People need to be aware of is, qualifying events.
Stipulations on the Marketplace:
- Open enrollment is between November 1 and December or January 16.
- That’s the time you can elect plans, change your plan, etc, etc.
- But what happens if you lose coverage?
- So if you lose coverage that qualifies as a Special Enrollment Period, SEP, or a qualifying event.
So what is an actual qualifying event?
- losing your coverage
- having a baby
- moving
- change of zip code
- a death
- you get married
- you get divorced.
Those are all qualifying events.
Losing your coverage:
- You have 60 days to enroll in another plan.
- If you don’t enroll by the end of that current month, you will not have coverage the following month because we can’t backdate it.
- There’s also some penalty for not having coverage for that one month if you miss the 60-day window.
- We do have until the last day of the month to get some coverage in place. But you know, you may need time to look over quotes and make a decision, we don’t want to wait too long. As soon as you know, you’re going to lose coverage, let me know.
- If you lose your job, normally the insurance ends at the end of the month. Just get with me as quickly as possible, hop on my website, and book a time.
The other qualifying events I talked about, there’s a caveat to those.
- If you have a baby, or you move, yes, it’s a qualifying event but you’re unable to enroll in, insurance unless you had coverage the 60 days prior. A lot of people don’t know that.
- You can’t just move and then go and get coverage. It doesn’t work that way.
- It’s really important again, that 60-day rule: you have to have 60 days of coverage before your qualifying event, or losing coverage is a qualifying event, and then we have 60 days to enroll you.
I am here to help. Please feel free to reach out to me.
