If you have a qualifying life event or have legal separation, you can still get coverage. If not, you can consider short-term plans or a special enrollment period. If you’re losing your current coverage, you can still apply for a new plan 60 days before it ends. But you’ll have to wait until the next Open Enrollment period. Read on to learn more about this process.
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Qualifying life events
There are several times when you may be able to sign up for health insurance outside of the enrollment window. These situations include having a qualifying life event, such as getting married or having a child. A qualifying life event can give you access to a special enrollment period during the year to change your health plan. These events can include a birth or adoption. These events will trigger a special enrollment period and allow you to join the health insurance plan of your choice.
Qualifying life events can be any event that changes your situation, affecting your ability to maintain coverage under an existing health plan. These events include marriage, divorce, and having a child. Many health insurance providers will allow you to change plans if these events have taken place within 60 days. However, you will need to present proof of the qualifying event to be eligible for this special enrollment period.
Short-term plans
The cost of short-term health insurance varies depending on where you live in the U.S., your age, gender, tobacco use, and income. For example, in Texas, an individual can expect to pay approximately $245 per month for short-term insurance. Before signing up for any short-term plan, consider whether you will need the services provided by the insurer. The price and level of coverage of the policy are also important factors to consider.
The main disadvantage of short-term health insurance is that it doesn’t meet the requirements of the Affordable Care Act, making it a poor substitute for a traditional health plan. Unlike ACA-compliant health plans, these plans typically do not cover pre-existing conditions. You will also pay higher premiums than with regular plans. However, these plans are still a viable option if you don’t need comprehensive coverage for a long period of time.
Special enrollment periods
The Centers for Medicare & Medicaid Services (CMS) has extended the Special Enrollment Period (SEP) to August 15, giving new enrollees more time to compare their options and take advantage of increased savings. A SEP gives consumers up to 60 days to make changes to their coverage needs after a change in their income, or if they’d like to change their current plan. During SEPs, the price of health insurance plans decreases, and subsidies are available to those who need them most.
A SEP can be particularly beneficial for people who don’t qualify for the open market or have high-deductible health plans. Under the Affordable Care Act (ACA), SEPs will let people with incomes under 150% of the federal poverty level apply for subsidized health insurance plans. This enrollment period will last through the end of 2022 if the American Rescue Plan extends its subsidy enhancements. It’s optional, but some state-run exchanges are offering SEPs for consumers who qualify.
Getting coverage after a divorce or legal separation
Many employees may opt to stay on their current employer’s health plan after a divorce or legal separation. However, it’s important to note that most insurance carriers don’t allow you to remain on your spouse’s plan after a legal separation. So, it’s crucial to check with your employer to ensure that you’re still eligible for coverage. You may also want to consider filing for a complaint for limited divorce, which resolves similar issues as a regular divorce but cannot be converted into a judgment of dissolution.
In many cases, divorce leaves a spouse without health insurance through his or her employer. If this is the case, obtaining coverage under COBRA can help. This government program allows ex-spouses to continue coverage for 18 to 36 months after their divorce. In most cases, however, your ex must have worked for a company that had 20 or more employees. If your ex was self-employed, however, most states have a mini-COBRA program for small business owners.
