Life Changing Events: What They Mean for Your Insurance Coverage

Today we want to discuss with you what qualifies as a Life Changing Event and what steps need to be taken to make sure your coverage is up-to-date and accurately reflects those changes.

A Qualifying Life Event is a change in your life that can make you eligible for a Special Enrollment Period. All this means is that you can enroll or make changes to your plan outside of the Open Enrollment Period.

Here are Life Change (Qualifying Events):

·        Get married or divorced

·        Have a child, adopt a child, or place a child for adoption

·        Have a change in income

·        Get health coverage through a job or a program like Medicare or Medicaid

·        Change your place of residence

·        Have a change in disability status

·        Gain or lose a dependent

·        Become pregnant

·        Adopt a child or placing a child for adoption or foster care

·        Experience other changes that may affect your income and household size

·        Other changes to report: change in tax filing status; change of citizenship or immigration status; incarceration or release from incarceration; change in status as an American Indian/Alaska Native or tribal status; correction to name, date of birth, or Social Security number.

If these changes qualify you for a special enrollment period to change plans, in most cases you have 60 days from the life event to enroll in new coverage. If the changes qualify you for more or less savings, it’s important to make adjustments as soon as possible.

If you have additional questions about Life Changing Events, what qualifies as one, or how to make changes to your current policy, give Benjamin a call and he’ll walk you through the process. His industry knowledge and relationship with carries will ensure you receive the best policy rates possible.  CALL NOW: 845-492-3999