The health insurance Open Enrollment period for 2016 is quickly coming to a close.
After January 30th, the enrollment period ends.
There are a few insurance companies that will accept applications after the 15th of this month, but the applications must be electronic.
Once the Open Enrollment period ends, you will no longer be able to purchase an individual health plan for the rest of 2016.
After Feb. 1st, Insurance companies will only offer health insurance plans to individuals who have special qualifying events. The Special Enrollment Period (SEP) events that are allowed throughout the year are:
- Loss of group coverage. You must apply for new coverage within 60 days.
- Aging off your parent’s health plan if you are turning age 26. Again, you need to select and enroll in a new health plan during the 60 day period.
- Your COBRA coverage ends.
- You no longer qualify for employer group coverage (work hours were reduced).
- You move into a service area that your health plan does not cover.
- Your employer discontinues your group coverage.
- Your employer no longer contributes to your group plan.
- You lose Medicaid coverage.
- The person you were enrolled under dies.
- Loss of your job.
- Your marital status changes in a separation from a spouse.
- You declare bankruptcy (chapter 11).
- The individual you were covered under becomes eligible for Medicare.
- A legal guardian disenrolls you from the Children’s Basic Health Plan.
- You become ineligible under the Colorado Medical Assistance Act.
If you do experience one of these special qualifying events, keep the letter to confirm and attach it to your application with the 1st month’s premium.