This week we will be focusing on whether or not moving can affect your healthcare coverage. And the general rule of thumb is yes, it most likely will. What many people do not realize is that when they move states, if they do not have employer-sponsored healthcare, they will most likely have to change their healthcare coverage.
This is especially true for those on a federally funded plan such as ACA, Medicaid, Medicare, or Marketplace. One of the things that are required is that you change your address with them, even if move across town to a different zip code. If you have a Marketplace plan, when you move, you would need to log in to their portal and update your residential address. At times, you may be able to still end up on the same plan, but often, that is not the case.
It is important to note that insurance plans, as well as Marketplace, vary from state to state. Even though Marketplace is a federal program, coverage varies greatly regionally, even though many people presume it is the same nationwide.
A lot of states have their own exchanges and thereby have their own coverages. There’s a level of a federal ruling that the state has to comply with, and various states can then add their own additional rules of items that have to be covered. California is a good example of this. A good idea is to find out and research what is available and the potential rule changes before you move.
This where I can come in and can assist you. I am a licensed insurance agent for my resident state of Texas, but also hold non-resident licenses in multiple states. The licenses are not federal, they are state-issued. This means I am knowledgeable in the rules are regulations of the various state markets. When it comes to Marketplace for example, with my skills and experience, I am able to assist you – that when you change your address, we can hopefully select the same plan or one very similar to it.
Another change, other than the address that can affect your coverage is a marital status change. On Marketplace, this is seen as an income change too. You are now considered and evaluated based on your household income. Marital status is one of what they call ‘qualifying events’.
These are life events/changes that allow you to make changes to your coverage throughout the year. Getting married, divorced, having a baby, or death are examples of qualifying events. These events provide you with a 60-day window in order to make changes to your healthcare.
Book an appointment with me on www.jkappconsulting.com and I’ll be happy to help you navigate your healthcare concerns relating to your move.