Switching Health Insurance Plans - Change Companies & Stay Covered

Looking to switch your health insurance? Here’s what you need to know, and how to change your coverage and company while keeping yourself covered.

FirstQuote Health Staff
Published on
August 1, 2018
Last Updated on
May 16, 2023
Switching Health Insurance Plans - Change Companies & Stay Covered

Are you stuck with a health insurance policy or plan you hate? Regardless of why you want to switch health insurance plans, just know that there are plenty of Americans who find themselves in your very predicament each year. Changing your health coverage may seem like a challenge, especially in today’s heavily regulated healthcare world, but just know that there is a way. Here’s everything you need to know about switching health insurance plans to get coverage that better fits your needs.

Are You Allowed To Switch Health Insurance Plans?

There is a Special Enrollment Period for all insurance policies, companies, and plans. You must use the Special Enrollment Period to sign up for a plan, but there are times when you are allowed to change plans. You need to check the language on your policy about changing coverage, and there are instances where you can do that. You might have changed jobs, moved, or you might not be able to afford the coverage. However, your Special Enrollment Period is not the only time you are allowed to get insurance.

The majority of people who get their insurance make changes during the enrollment period because they know that that is the best time to make a change. However, you might be in a position where the enrollment period is not for many months. Someone who has those problems needs to do their research right away.

The enrollment period is not the same for every business, and you need to ask your employer if they have options for you. They might want you to use a different policy that they can get especially through the carrier, and it is possible that they have an idea of which policy will work for you. Ask the insurance office of your employer how they do that, and they will send you the paperwork that is needed to change plans. They do most of the rest of the work, and they will send you documents that are needed to make the switch permanent. Your premiums change, and you are sent insurance cards.

Changing Health Insurance Plans Outside Open Enrollment

Changing coverage outside of Open Enrollment requires permission from both parties. The old insurance company must let you go, and the new one must write up a policy for you. You cannot get a new policy if you are not released from your old insurance, and you must find a company that is willing to help with changing coverage. The Special Enrollment Period is waived for one of the reasons listed above, and switching health insurance becomes a possibility.

You could use the insurance plans that are always available outside of Open Enrollment because that makes it easier for you to just buy a policy. You are given that chance when you are in these situations, but you might need to adhere to the policy that the company has set up. They often want you to go back into Open Enrollment a couple months after you get the policy, but that is normal because the Open Enrollment period never changes.

How To Switch Your Health Insurance Policy

Changing coverage is easier than you think, and switching health insurance is something that you have to be careful about. You must try to find a policy that is exactly like the one that you have. You will notice that you can get a policy that looks like what you once had, and the new insurance company usually likes telling you about their policies. They know how to compare their policies to your current insurance, and they use materials that are typically distributed by the company during the Special Enrollment Period.

You must research all the companies that offer a policy like the one you need, and you must take a deep look into what could be done to get the policy that you want. You could find a company exactly like the one you worked with you, and you will get through the process faster.

When You Should Consider Changing Your Health Coverage

You should consider switching health insurance when you change jobs, move, or do not appreciate the premium you have been charged. The insurance policy you take must be priced well, and you must ask the company if they have policies that are priced in a bracket for someone who has your job or socioeconomic background. Everyone searching for a new insurance policy must look into the level of coverage, the price, and the form of coverage.

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