Here are the basic steps to determine if you qualify.
The easy solution is to call your health insurance agent and ask them to walk you through the process. That’s what they get paid for.
If you don’t have a great health insurance agent, you should get one. You’re already paying for one, you may as well get the benefits.
Steps to Determine if you Qualify for an SEP
First, head over to HealthCare.gov. You will click on Get Coverage. You will be asked for your State and / or Zip Code.
Then click on the “See if you qualify for a Special Enrollment Period” radio button.
At this point you will be asked several questions in regards to you your household size, residence or income, status and if you’re a member of a federally recognized tribe or Alaskan Native. Answer these questions and hit “See if you Qualify…..”
From this point, depending on your answers, you’re either going to get a Yes, No or Maybe.
Yes means you’re good to go. Log in and apply the changes. You’ll get the chance to change plans, or simply update the plan you’re currently on.
No, well that means No. Call your Agent to discuss your other options.
Maybe means, we’ll we need more information to determine if you qualify. Most often you get this answer in relation to a change of income. You’ll be asked to login and update your application. At that point, you’ll be notified if you qualify for not. Be aware that part of your tax credit is based on your income. You should alwasy keep your application on healthcare.gov up to date, but know that any changes you make could affect the amount of tax credit you receive.
How to move Forward
Once you’ve determined if you qualify for an SEP, you have two options to complete the changes.
First, you can handle the changes yourself. It’s not too difficult and should take 30 minutes or less.
You also have the option to call your health agent, explain in 5 minutes what changes have taken place in your life, and they can make those changes on your behalf.
Either way, keeping your healthcare.gov application up to date and accurate will ensure you’re getting the proper coverage and tax benefits you qualify for.