Situational changes in your life (but not changes in your health status) will create a special enrollment period during which you can buy health insurance or change your health plan. Special enrollment periods apply to employer-sponsored coverage as well as coverage that you buy on your own.
Qualifying events for individual market coverage include:
- Losing access to your existing health insurance plan for reasons other than non-payment of premium or fraud (for example, leaving your job and losing access to your employer-sponsored insurance, or getting divorced and losing access to health insurance that you had via your ex's plan).
- Gaining a dependent or becoming a dependent. Getting married, having a baby, or adopting a child are examples.
- Permanently relocating can create a special enrollment period. but since mid-2016, this has only applied if you were already insured in your previous location—you'll have an opportunity to change insurance if you move, but not to obtain coverage for the first time.
For employer-sponsored plans, qualifying events are similar, but there are some that differ (here's the Code of Federal Regulations that governs special enrollment periods for employer-sponsored coverage).
Special enrollment periods are time-limited. For employer-sponsored plans, you've generally only got 30 days from the qualifying event to enroll. In the individual market, you'll have 60 days. But if you don't sign up during the applicable window, you'll have to wait for the next open enrollment period.
Cosmo Insurance Agency is an independent insurance agency serving surrounding communities in New Jersey. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating the latest in technology-based tools and laws on healthcare, employee benefits, life insurance and finance, we keep our clients up-to-date with the plans that encompass all of their needs, whether it is individual or group insurance.
CONTACT COSMO NOW
GET A HEALTH INSURANCE QUOTE NOW
LEARN MORE ABOUT HEALTH INSURANCE