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Simpson Financial Group  Preparing for life’s uncertainties

doctor drawing heartThe Affordable Care Act is in place to provide individuals with better access to health insurance. Now that it is mandated that many people have coverage through this law, it becomes increasingly important for consumers to understand their needs and their overall requirements. While having insurance is important, it is also important to keep that policy current and customized to meet your needs. After all, you are not getting insurance just to meet the requirements of the law but to work towards bettering your quality of life.

When Things Change

Generally, individuals will purchase coverage through the Marketplace based on when Open Enrollment is. You’ll purchase the coverage you need and maintain it for that period, usually for at least a year. That coverage should meet your specific needs and provide for the coverage you and your family need to minimize expensive health insurance costs. But what happens when things change throughout that year? You may need to make changes to your coverage. Can you do so?

Changing, Updating or Canceling Your Marketplace Health Insurance

In general, you cannot change your policy unless there is a qualifying life event that happens during that time. Qualifying events include significant changes such as having a baby, getting married or losing other health insurance coverage you have. When this occurs, you are then eligible to take advantage of the Special Enrollment Period. Qualifying events for this may include:

  • Having a child.
  • Getting married.
  • Getting divorced.
  • Losing a family member on the plan.
  • Gaining membership into a federally recognized tribe.
  • Drastic changes to your income.
  • Changes to your other coverage.
  • Gaining status as an Alaska Native Claims Settlement Act Corporation shareholder.

In other cases, you may need to update your coverage. If a change in your income occurs that is significant, you may be required to update your coverage. If you do not, you may end up saving money on health insurance or having to pay when you file your taxes.

If you may need to update your health insurance through the Affordable Care Act Special Enrollment, work with an agent to help you to make those changes and to ensure it is done according to the requirements the law puts in place.

Make sure your coverage is up-to-date. Call Simpson Financial Group at (877) 727-7780 for more information on Boston health insurance.
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Suite 102
Marlborough, MA 01752

(978) 222-3939
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Attention: This website is operated by Simpson Financial Group, Inc. and is not the Health Insurance Marketplace website. In offering this website, Simpson Financial Group, Inc. is required to comply with all applicable federal laws, including the standards established under 45 CFR 155.220(c) and (d) and standards established under 45 CFR 155.260 to protect the privacy and security of personally identifiable information. This website may not display all data on Qualified Health Plans being offered in your state through the Health Insurance Marketplace website. To see all available data on Qualified Health Plan options in your state, go to the Health Insurance Marketplace website at

Simpson Financial Group, Inc., which has licensed insurance agents in 50 states. Not all agents are licensed to sell all products. Service and product availability varies by state. Sales agents may be compensated based on a consumer's enrollment in a health plan. Agent cannot provide tax or legal advice. Contact your tax or legal professional to discuss details regarding your individual business circumstances. Our quoting tool is provided for your information only. All quotes are estimates and are not final until consumer is enrolled.