Can You Switch ACA Plans Mid-Year?
Suppose you recently experienced a life event that modified your income or family status. In that case, you might be eligible for a Special Enrollment Period (SEP), which allows you to change your ACA health insurance plan outside the Open Enrollment Period.
The Affordable Care Act (ACA) provides several qualifying life events that trigger a SEP. These events include:
Marriage
Divorce
Birth or adoption of a child
Loss of health insurance
Change in income
Move to a new state
If you experience one of these events, you have 60 days to enroll in a new plan. You can do this through the Health Insurance Marketplace or directly with a health insurance company.
One important thing to note is that if you switch plans during a SEP, you will not be eligible for a new subsidy. This is because subsidies are only available during the Open Enrollment Period.
Here are some additional things to keep in mind about SEPs:
You can only use a SEP once per year.
You must provide documentation to verify your qualifying life event.
If you miss the 60-day enrollment period, you will have to wait until the next Open Enrollment Period to change plans.
If you think you may be eligible for a SEP, it’s important to contact the Health Insurance Marketplace or a licensed agent as soon as possible. They can help you determine if you’re eligible and assist you with enrolling in a new plan.
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