Definition
A major life change that allows you to enroll in or change health insurance outside of open enrollment. Examples include marriage, divorce, having a baby, losing employer coverage, moving to a new state, or aging out of a parent's plan at 26. You typically have 60 days from the event to enroll.
Related Terms
- Deductible
The amount you must pay out of pocket for covered healthcare services before you...
- Copay
A fixed amount you pay for a covered healthcare service after you have met your ...
- Coinsurance
Your share of the costs of a covered healthcare service, calculated as a percent...
- Out-of-Pocket Maximum
The most you have to pay for covered services in a plan year. After you spend th...
- Premium
The amount you pay each month for your health insurance coverage, regardless of ...
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