What to do when you need coverage & it’s not Open Enrollment?
It’s a scenario that happens all too often. Losing health coverage can be a nerve-wracking thing to happen. It could be for various types of reasons. Lost employer coverage due to change of employment, termination, or lay-off. Maybe you decided to go Self Employed, recently moved, or policy lapses bc you forgot to pay. There are many reasons why you can lose coverage outside of open enrollment.
The good news is you might not be as out of luck as you think you are!
There are various things that can trigger, what’s called a “special enrollment period” for the government marketplace plans. Some of those things are:
Lost coverage within the past 60 days
Change of primary living in the past 60 days
Birth or death in the household in the past 60 days
Change in eligibility status in the past 60 days
Married or divorced
This is really good news as it opens the doors to guaranteed issued plans, that you can be approved for regardless of medical conditions. As a result and to compensate for claim loss, these plans can have really high out-of-pocket expenses & deductibles. Unless monthly premiums are subsidized, they can be really expensive.
Also, at any time of the year, private health plans are available 365 days a year. Most of these options (not all) are based upon health history and you do need to be approved. However, there are options that are guaranteed renewable till 65.
Private options bc the risk pools are healthier typically do have a larger network of providers, lower monthly costs, lower deductibles, and lower out-of-pocket responsibility, all without jeopardizing coverage. Now, these plans are not for everyone. That’s exactly why it’s important to speak with one of our licensed health advisors so they can understand your situation, help navigate the hundreds of different plans and narrow down to which is the best plan for you. That way you are not subjected to overpaying for coverage and know exactly how to get the most out of your health plan.
If it’s just comparing your existing coverage, a recent loss of coverage, general questions, or just a quick quote. Reach out today and speak with one of your licensed specialists.
