The 3 Times You MUST Enroll in Health Insurance

Many are not aware that there are only a few times you have a chance to enroll in a health insurance plan! Below are the most common times to do so.

1. Open Enrollment Period (Nov. 1st - Dec. 15th)

The most common time to enroll. This time ends on the 15th & does not open again until the next year on the same date.

The reasoning behind having a set yearly period is to share the risk involved in insurance. This covers the insurer's part, since they don't want healthy people only buying health insurance when they need it, then dropping it for the rest of the year.

2. A Qualifying Life Event (Special Enrollment Period)

These events include:

- Ageing off of your parent’s health insurance plan

- Getting married

- Permanently moving somewhere with different health insurance options

- Having a change in income or household status that changes your eligibility for tax credits or cost-sharing reductions

- Your plan being involuntarily cancelled by your insurance company

- Losing your health coverage through a qualifying life event (this can be: divorce, losing your job, expiring COBRA coverage, or losing Medicaid or CHIP eligibility)

- Having or adopting a child

3. Enrolling in a Short-Term Medical Plan

These can be very advantageous because of their flexibility! A few of perks of these plans are:

- You can enroll at any time of the year

- Low, affordable premiums

- Bridge any coverage gaps you may have (peace of mind is priceless!)

- Quick approval

- Flexible Terms (cover yourself from 30 days up to 3 months)

Contact the experts today to see if these short-term plans suit your needs!