Which of the following is a qualifying life event for a Special Enrollment Period?

The birth of a child is considered a qualifying life event that allows individuals to enroll in or make changes to their health insurance coverage during a Special Enrollment Period. This event is significant because the arrival of a new child often leads to changes in healthcare needs and expenses for the family. The Affordable Care Act recognizes this pivotal moment and grants families the ability to update their health coverage to ensure that the newborn is adequately covered and that the parents’ plans reflect their new situation.

While loss of a job and change in employment status can also qualify for a Special Enrollment Period, the specific criterion for these events is that they directly impact access to health insurance, often leading to a loss of coverage rather than a change in family healthcare needs, which is why the birth of a child is highlighted among common qualifying events. An annual financial audit, on the other hand, does not impact an individual’s health insurance eligibility or coverage directly, hence it is not considered a qualifying life event.