Welcome Neighbor! Do Not Forget to Change Your Insurance!
Did you know that moving to a new location can impact your health insurance coverage? If you’re planning a move, understanding how a Special Enrollment Period (SEP) works is crucial. At SBG Insurance Group, we frequently assist clients who are relocating and need to know if their current health plan is still the best option. Often, it isn’t, because health insurance plans are designed to function optimally within specific service areas.
What Is a Special Enrollment Period?
A Special Enrollment Period allows you to enroll in or change your health insurance plan outside of the standard open enrollment period. This can be especially important if you move to a new area, as your current plan might not offer the same benefits or coverage in your new location. This SEP is available for individuals with Medicare, Medicaid, or Affordable Care Act (ACA) plans.
Medicare Special Enrollment Period When You Move
If you’re enrolled in Medicare and you move, you may qualify for a Medicare Special Enrollment Period. This allows you to make changes to your Medicare coverage based on your new location. You may be eligible if:
- You move to a new service area where your current plan isn’t available.
- You relocate within your current service area but gain access to new Medicare plan options.
- You return to the United States after living abroad.
For instance, if you move from Charlotte County to Sarasota County, you might find new plan options in Sarasota that weren’t available in Charlotte. This special enrollment period typically lasts 60 days, starting from the day you inform Social Security about your move.
How to Use the Special Enrollment Period
During your Special Enrollment Period, you can:
- Switch from Original Medicare to a Medicare Advantage plan.
- Change from one Medicare Advantage plan to another.
- Join or change a Medicare Prescription Drug plan.
ACA Special Enrollment Period When You Move
For those on an ACA health insurance plan, moving also triggers a Special Enrollment Period. This period usually gives you 60 days before or after your move to make changes to your coverage. You may qualify for this SEP if:
- You move to a new ZIP code or county.
- You relocate to the U.S. from a foreign country or U.S. territory.
- You move to or from where you attend school, work seasonally, or live in transitional housing.
It’s important to note that moving solely for medical treatment or vacation does not qualify you for a SEP under the ACA. Additionally, you’ll need to prove that you had qualifying health coverage for at least one day during the 60 days before your move, unless you’re moving from a foreign country or U.S. territory.
Why Understanding SEPs Is Important
Knowing the ins and outs of Special Enrollment Periods can make a significant difference in ensuring you have the right health coverage after a move. Each type of insurance—whether it’s Medicare or ACA—has specific rules and eligibility criteria for SEPs. If you’re unsure about your eligibility, it’s best to consult with a licensed insurance agent or the appropriate organization.
Enhance Your Coverage: Why Moving is the Perfect Time to Add Ancillary Products
Moving to a new location is not only a great time to review your primary health insurance coverage, but it’s also an ideal opportunity to consider adding ancillary products. These additional plans, such as dental, vision, hearing, or even critical illness insurance, can enhance your overall coverage and provide extra financial protection. With the changes in your healthcare needs that often accompany a move, ensuring that you have comprehensive coverage is crucial. Adding ancillary products can help fill any gaps in your coverage, ensuring you’re fully protected no matter where you go.
Contact SBG Insurance Group for Assistance
At SBG Insurance Group, our experts are here to help you navigate your options and ensure you’re on the best plan to meet your needs after a move. Our services are free of charge, so don’t hesitate to reach out to us today!
