Loss of Health Insurance: Understanding Your Options After a Qualifying Event

Losing health insurance can be a stressful and confusing experience. However, thanks to the Affordable Care Act (ACA), you have options for coverage even after a qualifying event, such as the loss of employer-sponsored health insurance.

What is a Qualifying Event?

A qualifying event is an event that triggers the ability to enroll in a health insurance plan outside the annual Open Enrollment Period. Some common qualifying events include:

Loss of employer-sponsored health insurance
Marriage or divorce
Birth or adoption of a child
Permanent move to a new state

Filing a Complaint

If you have lost your health insurance due to mismanagement or bankruptcy of the trust fund, you should file a complaint with the Employee Benefits Security Administration (EBSA). The EBSA protects the rights of individuals covered by employee benefit plans.

Getting New Health Insurance

After losing your health insurance, you have several options for getting new coverage:

ACA Marketplace: You can apply for health insurance through the HealthCare.gov marketplace. You may qualify for subsidies to reduce your monthly premiums.
Medicaid: If you meet certain income and family size requirements, you may qualify for Medicaid, which provides free or low-cost health insurance.
COBRA: If you lost your employer-sponsored health insurance, you may be eligible for COBRA, which allows you to continue coverage at your own expense.

Important Considerations

Time Limit: You have 60 days from a qualifying event to enroll in new health insurance.
Retroactive Coverage: If you enroll in a plan within 60 days of losing coverage, you may be able to get retroactive coverage back to the date of the qualifying event.
Professional Help: If you need assistance finding the best plan for your needs, consider seeking help from a licensed health insurance agent.

Conclusion

Losing health insurance can be a difficult experience, but understanding your options and taking timely action can help you secure the coverage you need. The ACA provides several avenues for getting health insurance after a qualifying event, and filing a complaint with the EBSA can help you protect your rights. By following the steps outlined in this blog, you can navigate the process of getting new health insurance with confidence.