A qualifying experience is a significant life change that makes it possible to enroll in an alternative health plan outside the open enrollment periods. A qualifying event can include adopting a kid, having a newborn, or moving to a different residence.
One of the most significant things a parent can do is to have a child. A new baby is a great time to decide what type of health insurance will be best for your entire 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 period can happen at any time during the year. You are usually able to select a plan 60 days prior to a qualifying life event, like a marriage or birth.
Loss of Coverage is a Qualifying Event
Losing the minimum essential health coverage is one of the most common events that can trigger a special period. In the event that you are divorced or lose your health coverage, you will need to provide proof to enroll in a different plan.
You may also qualify for a special enrollment period if, after turning 26, you no longer have coverage through your parent's policy. It is because you are no longer eligible for the same coverage as you were when you were younger.
The new job is an event that qualifies
If you get a new job, you can usually expect to receive a special enrollment period that allows you to sign up for employer-based coverage. You will need to wait until next open enrollment to get your employer's coverage if you decide to buy your own.
Change in Residence is a Qualifying Event
Gwen, who is moving from Miami to Philadelphia to live with her family, may be eligible to enroll in a new health plan that will protect her and her entire family. This could help her save money by not having to pay premiums if Gwen had stayed where she was.
Divorce can be a qualifying event
Max, 25, a Brooklyn-based man, can enroll in a different plan if he divorces his wife. This will help him and his children to continue receiving the medical care they require. Anthem's plans can be adapted to your 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. You may be eligible for a different special enrollment period if you are a member of an organized religious group.