Are you aware of the Special Enrollment Period (SEP) with the Affordable Care Act. According to reports, over 1.8 million Americans have registered to get new health insurance coverage with the 2021 Marketplace SEP between February 15 and July 31, 2021.
Special enrollment periods allow individuals to enroll in healthcare insurance plans or switch plans outside of the annual open enrollment period. Depending on your income status and other circumstances, you may be eligible for special enrollment with myObamacare. Before planning to with myObamacare, let’s check out the eligibility and other necessary information.
Overview of Special Enrollment and Its Qualifications
The Special Enrollment Period is when you can enroll for coverage outside of Open Enrollment. An individual can only qualify for this special enrolment only under certain circumstances.
You may be eligible for a special enrollment period if certain events occur in your life, such as loss of health insurance, sudden relocation, marriage, planning for birth or adoption of a child, or if your overall household income is lower than a certain amount.
Our licensed agents are happy to identify if you qualify for coverage in just 5 minutes. You will have 60 days before or 60 days following the event for the plan to enroll.
Special Enrollment Opportunity for People Below Federal Poverty Line
There is a special SEP plan available for people under the Federal Poverty Line. According to HealthCare.gov, individuals who are eligible for premium tax credits and also individuals expecting their annual income to be not more than 150% of the federal poverty level are eligible to apply for SEP – a special enrollment period. myObamacare often surprises our clients when they find out they qualify because of their income. This is often the main reason for enrollment. Even if you think you make too much or too less you will never know for sure unless you speak to our agents to get a quote.
In case you have missed out on the Open Enrollment period, the Special Enrollment Period will be available for you throughout the year. We enroll individuals in coverage throughout the entire year. At myObamacare we specifically eliminate health disparities by catering to this population. There are too many people with uncertain income that sacrifice their health because they believe they are unable to afford it. We aim to eliminate that assumption.
An individual can sign up for a health coverage plan at any metal level of coverage. However, depending on your income status, we will figure out the best plan dedicated to your needs and finances.
As part of our agent's enrollment process, we offer silver plans with cost-sharing subsidies that can greatly decrease deductibles, copays, and out-of-pocket expenses. In case you have registered or signed up during your Open Enrollment Plan, and the income level falls below or to 150% of the Federal Poverty Line, you will be eligible to use this specific SEP to switch or change plans.
Final Takeaways on Special Enrollment Period
The Special Enrollment Period plans are available to make sure every individual in the United States gets the benefits of healthcare insurance coverage. Before applying for the SEP, the individual should be aware of the eligibility or qualifications. It is better to contact your liscened agent to stay updated on your coverage and options. If you are looking for special enrollment, myObamacare will help you get easy access. If you are unsure if you qualify but need coverage call our agents at 833 MY-OBAMA (833) 696-2262 we would be happy to help.
- The Special Enrollment Period (SEP) allows individuals to enroll in or change their health insurance coverage outside of the regular Open Enrollment Period.
- Eligibility for a special enrollment period is based on certain qualifying life events, which include but are not limited to:
- Loss of health coverage
- Change in household size (such as through marriage, divorce, birth, or adoption)
- Change in residence
- Recently released from incarceration
- Income changes
- Certain other life events affecting eligibility for coverage
- The specific type of qualifying event will determine when the special enrollment period starts and how long it lasts.
- Generally, individuals have 60 days before or after the qualifying event to enroll in a plan.
- For job-based plans, a special enrollment period of at least 30 days is required.
