Do You Have a Qualifying Life Event?
Sometimes, things in life happen that you didn’t plan for, such as losing health insurance. When this happens, you may still be able to receive health insurance due to special events. So, what is a qualifying life event?
Open enrollment for health insurance is when most Americans choose coverage, but there may be times when you need coverage outside of this period due to changes in your life. There can be several reasons why your insurance changes. Understanding what qualifying events are and how they can affect your insurance is essential to being covered.
What Is a Qualifying Life Event?
A qualifying life event, or QLE, is when something happens in your life that affects your health insurance coverage. It could also be when your policy is canceled due to circumstances out of your control or when your qualifications change. When this happens, you are eligible to purchase health insurance during a special enrollment period.
How To Get Coverage for a Qualifying Life Event?
If a QLE modifies your eligibility for health insurance, you can shop for coverage outside of the traditional enrollment period. This is called the special enrollment period and it can be at any time throughout the year when a qualifying life event changes your insurance plan.
This enrollment period usually lasts no longer than 60 days from the date your insurance coverage changes or ends. That means you need to apply for insurance within those 60 days or you may have to wait until the next open enrollment.
What Counts as a Qualifying Life Event?
What is a qualifying life event? That is a normal question many people ask when applying for insurance after the open enrollment period. There are four categories of QLEs:
Change in residence:
When you move around, your insurance can change. Moving to a different state, leaving a temporary housing like a shelter and moving to or from a college are all instances of residence changes that affect insurance coverage.Loss of coverage:
Losing insurance could be from many situations, including switching jobs or eligibility requirement modifications. A common QLE in this category is when someone turns 26 and is no longer placed under a parent’s insurance policy. Household changes: Changes in your household can affect your insurance coverage. This could be due to marriage, divorce or even having a baby.Miscellaneous changes:
There are also other changes that do not fall under the other three categories, yet are still included as QLEs. Becoming a U.S. citizen, income changes and status with AmeriCorps are all miscellaneous events that may affect insurance eligibility.
If you are not sure whether an event is a QLE, be sure to ask an insurance agent. There are exceptions to the standard list of events and an agent can help you determine if you qualify for insurance coverage outside of the customary enrollment period.
Coverage for a Qualifying Life Events
If you are concerned about your health insurance coverage after something in your life changes, don’t worry. You may be eligible for health insurance due to a qualifying life event. For more information on qualifying life events, contact us today or give us a call at (707) 823-3689. Like us on Facebook, find us LinkedIn and subscribe to our blog for updates and news.
