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Qualifying Life Event — Job Loss
Losing job-based health coverage triggers a Special Enrollment Period to get new insurance outside open enrollment.
Full Definition
Losing health coverage due to job loss (voluntary or involuntary) is a qualifying life event (QLE) that opens a Special Enrollment Period (SEP) — typically 60 days — to enroll in a new health plan outside the regular open enrollment window. Options include: ACA Marketplace plan (often with subsidies; losing job-based coverage makes you eligible regardless of income); COBRA continuation coverage (keeps your current plan but you pay the full premium); Medicaid (if your income drops below eligibility threshold); or a spouse or parent's plan. Note: you must have lost coverage — simply losing a job while keeping coverage does not trigger an SEP.
Real-World Example
You're laid off on March 15 and lose your employer health coverage on March 31. You have until May 29 (60 days from March 31) to enroll in a Marketplace plan. Your new income qualifies you for subsidies, reducing your premium from $600 to $180/month.
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