Your ability to purchase health insurance outside of open enrollment for Obamacare may be different from state to state. Often, you may be limited to the occurrence of a qualifying event. If you don’t have a qualifying event, find out how you can still get health insurance coverage.
Outside of open enrollment for Obamacare, your ability to purchase health insurance may vary from state to state. It may be limited to the occurrence of a qualifying event, such as the loss of a job, a marriage or divorce, a move, or the birth of a child.
You may be able to purchase a non-compliant plan or a short-term health insurance plan, but these won’t meet the standards of the Affordable Care Act and their benefits will likely not be as comprehensive. You will also have to pay the tax penalty if you’re not enrolled in health reform-compliant health insurance.
If you are looking for some options to fill the gap between enrollment periods for Obamacare, you may be able to purchase short-term health insurance.
Short-term health insurance
Short-term health insurance products are designed to provide consumers with protections against unforeseen medical bills, typically for a period of between 1 and 12 months. Short-term plans are not major medical health insurance plans.
Short-term plans typically don’t provide coverage for pre-existing medical conditions, preventive medical care, or prescription drugs. However, they’re often easier to qualify for, tend to be relatively affordable, and often meet the temporary coverage needs of many consumers.
Short-term health insurance products don’t meet the requirements of the Affordable Care Act in 2014, and therefore do not comply with the individual mandate to have health insurance. This means that buying short-term health insurance won’t exempt you from the tax penalty.