Qualifying Event Necessary for Sign-Up
| With many insurance companies losing money on Federal Exchange plans, the Obama Administration is tightening rules on allowing people to sign up outside of the Open Enrollment Periods.
Insurers claim the rules are too broad with people getting coverage because of an illness rather than a legitimate Qualifying Life Event. That leads to higher healthcare costs because an influx of “sicker” people increases cost of coverage. Now there are 33 categories that allow people to sign up during Special Enrollment Periods throughout the year. The Qualifying Life Events include circumstances like getting married, divorced, losing a job, moving, having a child, or gaining citizenship. Federal officials said nearly 950,000 people enrolled outside of Open Enrollment between February and June of 2015.
For a complete list of qualifying life events, go to Life Events.