Will Proposed New Healthcare Regulations Restrict Special Enrollments?

Another new potential healthcare regulation. This time it’s about Special Enrollment Periods.   With so many parts of Obamacare under review by the new Trump Administration, the rules around Special Enrollment Periods are not staying under the radar.   A Special Enrollment Period (SEP) is a time outside of the Open Enrollment Period for Obamacare, where you can still sign up for health insurance coverage. You can qualify for a Special Enrollment Period if you experience a change in circumstances like losing your coverage, moving, having a baby or getting married.   Once again, it all goes back to the rising costs of Obamacare. Insurance companies are becoming increasingly concerned that healthier people are taking advantage of these periods to sign up just when they are sick and need care, only to drop their coverage later. Because they aren’t paying enough in premiums to cover the cost of their care, everyone else needs to make up the cost in terms of higher premiums.     In a report from the Associated Press, Anthem CEO Joseph Swedish said his company would like to see a reduction in the number of Special Enrollment Periods as well as a way to better determine if consumers actually qualify for a SEP.   Why is it all happening? With so many health insurance companies dropping out of the marketplace, President Trump is looking for ways to stop the “bleeding” and boost provider confidence in the road ahead.  Especially considering that these companies need to decide by Spring whether or not they will even be providing coverage for 2018.   For now, the actual details about proposed new regulations related to Special Enrollment Periods have not been made public.  But with every part of Obamacare, from subsidies to pre-existing conditions looking at a potential repeal, you know Special Enrollment Periods have plenty of company under the Trump Administration microscope.  Take advantage of special enrollment periods now, and find out exactly what qualifies as a change in circumstance for Special Enrollment!