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Anyone have any thoughts of how individual business may be after 3/31/14?
I wonder what percentage of people looking after 3/31 will qualify for a SEP?
work the American Indian market...........
Anyone have any thoughts of how individual business may be after 3/31/14?
I wonder what percentage of people looking after 3/31 will qualify for a SEP?
From healthcare.gov Glossary:
"Qualifying Event: A change in your life that can make you eligible for a Special Enrollment Period to enroll in health coverage. Examples of qualifying life events are moving to a new state, certain changes in your income, and changes in your family size (for example, if you marry, divorce, or have a baby)."
So, you move, your income changes in a mysterious "certain" way, or changes in family size. No-fault loss of coverage is also implied (employer stops offering, current insurer goes bankrupt, etc.)
They explicitly said that termination due to non-pay is not a SEP generating event.
Unhappiness, network inadequacy, displeasure with customer service, buyers remorse, and clerical ineptitude do not generate SEP's either.
ok, so I make 50 k a year and I'm self employed. Just lost a major acct and
my income drops to 20 K. I currently have no insurance and today is 7/1/2014. Are you saying that is a qualifying event?
Joe
ok, so I make 50 k a year and I'm self employed. Just lost a major acct and
my income drops to 20 K. I currently have no insurance and today is 7/1/2014. Are you saying that is a qualifying event?
Joe
I think the key phrase in Pahealthquote's question is "currently have no insurance". There's no loss of coverage here. If the person was currently insured and had a drop in income which would make full-year 2014 MAGI income less than 400% of FPL (or less than 250% for CSR), then clearly an SEP would be triggered. But what if the person was uninsured at the time? I give TaterPeeler credit for bringing this glitch to my attention.