Learn About What Is
Considered A Qualifying Event For Health Insurance
What Is Considered A Qualifying Event
For Health Insurance? The current health care system may have been
enforced for years, but that doesn’t stop questions like this from appearing.
Perhaps you have just come of age and are set out to get your own health
insurance. Or perhaps you have been insured for a while but have yet studied
the regulations surrounding the health care system.
When the Affordable Care Act was first introduced,
it was obvious that many would be interested. More so when those who applied
for an individual health insurance policy was guaranteed coverage approval and
enrollment. However, the government took preventive measure to avoid risks. One
of the risks is the surge of people signing up only when they are in need of
medical assistance.
Such preventive measure resulting in restricted
period of enrollment that typically takes place in November to January. But
what if a particular life event happens outside said insurance enrollment
period and leaves you needing a coverage? Widely referred to as ‘qualifying
event’, you don’t have to wait until November to sign up for a health plan.
What
is qualifying event?
If you experience a condition that leaves you in
need of medical assistance, you’re instantly eligible for special enrollment period.
These periods allow you to purchase a coverage through both federal health
insurance marketplaces and the state. Not only that, you may also purchase the
coverage through health insurance website or appointed brokers. So What Is Considered A Qualifying Event For Health
Insurance?
Affordable
Care Act’s qualifying event
Unfortunately, not every condition is considered as
a qualifying event. To avoid people from taking advantage of health care
benefits only when they need it, the ACA sets up qualification. See the
following list of qualification to find out if you’re qualified:
·
Changes in household
o
When you’re getting married, divorced, or legally
separated.
o
When you’re pregnant, placing your child in for
foster care, or adopting a child
o
Death of someone listed on your individual insurance
policy.
·
Loss of health insurance
o
Losing your COBRA coverage or a job that gives you
coverage
o
Losing CHIP or Medicaid eligibility
o
Losing Medicare eligibility
o
Losing the individual coverage or coverage you get
from particular family member
·
Changes in residence
o
Moving to the U.S. territory from foreign country
o
Moving to a new county
o
Moving from transitional housing, or the place you
work or live in.
Leaving incarceration, gaining citizenship and other
qualifying changes are also among What Is
Considered A Qualifying Event For Health Insurance.
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