Why does every insurance company I've found say they don't sell health insurance in the middle of the year in the US, except to people who experienced a qualifying event (as defined by the government)? Is it illegal to do so, or is it just that nobody wants to? The reason I want to buy health insurance is that I have employer-sponsored health insurance, and it doesn't cover a procedure that I think I'm going to need soon.
As I understand it, there's certain tax implications, and given that the intent was to have people covered year-round rather than buying insurance last-second to avoid the fee, the marketplace during open enrollment is the only time that insurance can be sold (except for special exceptions, which you noted.) You mmmmight be able to get a secondary kind of insurance like Care Credit (which is more aptly a health-oriented line of credit, you pay it off like a normal credit card vs insurance premiums) to help cover the cost?
I do know that people are required to buy health insurance during the enrollment period, and why. I just don't get why it's not possible to buy more health insurance after the enrollment period. Care Credit probably won't work for me for reasons I've taken to PM, but I very much appreciate the suggestion; under slightly different circumstances it could be a lifesaving resource.
I think it's that no one wants to - my insurance through the university re-ups in August, and isn't dependent on enrollment in any particular semester, so I don't know that it's a "qualifying event." Does your employer offer different tiers of health insurance? Would any of them be more appropriate? Can you switch between available plans?
