We’ve all heard about “qualifying events for health insurance” but, most of us don’t know what it is all about. In short, when you enroll in an health insurance plan, you are told that you can only make changes to it if a qualifying event occurs. It is of utmost importance to understand qualifying events if you plan for changes in the future.
Quote: A Qualifying Event is a condition such as terminal illness or a event that permits an acceleration or continuation of benefits or coverage. It’s an occurrence that dramatically changes your health insurance needs.
What is the purpose of qualifying events for health insurance?
A qualifying event will allow you to make changes or adjust your healt insurance coverages without waiting the annual enrollment period. It’s important though to report the event to your insurance company and allow them to make the changes within 60 days of the event.
Types of qualifying events for health insurance
The most important types of qualifying events are:
-marriage
-divorce
-birth of a child (or adoption)
-death of a dependent
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