With the recent trend of people moving out of state because of work or cost of living, you too might be thinking about packing up the U-Haul. But along with a change of address, there comes a slew of other changes as well – health insurance being one of them. Here are 5 things to consider when you make your move.
You Probably Can’t Keep Your Current Plan
Due to various state guidelines, most insurance policies do not transfer from state to state. Some plans like PPOs and POSs will offer health insurance coverage for medical care outside of your home state through out-of-network coverage. This is typically an expensive option, so be sure to check with your provider on your options before making your move.
Verify If Your Coverage Transfers
In some cases, coverage can transfer from state to state. However, always verify with your provider before making any assumptions.
Get New Coverage Right Away
Moving out of state qualifies you for a Special Enrollment Period (SEP), which means someone moving to a different state can enroll outside of the Open Enrollment period. Remember to report your change right away to your existing provider before beginning the process of enrollment. Sites like HealthCare.gov will be especially helpful in finding a suitable Marketplace plan in your location.
When You Leave A Job
If you move from one state to another for new employment, often you can choose to extend your existing policy through COBRA in the interim if you are currently insured through your employer. This is a great benefit however, be prepared to pay for the full cost of your premiums as a result.
Some Medicare Will Travel With You
For those with Medicare benefits, Medicare Part A and B will always be available wherever you go. If you have Medicare Advantage Part C or Prescription Drug Part D Plan, however, you will have to enroll again during the Special Enrollment Period. Contact your provider before you move to start the process.