Special Enrollment Periods
Changes in your life can affect your Medicare Advantage and Medicare prescription drug coverage. Insurance is important, and you don’t want to wait around for something bad to happen. Although there are specific times when you can sign up for these plans, there are certain events in your life that make you eligible to make changes to your plan in small windows. These special types of events and times, known as Special Enrollment Periods, can be your key to new insurance.
In addition to major life events like moving or losing coverage, Special Enrollment Periods can also apply in more specific situations. For example, if you qualify for Extra Help with prescription drug costs, move into or out of a skilled nursing facility or long-term care facility, or if your current plan changes its contract with Medicare, you may be eligible to make adjustments. There are also Special Enrollment Periods available for individuals affected by natural disasters or other emergencies that disrupt normal enrollment timelines. Because each situation has its own rules and deadlines, it’s important to speak with a licensed insurance professional who can evaluate your circumstances and ensure you don’t miss an opportunity to secure the right coverage for your needs.
Do I qualify?
First of all, if you qualify for a Special Enrollment Period, you usually have up to 60 days following the event to enroll in a plan. Some of the events that make you eligible for Special Enrollment Periods are: If you end up losing your health coverage, if you move to a different zip code (out of state), marry your spouse, and have to put someone new on your plan, having a baby, or even adopting a child. If you experience a qualifying life event, you can take advantage of a Special Enrollment Period to make changes to your individual health plan or buy a new one. Situations qualify you for a special enrollment period and are on a case-by-case basis. See a list of these complex issues at Healthcare.gov.
What if I missed the 60-day period?
Even with SEP, some people won’t be able to make that 60-day period due to these events in their lives. If you happen to miss enrollment chances, you might be able to get insurance through public programs. These programs, such as Medicaid or CHIP, can be checked for qualification at Medicaid.gov. Insurance isn’t just for those who think something might happen. Ultimately, Insurance is for those who want to be safe in case something does happen.
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