Voluntary Loss of Group Health Insurance and Special Enrollment Period
Losing your employer-sponsored health insurance whether it was voluntary or not is a special event that allows you to enroll in an individual ACA health insurance plan. For instance, If you leave your job voluntarily or are laid off, get divorced, if your plan is discontinued, or if you age off your parents’ plan, you are all considered qualified for a special enrollment period.
What is a Special Enrollment Period?
A Special Enrollment Period (SEP) is a time outside the regular Open Enrollment Period when you can enroll in health insurance. You may be eligible for a Special Enrollment Period if you have a qualifying life event, such as losing your job, getting married, or having a baby.
Can I Get ACA Subsidies?
If you lose your job-based health insurance, you may be eligible for premium tax credits to help you pay for health insurance. Premium tax credits are available to people with incomes between 100% and 400% of the federal poverty level (FPL).
How to Enroll During a Special Enrollment Period?
If you have a qualifying life event, you can enroll in health insurance during a Special Enrollment Period by contacting a licensed health insurance agent or by visiting the Health Insurance Marketplace.
Note: These are examples, please consult with your licensed health insurance agent to find out which special enrollment period you are eligible for.
Question? or Need a Free Quote?
Contact Us
Reach out to us for free expert insurance advice and solutions. We will help you solve ACA (Obamacare) related questions and problems. Will contact you within 24 hours of receiving your message.