You may qualify if you have experienced a loss of "minimum essential coverage" because of any of the following:
You or your dependent loses employer-sponsored coverage* (includes end of continuation coverage such as COBRA and retiree coverage)
There’s been a change to a dependent’s status, such as turning 26 years old and losing coverage through a parent’s plan
An employer ends your coverage
You or your spouse lose employer-sponsored coverage when you lose or leave a job
You've reached the end of your non-calendar year plan
You lose coverage in Medical Assistance (MA) or MinnesotaCare
You lose other government-sponsored coverage such as most types of TRICARE
Voluntary loss of coverage because you did not pay your premium on time, including COBRA premiums, does not qualify for a SEP.
*Employer-sponsored insurance meets the "minimum value standard" if the plan's share of the total allowed benefit costs covered by the plan is no less than 60 percent of such costs. Employer-sponsored insurance is unaffordable if the portion of the annual premium the employee must pay for self-only coverage exceeds 9.5% of the employee's household annual income
Supporting Documentation Required
To apply for a SEP with this life event you will need to provide a copy of at least one of the documents listed below before your application will be processed.
Document to prove the date that minimum essential coverage ended:
Letter from health insurance company that indicates loss of coverage
Letter from employer
Employer plan notice that indicates a loss of coverage
Notice of loss of benefits from a state or federal government program (i.e. Medical Assistance, MinnesotaCare, Medicare, TRICARE, etc.)
NOTE: Documents must show that you lost qualifying health coverage in the past 60 days or will lose coverage in the next 60 days. These documents must include your name and the date of coverage loss.