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Qualifying Event

Candlefocus Editor
A Qualifying Event is an event that triggers a special period of time in which you, as an individual or an employee, are allowed to change or enroll in a new insurance policy outside of the open enrollment period. In this time frame, the health insurance plan enrollment or changes become active shortly after the qualifying event and not at the end of the year, as is typically the case during the open enrollment period.

Examples of qualifying events, which are usually associated with a change in life status, include marriage, birth or adoption of a child, death of a spouse, change in employment, moving to a new area, and divorce. All of these events will result in a change in your insurance needs which can be difficult to address during the open enrollment period.

When a qualification event occurs, you are given a special period of time in which you can either modify your already existing health insurance plan or enroll in a new one. During this time period, you may also be eligible for a "special enrollment period", which allows for any changes or new plans made to take effect immediately after the qualifying event occurs, as opposed to waiting until the end of the open enrollment period.

Overall, Qualifying Events help ensure that individuals and families are not left without health insurance during a major life change. It is important to know that certain rules and limits may apply in terms of who can receive coverage and how much coverage is available, and to meet with a qualified insurance professional or consultant to ensure that the appropriate measures are taken.

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