Health Insurance Qualifying Events: Understanding Your Options After a Job Loss
If you have recently lost your job, you may be wondering whether you qualify for a Special Enrollment Period (SEP) to enroll in health insurance.
An SEP is a time outside of the Open Enrollment Period (OEP) when you can enroll in health insurance if you have experienced a qualifying life event (QLE).
The Loss of Employer-Sponsored Health Insurance: A Qualifying Event
Losing your job, resulting in the loss of employer-sponsored health insurance, is a qualifying event. What if you are self-employed and lose your health insurance due to a business closure?
What You Need to Know:
Proof of Business Closure: To demonstrate your qualifying event, you will need to provide documentation of your business closure. This could include a letter from your accountant or a business license that has expired.
Proof of Previous Insurance: You will also need to provide proof that you had health insurance through your business before it closed. This could be a copy of your insurance card or a statement from your insurance company.
Dependent Coverage: If your spouse or child was also covered under your employer-sponsored health insurance, they may also qualify for an SEP.
Seek Professional Help: Enrolling in health insurance can be confusing, especially during a stressful time like losing your job. Our licensed agents can help you determine your eligibility for an SEP and guide you through the enrollment process. Contact our office for a free consultation.
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