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Gap Coverage 101: What You Need to Know About Health Insurance

Updated: Sep 21

Mind the Gap

There are several situations in life that cause people to either change their health insurance, end their health insurance, or have a gap in coverage. I recently had a friend that changed careers and failed to examine their healthcare coverage plan before ending their employment. Checking the terms of coverage will also help you to plan to avoid a gap in coverage. With employer coverage, be mindful of how often you work. You must work at least one day of the month to ensure coverage through the rest of the month.

So, what is a gap? It is any period of no health insurance coverage for less than three months. A few ways that this can commonly occur is through employment changes, aging out of your parents’ health plan, or unemployment. There are specific rules and specifications for applying and qualifying for short gap coverage. This article will cover what qualifies you for specific types of gap coverage and what to do if your coverage runs out.

When Will You Need Gap Coverage?

Health insurance is an absolute necessity and, therefore, should never be an afterthought. Unfortunately, a lot of people tend to forget about the terms of their policy and take for granted the ease of coverage while they have it. I know several people that were not prepared for the shift in healthcare coverage when they turned 26. After the age of 26, you are no longer eligible to be covered by your parents’ health plan. Make sure that as you approach your 26th birthday you have a plan. Either choose to opt into your employers health plan or research to purchase your own plan. Using Insuravita will help you to find the best possible rates for your health needs.

Do You Qualify?

If you are in need of gap coverage insurance, there are a few ways you can check if you qualify or if you need gap coverage. Are you going to be unemployed for the foreseeable future? Will you experience a life event that will cause you to be unable to get another policy? Gap insurance is a great solution to getting you out of a sticky situation where you may need coverage.

A lot of people take time to travel overseas or move states when they get another job etc. Health insurance coverage is a must when travelling. Something that is important to remember about your health insurance coverage and gap or short term insurance is that you can only apply for it once a year. Make sure you plan out your year and insurance as much as possible.

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