Son missed enrollment, income too high for medicaid now.

Hello. My son is currently living on his own in NJ, he is in his 20’s. The past 3 years he was not employed, in 2021 he was under the required income level to get insurance. He sold a property he inherited from his mother last year and put the money into investments. He paid taxes on it in April and just called me today saying that because he is getting dividends on the investment, at the current rate (based on the last 5 months) he will be getting around $30,000 in investments this year. I got upset because I know he will now be above the “poverty” income level and is required to have health insurance or pay a penalty in NJ. The problem is that he didn’t know this and did not enroll in November-January.

He invested the money at the end of last year, so I am pretty sure the 60 day “income change” rule for circumstantial enrollment doesn’t apply to him. He did not realize he would be making so much in dividends, but due to the rate changes its looking like he will. Would he put down that this is an exceptional circumstance in order to apply on the getcovered site? The law says he needs to get insurance or pay a substantial tax, but it also looks like he doesn’t qualify for any of the other “life events” to apply for insurance at this time.

Any one with experience or knowledge that would help with his situation would be appreciated, thank you.