Health insurance enrollment may be over but that does not mean you can’t change your health insurance program. Each of us has at one time or another had a life changing event that changed how we look at health insurance. Healthcare reform has created tremendous stress in everyone’s life. Apart from healthcare reform there are some health insurance companies and products that allow for coverage under certain situations. These are called triggering events. Triggering events often allow for a special enrollment periods.
-Return from active military duty
-Release from incarceration
-Gain of immigration status or citizenship
-Permanent move to a new state
-Termination of domestic partnership or civil union
-Change in full-time employment status
-Involuntary loss of employer-sponsored insurance
-Death of a parent or spouse
-Change in dependent status as a result of turning 26
Coverage effective dates will depend on individual circumstances. Usually there is a 60 day enrollment period for application. Therefore, if you know of a triggering event it is always best to notify the insurer as soon as possible. Customers’ effective date can be as early as 30 days prior to the renewal date. Of course as with any health insurance, there will need to be verification and documentation that will need to be submitted.
Established by company president John Roussel in 1985, Roussel Insurance & Financial Services was founded to assist business owners and professionals in their insurance and employee benefit programs. Our mission is to give you the peace of mind that your company and personal assets are properly safeguarded.
This information is intended for the client, individual or entity to which it is addressed. These articles contain concepts and opinions, and are not intended to represent the consensus of the insurance or risk community, nor to provide professional legal or tax advice. Please seek professional legal or tax counsel before making any decisions. The information provided does not change or modify any insurance policy, only the actual terms of the in-force policies will govern claim settlements.