What is typically considered a "qualifying life event" for special enrollment periods?

A "qualifying life event" is a significant change in a person's life that allows them to enroll in or make changes to their health insurance outside of the regular open enrollment period. Both changing jobs and turning 26 years old are occasions that can trigger special enrollment periods.

When someone changes jobs, they may lose their previous health coverage and become eligible for a new plan through their employer or the insurance marketplace. This transition can significantly impact their health insurance status, making it a valid reason to enroll or switch plans.

Turning 26 years old is another crucial life event because it marks the age when an individual can no longer remain on their parents' health insurance plan. This typically requires the individual to seek their own health insurance, either through an employer or the marketplace, thus triggering a special enrollment period.

Recognizing both scenarios as qualifying life events allows individuals to maintain health insurance coverage during critical life changes, ensuring they have access to necessary medical care.