Should i discontinue my health insurance

Either way, the loss of coverage is a qualifying event that allows the young person a special enrollment period during which they can select a new plan.

You also have 60 days after your plan ends during which you can select a new ACA-compliant plan note that HealthCare. If you enroll before the date your old plan ends, the effective date of the new plan will be the first of the month following the loss of coverage, regardless of the date you enroll. So for example, if your plan is ending July 31, you can enroll in June or July and your new plan will be effective August 1 if your plan ends mid-month, however, the new plan would still start the first of the following month, leaving you with a gap in coverage; a short-term plan might be a good option to cover those interim days.

Starting in , HealthCare. But that would still result in a gap in coverage if you enroll after your plan has ended, since the new plan will not have a retroactive effective date.

Louise Norris is an individual health insurance broker who has been writing about health insurance and health reform since She has written dozens of opinions and educational pieces about the Affordable Care Act for healthinsurance.

Her state health exchange updates are regularly cited by media who cover health reform and by other health insurance experts. We do not sell insurance products, but this form will connect you with partners of healthinsurance. You may submit your information through this form, or call to speak directly with licensed enrollers who will provide advice specific to your situation.

Read about your data and privacy. The mission of healthinsurance. Learn more about us. Key takeaways If your insurer exits the market at year-end, you qualify for an SEP. You qualify for a special enrollment period even if you have an option to keep your coverage with COBRA. Effective date rules depend on whether you apply before your old plan ends or after it ends. Find affordable health plans.

Helping millions of Americans since ZIP Code. Choose county. Step 1 of 2. About our health insurance quote forms and phone lines We do not sell insurance products, but this form will connect you with partners of healthinsurance. Read about your data and privacy. Our mission is to provide information that will help everyday people make better decisions about buying and keeping their health coverage.

Our editorial staff is comprised of industry professionals and experts on the ACA, private health insurance markets, and government policy. Learn more about our content. Buscar: Search. Skip to content. Advertiser Disclosure. How to Cancel Your Health Insurance.

Reviewed by Frank Lalli. Why Trust Our Content? Looking for Health Insurance? Provide a Valid ZipCode. Search Now. Answer a few questions to get multiple personalized quotes in minutes.

You cannot legally submit claims to two different major medical policies. Does your employer reimburse you for medical expenses through a health reimbursement arrangement HRA? If so, make sure you know the amount of allowance they provide, as this amount may impact your purchase decisions.

Know your rights: Each state provides important consumer protections through state law. These may include: the appeal of coverage decisions within the insurance company, the appeal of coverage decisions to an impartial external reviewer, prompt payment of claims, access to certain specialists and healthcare providers, and coverage of specific treatments and services.

Every state has an insurance department that is ready to help you with any question or complaint you may have about your coverage. To find out more, contact your state insurance department. Work with an insurance professional: An insurance agent or broker can be a helpful resource in canceling your policy and selecting a new policy to purchase. They can often handle most of the steps we just described for you. Share this article.

Additional Resources.