying event is a life change that makes you eligible to enroll in a new health plan outside of an annual open enrollment period. Some of the most common qualifying events include having a baby, adopting a child, and moving to a new residence.
As a parent, having a baby is the most important thing you can do. This is also the time to think about what type of insurance coverage will work best for you and your family. A newborn is a great way to reduce your out-of pocket expenses if your plan has a high deductible.
Another reason that it's so important to be prepared for major life changes is that they may trigger special enrollment periods, which give you more flexibility when it comes to choosing 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.
Loss of coverage is a qualifying event
The loss of minimum essential coverage for health is the most common qualifying event. You must show proof that you lost your coverage if, for example, you got divorced.
You may also qualify for a special enrollment period if, after turning 26, you no longer have coverage through your parent's policy. The reason is that turning 26 is the age at which you will no longer be eligible for coverage of the same level as when you were a younger adult.
A new job is 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. If you choose to purchase your own insurance, your employer-based coverage will not take effect until the next open registration period.
Change in Residence is a Qualifying Event
If Gwen moves from Miami to Philadelphia with her children, she may be able to sign up for a new plan to help protect her and her family's health. It could be an excellent way to save some money as Gwen won't have to pay the same premiums if she had stayed in Miami.
Divorce Is a Qualifying Events
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. You should review your Anthem options as many carriers of health insurance offer plans that can adapt to changing circumstances.
If you are a first-year student and do not have dependents or have an existing special enrollment period, you may be eligible for a special registration period. You may be eligible for a different special enrollment period if you are a member of an organized religious group.