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Is It Possible To Change Your Health Plan Mid-Year?

Each year you have the opportunity to participate in open enrollment and pick your health insurance plan for the next policy year. With so much at risk these days and pandemics still affecting the planet, you may have a few questions about your choice. 


Is switching health insurance plans mid-year a possibility? Am I locked into that choice? What happens if I have to change my health plan mid-year? Or, even, what if I want to switch to my partner’s insurance or add new dependents to my policy? 


In this article, we are going to cover these questions and more so you can make more informed decisions regarding your healthcare coverage.


Is Switching Health Insurance Plans Mid-Year a Possibility?

Once you have chosen a health coverage plan, you cannot change the plan until the next open enrollment period. There is one exception to this rule however. 


If you experience a Qualified Life Event (QLE) then you are allowed to make changes to your healthcare plan mid-year. A QLE is defined as any major life event that impacts you and your family’s health insurance needs.

Examples of these events include:

  • Marriage
  • Divorce
  • Birth of a child
  • Death in the family
  • Loss of income
  • Loss of health coverage
  • Significant change in residence

If you experience any of these events, then you have the opportunity to modify your existing healthcare plan or switch to a new plan altogether. This can be done through either your employer or a private insurance company. You usually have 60 days following the QLE to make changes to your policy.


What Does the Plan Selection Process Look Like?

When you are switching health insurance plans, there are a few steps you need to take to make sure the process is completed thoroughly. Let’s go over a few of them:


Research Your Options

The first step is often the most important because it’s during this step that you’ll need to research what type of plans are available to you. Most employers will offer a few different plan types, while those shopping on the private market can look at various companies to find the best coverage and price.


Select a Plan

Once you have identified which plans are available to you, then it’s time for you to select one. Be sure to pick a plan that works for your budget and meets all of your healthcare needs. If you’re unsure about which plan is best for you, speak with an insurance expert or experienced broker who can help guide you in the right direction.


Enroll in the New Plan

After switching health insurance plans to a new policy, it’s important that you complete the enrollment process. This will involve providing information to the insurance companies about who will be covered under the policy and making payments to ensure that coverage remains active.


Bethany Insurance: Enrollment Made Easy

At Bethany Insurance, we are here to make sure you have the best plan possible. We understand how daunting it can be to research hundreds of plans, which is why our team is dedicated to helping you find the perfect fit for your needs. 


Whether it’s through employers or private insurers, we’ll take the time to look through every option and make sure that you’re getting the best coverage at a price that won’t break your budget. Contact us today and get started on finding your ideal healthcare plan!